VAST Data, Inc.
Vast Data completes Series E funding round, nearly triples valuation to $9.1 billion
Reflecting high demand for Vast Data, which has established itself as a market leader in deep learning and AI infrastructure
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VAST Data, an AI data platform company – https://vastdata.com/
This funding will enable Vast Data to advance its mission to provide a new category of infrastructure that puts data at the center of organizations’ systems. Vast Data’s breakthrough technology enables businesses to effectively address pressing data challenges, enabling unprecedented advances in technology, economics, social dynamics, and scientific research.
Vast Data Platform unifies storage, database, and containerized compute engine services into a single, highly scalable software platform, bringing the power of AI and GPU acceleration tools to modern data centers and clouds. Designed from the ground up to perform at its best. The platform enables companies to understand all data in nature, both structured and unstructured, to generate insights and unlock new value.
Renen Hallak, CEO and co-founder of Vast Data, said: “To truly make an impact in the era of AI and deep learning, we need a new AI data stack. Instead, business success depends on having high-quality data that is organized correctly and available in the right place at the right time. Vast Data Platform provides the AI infrastructure to solve your most complex challenges. I will.”
“We believe Vast Data is a pioneer in the AI GPU space,” said Scott Sandell, Chairman, CEO and CIO of NEA. With deep learning at the heart of this trend, interest and investment in Vast Data is escalating, and we are pleased to partner with the Vast Data team that is driving impact and innovation in the global AI technology space.” says. This funding builds on the following pivotal 2023 achievements: Business Growth: At the end of the third quarter, Vast Data exceeded $1 billion in cumulative software reservations and $200 million in annual recurring revenue (ARR). The company achieved 3.3x
year-over-year growth, maintained positive cash flow over the past 12 quarters, and achieved gross profit margins of nearly 90%.
Trusted by organizations in every industry: Vast Data has a growing roster of global corporate clients, including Booking Holdings, the U.S. Air Force, the U.S. Department of Energy, Verizon, Boston Children’s Hospital, Pixar, and Zoom, and is trusted by the market. I am.
Reinventing AI Cloud Infrastructure: Vast Data is delivering infrastructure built for the next generation of AI cloud through innovative customer partnerships with companies like CoreWeave, Lambda, and Core42 (formerly G42 Cloud).
Deepening our commitment to our partners: Since our founding, Vast Data has worked closely with our partners to remove technical compromises and barriers while improving the overall customer experience. In May 2023, Vast Data Platform will achieve NVIDIA DGX Super POD certification, making large-scale AI deployments simpler, faster, more reliable, and more manageable. We furthered our mission. In April 2023, we entered into a strategic partnership with HPE to help enterprise customers manage unstructured data at scale and with high performance and achieve superior time to data insights. Global Expansion: Vast Data currently has over 700 employees worldwide and is actively expanding into new markets in Asia Pacific, the Middle East, and Europe.
The Vast Data Platform’s ability to process large amounts of data at unparalleled scale and speed underscores the pivotal role that deep learning AI will play in transforming industry operations and shaping future advances. I am. This sentiment is shared by our customers and partners across the industry. Below are comments from partner companies.
“Data is every enterprise’s most valuable asset,” said Manuvir Das, vice president of enterprise computing at NVIDIA. We work together to help businesses harness data to tackle their biggest challenges. “Some of the most data-intensive and compute-intensive customers on the planet are built on top of the industry’s fastest and most flexible AI infrastructure,” said Michael Intrator, CEO and co-founder of CoreWeave. Companies trust CoreWeave, NVIDIA, and Vast Data to provide the most secure and scalable solutions. We partner with Vast to help companies solve the complex AI and data challenges they face now and in the future. We are proud to offer purpose-built accelerated computing solutions to solve these problems.”
“Data is the only competitive advantage in AI, and an infrastructure that can simplify and scale data access is essential for any organization training AI models,” said Sanjeev Mohan, principal at SanjMo, which advises on data trends. “With a modern data platform fine-tuned for the performance and scale that AI requires, Vast Data is poised to capture a huge opportunity.”
About Vast Data
Vast Data is a data platform company for the AI era. As the new standard for enterprise AI infrastructure, enterprises rely on Vast Data Platform for their most data-intensive computing needs. VAST Data helps businesses realize the full potential of their data by providing an AI infrastructure that is simple, scalable, and designed from the ground up to power data centers and clouds with deep learning and GPU acceleration. We will help you bring it out. Founded in 2016, Vast Data is the fastest growing data infrastructure company in history. For more information, please visit https://vastdata.com or LinkedIn.