VAST Data, the AI data platform company, is announcing the results of its Series E funding, having raised $118 million. The funding round—led by Fidelity Management & Research Company with participation from New Enterprise Associates (NEA), BOND Capital, and Drive Capital—will serve VAST Data’s go-to-market efforts for a new category of infrastructure which puts data at the core of how systems think, react, and discover.
The VAST Data Platform markets itself as a breakthrough approach to data-intensive computing, centralizing storage, database, and containerized compute engine capabilities into a single, scalable software platform. Fundamentally designed to empower AI and GPU-accelerated tools for modern data centers and cloud, the platform drives data comprehension for both structured and unstructured variants.
VAST Data’s technological breakthrough—which will leverage the Series E funding—targets how enterprises approach their most pressing data challenges.
“A new AI data stack is required,” said Renen Hallak, CEO and co-founder of VAST Data. “To be truly impactful in this era of AI and deep learning, you not only want to have a lot of data but also high-quality data that is correctly organized and available at the right place, at the right time. The VAST Data Platform delivers AI infrastructure that opens the door to automated discovery that can solve some of humanity’s most complex challenges.”
The funding is followed by a year of remarkable achievements for the company, including expansive business momentum—surpassing $1 billion in cumulative software bookings—a growing customer base around the world, a myriad of partnerships to forward AI cloud infrastructure initiatives as well as an ongoing commitment to its partner ecosystem.
“We believe that VAST Data is a pioneer in the AI GPU space,” said Scott Sandell, chairman, CEO and CIO at NEA. “With deep learning at the center of the massive AI movement we are experiencing, interest and investment in VAST Data has escalated, and we are thrilled to partner with the VAST Data team as they drive influence and innovation in the global AI technology sector.”
To learn more about VAST Data, please visit https://vastdata.com/.