VAST Data, a storage company, has raised $100 million in Series C funding which will be used to drive global expansion and accelerate the company’s next phase of growth.
The funding round was led by Next47, at a valuation of $1.2B – a near-tripling since the company’s launch in February 2019. The round brings the company’s total funding to $180 million and includes strong participation from past investors as well as new investors, including 83North, Commonfund Capital, Dell Technologies Capital, Goldman Sachs, Greenfield Partners, Mellanox Capital and Norwest Venture Partners.
“We started VAST Data with a single mission, to simplify the data center and to enable insights that were never before possible. In 2019, VAST’s early customer adoption and financial performance surpassed all historic benchmarks – validating that the technology and product-market fit were right for customers who are struggling under tiered storage architectures and the limitations of the hard drive,” said Renen Hallak, founder and CEO of VAST Data. “Considering that VAST has not even tapped into its $40M Series B financing, the company now has a $140M war chest to satisfy global customer demand for next-gen infrastructure, and to enable data driven applications through continued innovation.”
Building from the ground up, VAST Data has developed an all flash storage platform that revolutionizes the economics of flash storage to make flash infrastructure affordable for all classes of data, thereby rendering the hard drive and storage tiering obsolete.
The power of VAST’s platform is applied across a number of industries, and is instrumental to organizations tackling the worldwide spread of COVID-19. This includes powering next generation life science advancements and helping financial services organizations stabilize the economy.
For more information about this news, visit https://vastdata.com/.