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AI infrastructure major VAST Data’s valuation surges to over $9B after fresh funding

Dec 06, 2023 - venturebeat.com
VAST Data, a tech firm focused on creating an infrastructure layer for AI, has raised $118 million in a series E funding round, led by Fidelity Management & Research Company. The investment, which also included participation from New Enterprise Associates, BOND Capital, and Drive Capital, has increased the company's valuation to $9.1 billion. The funds will be used to accelerate VAST Data's work on a new category of infrastructure that places data at the center of system operations.

VAST Data, founded in 2016, has evolved into a unified data platform that combines storage, database, and containerized compute engine services. The platform is designed to capture, synthesize, and learn from large quantities of data, enabling advancements in AI-driven applications. The company's platform is used by major enterprises, including Zoom, Allen Institute, and Pixar Animation Studios. With the new funding, VAST Data plans to further develop its platform to support future AI advancements.

Key takeaways:

  • VAST Data has raised $118 million in a series E funding round, increasing the company's valuation to $9.1 billion.
  • The company plans to use the funding to accelerate its work on a new category of infrastructure that puts data at the center of how systems think, react, and discover.
  • VAST Data's unified data platform combines storage, database, and containerized compute engine services into a single, scalable software stack.
  • The platform is used by major enterprises including Zoom, Allen Institute and Pixar Animation Studios, and its cumulative software bookings surpassed $1 billion in the financial quarter ending September.
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