Vast Data Secures $118M in Series E Funding, Valued at $9.1 Billion, for Global Expansion of its AI Data Platform.
Vast Data focuses on providing a scalable software platform that enables organizations to analyze both structured and unstructured data comprehensively.
Company Name: Vast Data
Location: Remote
Sector: AI Data Platforms
Funding Details: Raised $118M in Series E funding at a $9.1 Billion valuation. The round was led by Fidelity Management & Research Company, with participation from New Enterprise Associates (NEA), BOND Capital, and Drive Capital.
Purpose of Investment: To expand business presence, particularly in new regions in Asia Pacific, the Middle East, and Europe.
Leadership: CEO Renen Hallak
Product: Vast Data offers a unified platform that integrates storage, database, and containerized compute engine services into a cohesive software platform. This platform is designed to support AI and GPU-accelerated tools in modern data centers and clouds.
About: Vast Data focuses on providing a scalable software platform that enables organizations to analyze both structured and unstructured data comprehensively. This approach helps in generating superior insights and unlocking new value from data.
Key Achievements:
- Surpassed $1 billion in cumulative software bookings as of the end of FY’Q3.
- Achieved 3.3x year-over-year growth while maintaining positive cash flow for 12 consecutive quarters.
- Gross margin of nearly 90%.
Clients: Vast Data's client base includes global enterprises such as Booking Holdings, Inc., U.S. Air Force, U.S. Department of Energy, Verizon, Boston Children’s Hospital, Pixar, and Zoom. Customer partnerships include CoreWeave, Lambda, and Core42 (formerly G42 Cloud).