Israeli data storage startup, VAST Data, secured $118 million in Series E funding at a valuation of $9.1 billion. The round was led by Fidelity Management & Research Company and joined by New Enterprise Associates (NEA), BOND Capital, and Drive Capital.
VAST Data’s platform integrates storage, database, and compute engine services, enabling organizations to process both structured and unstructured data effectively, proven pivotal in generating deeper insights and unlocking new value across various sectors.
Renen Hallak, CEO and Co-Founder of VAST Data, emphasized the need for a new AI data stack, capable of organizing high-quality data efficiently for impactful AI and deep learning applications. Scott Sandell, Chairman, CEO, and CIO at NEA, echoed this sentiment, acknowledging VAST Data’s pioneering role in the burgeoning AI GPU market.
2023 marked a year of notable achievements for VAST Data, with the company surpassing $1 billion in cumulative software bookings and maintaining strong financial performance. This success reflects the growing trust in VAST Data across diverse industries, with a client roster featuring prominent names like Booking Holdings, Inc., U.S. Air Force, and Pixar.
The company’s efforts in AI cloud infrastructure have been recognized through strategic partnerships with CoreWeave, Lambda, and Core42. Additionally, VAST Data’s collaboration with NVIDIA and HPE has furthered its mission to simplify large-scale AI deployments and manage unstructured data efficiently.
With over 700 employees, the latest round brings their total funding to $381 million.
