Vast Data Targets $25B Valuation in Latest Funding Round
Vast Data, a provider of AI-optimized data storage solutions, is seeking to raise funds at a significantly higher valuation.
Earlier this year, the nine-year-old firm aimed for a $25 billion valuation, according to an insider. If achieved, this would mark a substantial increase from its $9 billion Series E valuation in December 2023.
The deal remains unfinalized, and its valuation could shift, the source noted, highlighting that the proposed figure was ambitious despite strong growth. Multiple venture capitalists are closely monitoring Vast, sources informed TechCrunch.
Vast Data did not respond to inquiries for comment.
Vast Data delivers integrated data management software alongside unified CPU, GPU, and data hardware from partners like Supermicro, HPE, and Cisco. Unlike traditional tiered storage systems, Vast eliminates tiers, focusing on flash storage for streamlined performance.
The rise of AI has significantly boosted Vast’s operations. Its platform consolidates structured, semi-structured, and unstructured data, enhancing data access speed and reducing costs for model training and inference, according to the company.
Vast serves major enterprises such as Pixar, ServiceNow, and xAI, alongside next-generation AI cloud providers like CoreWeave and Lambda, which leverage Vast’s technology to provide storage solutions to their clients.
Save Over $200 on Your TechCrunch All Stage Pass
Innovate smarter. Grow faster. Network deeper. Join industry leaders from Precursor Ventures, NEA, Index Ventures, Underscore VC, and more for a day of actionable insights, workshops, and valuable connections.
Save Over $200 on Your TechCrunch All Stage Pass
Innovate smarter. Grow faster. Network deeper. Join industry leaders from Precursor Ventures, NEA, Index Ventures, Underscore VC, and more for a day of actionable insights, workshops, and valuable connections.
Vast reported $200 million in annual recurring revenue (ARR) during its Series E round 18 months ago, according to TechCrunch. CEO and co-founder Renen Hallak stated on a podcast last May that the company has been growing 2.5x to 3x annually and has maintained positive free cash flow for four years.
In data storage, Vast competes with Pure Storage, a 16-year-old public company with a market cap of nearly $17 billion, and Weka, a 12-year-old firm that raised $140 million at a $1.6 billion valuation last year. Vast is also developing a database architecture to rival Databricks.
Before its current fundraising efforts, Vast secured $381 million from investors, including Fidelity Management & Research Company, NEA, BOND Capital, and Drive Capital.
Related article
Unlock Success with AI-Powered Proposal Writing: Your Definitive Guide
In today's competitive business landscape, effective proposal creation can make or break deals. Proposal Kit revolutionizes this process through its cutting-edge AI integration with ChatGPT, enabling professionals to craft persuasive proposals with u
Google Bard AI Enhances YouTube Transcript Summarization for Efficiency
In our rapidly evolving digital landscape, artificial intelligence has become indispensable for efficient information processing. Google Bard represents the cutting edge of AI technology, offering an intelligent solution for distilling key insights f
ChatGPT Exploited to Steal Sensitive Gmail Data in Security Breach
Security Alert: Researchers Demonstrate AI-Powered Data Exfiltration TechniqueCybersecurity experts recently uncovered a concerning vulnerability wherein ChatGPT's Deep Research feature could be manipulated to silently extract confidential Gmail data
Comments (0)
0/200
Vast Data, a provider of AI-optimized data storage solutions, is seeking to raise funds at a significantly higher valuation.
Earlier this year, the nine-year-old firm aimed for a $25 billion valuation, according to an insider. If achieved, this would mark a substantial increase from its $9 billion Series E valuation in December 2023.
The deal remains unfinalized, and its valuation could shift, the source noted, highlighting that the proposed figure was ambitious despite strong growth. Multiple venture capitalists are closely monitoring Vast, sources informed TechCrunch.
Vast Data did not respond to inquiries for comment.
Vast Data delivers integrated data management software alongside unified CPU, GPU, and data hardware from partners like Supermicro, HPE, and Cisco. Unlike traditional tiered storage systems, Vast eliminates tiers, focusing on flash storage for streamlined performance.
The rise of AI has significantly boosted Vast’s operations. Its platform consolidates structured, semi-structured, and unstructured data, enhancing data access speed and reducing costs for model training and inference, according to the company.
Vast serves major enterprises such as Pixar, ServiceNow, and xAI, alongside next-generation AI cloud providers like CoreWeave and Lambda, which leverage Vast’s technology to provide storage solutions to their clients.
Save Over $200 on Your TechCrunch All Stage Pass
Innovate smarter. Grow faster. Network deeper. Join industry leaders from Precursor Ventures, NEA, Index Ventures, Underscore VC, and more for a day of actionable insights, workshops, and valuable connections.
Save Over $200 on Your TechCrunch All Stage Pass
Innovate smarter. Grow faster. Network deeper. Join industry leaders from Precursor Ventures, NEA, Index Ventures, Underscore VC, and more for a day of actionable insights, workshops, and valuable connections.
Vast reported $200 million in annual recurring revenue (ARR) during its Series E round 18 months ago, according to TechCrunch. CEO and co-founder Renen Hallak stated on a podcast last May that the company has been growing 2.5x to 3x annually and has maintained positive free cash flow for four years.
In data storage, Vast competes with Pure Storage, a 16-year-old public company with a market cap of nearly $17 billion, and Weka, a 12-year-old firm that raised $140 million at a $1.6 billion valuation last year. Vast is also developing a database architecture to rival Databricks.
Before its current fundraising efforts, Vast secured $381 million from investors, including Fidelity Management & Research Company, NEA, BOND Capital, and Drive Capital.
Unlock Success with AI-Powered Proposal Writing: Your Definitive Guide
In today's competitive business landscape, effective proposal creation can make or break deals. Proposal Kit revolutionizes this process through its cutting-edge AI integration with ChatGPT, enabling professionals to craft persuasive proposals with u
Google Bard AI Enhances YouTube Transcript Summarization for Efficiency
In our rapidly evolving digital landscape, artificial intelligence has become indispensable for efficient information processing. Google Bard represents the cutting edge of AI technology, offering an intelligent solution for distilling key insights f
ChatGPT Exploited to Steal Sensitive Gmail Data in Security Breach
Security Alert: Researchers Demonstrate AI-Powered Data Exfiltration TechniqueCybersecurity experts recently uncovered a concerning vulnerability wherein ChatGPT's Deep Research feature could be manipulated to silently extract confidential Gmail data
