- US-based AI infrastructure company VAST Data has raised approximately $1 billion in a Series F round, reaching a $30 billion valuation.
- The round was led by Drive Capital, with Access Industries as co-lead, and participation from NVIDIA, Fidelity, and NEA.
- Founded in 2016 by Renen Hallak, VAST Data develops an AI Operating System that unifies data, compute, and real-time processing into a single platform.
- With presence in Saudi Arabia and the UAE, the funding will accelerate the company’s global expansion, strategic acquisitions, and further development of AI infrastructure systems.
VAST Data has raised $1 billion in Series F funding, using both primary and secondary capital. The new round values the company at $30 billion, more than three times its $9.1 billion valuation from Series E in late 2023. Drive Capital and Access Industries led the round, joined by existing investors Fidelity Management & Research Company, NEA, and NVIDIA.
VAST Data was founded in 2016 in New York by Renen Hallak, Jeff Denworth, Shachar Fienblit, and Alon Horev. Following the sale of Wiz Calcali Tech, VAST Data has become the most valuable private tech company founded in Israel. The company has about 1,200 employees worldwide.
VAST’s main innovation is an architecture developed at the beginning of the deep learning era to address the usual trade-offs among scale, simplicity, performance, and cost. The company says its platform supports AI environments running on millions of GPUs worldwide, with customers including CoreWeave, Mistral AI, Cursor, Lowe’s, and the US Air Force.
VAST has booked over $4 billion in total sales and finished its last fiscal year with more than $500 million in committed annual recurring revenue. The company remains profitable, with positive operating margins and free cash flow.
Its main competitors include storage companies such as NetApp, Pure Storage, and Dell, as well as cloud services from AWS, Google Cloud, and Azure. However, none match VAST’s size, customer base, or profits to date. The $30 billion valuation shows that the market sees VAST as a company creating a new category.
The company plans to use the new funds to expand worldwide, build stronger partnerships with businesses and cloud providers, and make strategic acquisitions to improve its technology platform.
