VAST Data explained

VAST Data
Type:Private
Industry:Computer Software
Num Employees:700 (2023)[1]

VAST Data is a privately held technology company focused on artificial intelligence (AI) and deep learning computing infrastructure.[2] [3] The company offers a data computing platform to help enterprises and cloud service providers manage and accelerate large-scale data-intensive applications.[4] [5] [6]

History

VAST Data was founded in 2016 by Renen Hallak, the former head of R&D at XtremIO (acquired in 2012 by Dell EMC),[7] [8] Shachar Fienblit, formerly of Kaminario, and Jeff Denworth, formerly of CTERA Networks. Mike Wing, formerly of Dell EMC, serves as company president.[9] [10]

In February 2019, VAST emerged from stealth mode, announcing $80 million of funding and the launch of its data storage software built on a new distributed systems architecture called DASE (Disaggregated and Shared Everything).[11] [12]

VAST ranked No. 5 on the 2022 Deloitte Technology Fast 500[13] and No. 3 on the 2023 Financial Times list of The Americas’ Fastest-Growing Companies.

In December 2023 VAST announced it had surpassed $1 billion in cumulative software bookings; had surpassed $200 million in annual recurring revenue (ARR); and had maintained positive cash flow for the previous 12 quarters with a gross margin of nearly 90 percent.[14] [15] [16] [17]

In 2024 VAST was included in the Forbes Cloud 100, a list of the top private cloud computing companies, and was named a leader in the Gartner Magic Quadrant for File and Object Storage.[18]

Funding

VAST Data has raised $381million in funding.[19]

In December 2023 VAST announced a Series E funding round led by Fidelity Management and Research Co. that raised $118 million at a valuation of $9.1 billion.[20] [21] [22] [23] [24]

SeriesDateAmount (million $)Lead Investor(s)
A20161583North, Norwest
A1201825Dell Technologies Capital, 83North, Norwest
B201940Greenfield, 83North, Norwest
C2020100Next47
D202183Tiger Global Management
E2023118Fidelity Management and Research Co.

Product

The VAST Data Platform enables organizations to store, manage, and process large amounts of structured and unstructured data for AI and deep learning initiatives. The platform comprises several:[25]

The platform is deployable in on-premises data centers, public clouds, and edge environments, and is delivered as a subscription-based service.[27]

Operations

VAST partners with several systems technology vendors worldwide, including Arista, Cisco, Equinix, HPE, Lenovo, NVIDIA, and Supermicro.[28] [29]

VAST is a no-headquarters company with offices in New York City; Durham, North Carolina; Campbell, California; and Yafo, Israel.

References

  1. Web site: VAST Closes Series E Funding Round, Nearly Triples Valuation to $9.1 Billion . 2024-11-14 . www.vastdata.com . en.
  2. Web site: Mellor . Chris . VAST Data: The first thing we do, let's kill all the hard drives . Blocks and Files . February 26, 2019.
  3. Web site: Miller . Ron . TechCrunch . April 16, 2020.
  4. Web site: Coughlin . Tom . VAST Storage Dreams . . March 1, 2019.
  5. Web site: Adshead . Antony . QLC + 3D Xpoint = Vast Data's universal storage . Computer Weekly.
  6. Web site: Williams . Joe . Business Insider . April 17, 2020.
  7. Web site: 2012-05-10 . EMC buys XtremIO for $430m - Globes . 2023-11-15 . en.globes.co.il . en.
  8. Web site: Kovar . Joseph F. . Renen Hallak Talks Future . . April 16, 2020.
  9. Web site: Mellor . Chris . VAST Data's business sitrep . Blocks and Files . February 26, 2019.
  10. Web site: Mike Wing, Vast Data Inc: Profile and Biography . 2023-11-15 . Bloomberg.com . en.
  11. Web site: Robinson . Daniel . 2019-06-05 . VAST Data guarantees no downtime, no data loss . 2023-11-15 . Blocks and Files . en-US.
  12. Web site: Wilson . Alexandra . VAST Data Gets $1.2 Billion Valuation, As Researchers Race To Combat COVID-19 . Forbes. April 16, 2020.
  13. Web site: 2022 Technology Fast 500™ Rankings . deloitte.com.
  14. Web site: 2023-12-06 . VAST Data closes $118 million Series E, nearly triples valuation to $9.1 billion . 2023-12-20 . ctech . en.
  15. Web site: Genesys Cloud Reaches Nearly $1.3 Billion Annual Recurring Revenue in Third Quarter of Fiscal Year 2024 . 2023-12-20 . Genesys . en-us.
  16. Web site: McDowell . Steve . VAST Data More Than Doubles Valuation to $9.1B in Latest Funding Round . 2023-12-20 . Forbes . en.
  17. Web site: 2023-12-07 . Vast Data closes funding round in wake of AWS upgrade . 2023-12-20 . Capacity Media . en.
  18. Web site: KONRAD" . "KENRICK CAI"," ALEX . Forbes Cloud 100 2024 List - Best Cloud Computing Companies Ranked . 2024-11-14 . Forbes . en.
  19. Web site: Wiggers . Kyle . 2023-12-06 . Vast Data lands $118M to grow its data storage platform for AI workloads . 2024-03-14 . TechCrunch . en-US.
  20. Web site: Sharma . Shubham . 2023-12-06 . AI infrastructure major VAST Data’s valuation surges to over $9B after fresh funding . 2023-12-20 . VentureBeat . en-US.
  21. News: 2023-06-12 . AI data platform VAST Data raises $118m at $9b valuation . en . Globes . 2023-12-20.
  22. Web site: 2023-12-18 . CrowdStrike and Optiv Surpass $1 Billion in Sales . 2023-12-20 . wallstreet-online.de . de.
  23. Web site: Wiggers . Kyle . 2023-12-06 . Vast Data lands $118M to grow its data storage platform for AI workloads . 2023-12-20 . TechCrunch . en-US.
  24. Web site: Hu and . Krystal . VAST Data eyes IPO after valuation surges to $9.1 bln in latest fund raise . Reuters.
  25. Web site: Morgan . Timothy Prickett . 2023-08-01 . Vast Data Intentionally Blurs The Line Between Storage And Database - The Next Platform . 2023-11-15 . www.nextplatform.com . en-US.
  26. Web site: Kimball . Matt . VAST Data Deepens Its AI Enablement With InsightEngine . 2024-11-14 . Forbes . en.
  27. Web site: 2023-08-04 . VAST Data Deep Learning Data Platform - Built for AI . 2024-01-31 . StorageReview.com . en-US.
  28. Web site: Salamone . Salvatore . 2023-10-01 . Real-time Analytics News for the Week Ending September 30 . 2023-11-15 . RTInsights . en-US.
  29. Web site: Distribution underpinning VAST Data’s EMEA expansion plans . 2023-11-15 . MicroScope . en.

External links

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