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VAST Data Closes Series E Funding Round, Nearly Triples Valuation to $9.1 Billion

AGÊNCIA DE COMUNICAÇÃO Conteúdo de responsabilidade da empresa 6 de dezembro de 2023

VAST Data

NO-HEADQUARTERS / NEW YORK, Dec. 06, 2023 (GLOBE NEWSWIRE) — VAST Data, the AI data platform company, announced today that it has secured $118 million in Series E funding, led by Fidelity Management & Research Company and accompanied by New Enterprise Associates (NEA), BOND Capital and Drive Capital.

The funding will advance VAST Datas mission to deliver a new category of infrastructure that puts data at the center of how systems think, react, and discover. This breakthrough will empower organizations to effectively address their most pressing data challenges, enabling unprecedented advancements in technology, economics, social dynamics, and scientific research.

The VAST Data Platform unifies storage, database, and containerized compute engine services into a single, scalable software platform architected from the ground up to power AI and GPU-accelerated tools in modern data centers and clouds. The platform uniquely enables organizations to understand all data, both structured and unstructured as it exists in the natural world, to generate superior insights and unlock new value.

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 humanitys most complex challenges.

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.

The funding follows a pivotal 2023 calendar year, marked by:

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The VAST Data Platform’s capacity to process large quantities of data at unparalleled scale and speed signifies a transformative shift in industry operations, underscoring the pivotal role of deep learning AI in shaping future advancements. This sentiment was shared by customers and partners across the industry, including:

Data is every companys most valuable asset, said Manuvir Das, vice president of Enterprise Computing at NVIDIA. NVIDIA and Vast Data are collaborating to enable enterprises to harness their data using accelerated computing and cloud-based AI solutions to tackle their biggest challenges.

“Some of the most data-intensive and computationally advanced customers on the planet trust CoreWeave, NVIDIA and VAST to deliver the most secure and scalable solutions on top of the industrys fastest and most flexible AI infrastructure,” said Michael Intrator, CEO and co-founder of CoreWeave. “Were honored to partner with VAST to provide purpose-built accelerated computing solutions that solve the complex AI and data challenges that enterprises face now and into the future.

“Data is the only competitive advantage in AI and therefore infrastructure that can simplify and scale data access is crucial for any organization training AI models,” said Sanjeev Mohan, Principal, SanjMo. “With a modern data platform fine-tuned for the performance and scale AI requires, VAST Data is well-positioned to capture a massive opportunity.”

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About VAST Data:
VAST Data is the data platform company built for the AI era. As the new standard for enterprise AI infrastructure, organizations trust the VAST Data Platform to serve their most data-intensive computing needs. VAST Data empowers enterprises to unlock the full potential of their data by providing AI infrastructure that is simple, scalable, and architected from the ground up to power deep learning and GPU-accelerated data centers and clouds. Launched in 2019, VAST Data is the fastest growing data infrastructure company in history. For more information, please visit https://vastdata.com and follow VAST Data on X (formerly Twitter) and LinkedIn.

Media Contact:

Austin Weedfall
VAST Data
press@vastdata.com



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