VAST Data explained

VAST Data
Type:Privately held company
Industry:Computer Software
Key People:Renen Hallak, co-founder and CEO
Shachar Fienblit,co-founder and VP R&D<br>Jeff Denworth, co-founder
Michael Wing, president

VAST Data is a privately held technology company focused on artificial intelligence (AI) and deep learning computing infrastructure.[1] [2] Founded in 2016, the company offers a data computing platform that allows users to train AI models by storing and synthesizing large amounts of unstructured data.[3] [4] [5]

History

VAST Data was founded in 2016 by Renen Hallak, the former head of R&D at XtremIO (acquired in 2012 by Dell EMC),[6] [7] Shachar Fienblit, formerly of Kaminario, and Jeff Denworth, formerly of CTERA Networks. Mike Wing, formerly of Dell EMC, serves as company president.[8] [9]

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).[10] [11]

VAST ranked No. 5 on the 2022 Deloitte Technology Fast 500[12] and No. 3 on the 2023 Financial Times list of The Americas’ Fastest-Growing Companies, based on VAST’s fiscal revenue growth from 2018 to 2021.[13] VAST Data also was included in Fast Company’s list of the 10 most innovative companies in data science of 2023, as well as Forbes’s America’s Best Startup Employers.[14]

In April 2023 VAST entered into a partnership with Hewlett Packard Enterprise to provide software for HPE GreenLake for File Storage.[15]

On August 1, 2023 VAST announced the launch of the VAST Data Platform, which offers storage, database, and compute engine services, and is designed to accelerate AI-enabled research.[16]

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.[17] [18] [19] [20]

Funding

VAST Data has raised $381million in funding.[21]

On December 6, 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.[22] [23] [24] [25] [26]

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 is a unified global datastore, database, and AI computing engine comprising the following features:[27]

The platform is deployable in on-premises data centers, public clouds, and edge and ruggedized environments, and is delivered as a subscription-based service.[28]

Operations

As of February 2022 VAST operates in the United States, Canada, UK, France, Germany, Israel, Turkey, Czech Republic, Middle East, Australia, New Zealand, and Korea, with further expansion planned across EMEA with Benelux, Switzerland, Italy, Spain and the Nordics, and in Asia with Japan.[29]

VAST partners with several distribution partners worldwide, including Carahsoft, Arrow Electronics, Logicom, TechData, Climb Solutions, ASBIS and ASI[30]

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

References

  1. Web site: Mellor . Chris . VAST Data: The first thing we do, let's kill all the hard drives . Blocks and Files . February 26, 2019.
  2. Web site: Miller . Ron . TechCrunch . April 16, 2020.
  3. Web site: Coughlin . Tom . VAST Storage Dreams . . March 1, 2019.
  4. Web site: Adshead . Antony . QLC + 3D Xpoint = Vast Data's universal storage . Computer Weekly.
  5. Web site: Williams . Joe . Business Insider . April 17, 2020.
  6. Web site: 2012-05-10 . EMC buys XtremIO for $430m - Globes . 2023-11-15 . en.globes.co.il . en.
  7. Web site: Kovar . Joseph F. . Renen Hallak Talks Future . . April 16, 2020.
  8. Web site: Mellor . Chris . VAST Data's business sitrep . Blocks and Files . February 26, 2019.
  9. Web site: Mike Wing, Vast Data Inc: Profile and Biography . 2023-11-15 . Bloomberg.com . en.
  10. Web site: Robinson . Daniel . 2019-06-05 . VAST Data guarantees no downtime, no data loss . 2023-11-15 . Blocks and Files . en-US.
  11. Web site: Wilson . Alexandra . VAST Data Gets $1.2 Billion Valuation, As Researchers Race To Combat COVID-19 . Forbes. April 16, 2020.
  12. Web site: 2022 Technology Fast 500™ Rankings . deloitte.com.
  13. News: 2023-03-28 . FT ranking: The Americas’ Fastest-Growing Companies 2023 . en-GB . 2023-11-15.
  14. Web site: America's Best Startup Employers 2023 . 2023-11-15 . Forbes . en.
  15. Web site: Vast dips into HPE GreenLake with new file storage service TechTarget . 2023-11-15 . Storage . en.
  16. Web site: Hampton . Jaime . 2023-08-04 . Vast Data Boosts AI Infrastructure with New Unified Data Platform . 2023-11-15 . EnterpriseAI . en-US.
  17. Web site: 2023-12-06 . VAST Data closes $118 million Series E, nearly triples valuation to $9.1 billion . 2023-12-20 . ctech . en.
  18. 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.
  19. Web site: McDowell . Steve . VAST Data More Than Doubles Valuation to $9.1B in Latest Funding Round . 2023-12-20 . Forbes . en.
  20. Web site: 2023-12-07 . Vast Data closes funding round in wake of AWS upgrade . 2023-12-20 . Capacity Media . en.
  21. 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.
  22. 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.
  23. News: 2023-06-12 . AI data platform VAST Data raises $118m at $9b valuation . en . Globes . 2023-12-20.
  24. Web site: 2023-12-18 . CrowdStrike and Optiv Surpass $1 Billion in Sales . 2023-12-20 . wallstreet-online.de . de.
  25. 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.
  26. Web site: Hu and . Krystal . VAST Data eyes IPO after valuation surges to $9.1 bln in latest fund raise . Reuters.
  27. 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.
  28. Web site: 2023-08-04 . VAST Data Deep Learning Data Platform - Built for AI . 2024-01-31 . StorageReview.com . en-US.
  29. Web site: Distribution underpinning VAST Data’s EMEA expansion plans . 2023-11-15 . MicroScope . en.
  30. Web site: Salamone . Salvatore . 2023-10-01 . Real-time Analytics News for the Week Ending September 30 . 2023-11-15 . RTInsights . en-US.

External links

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