VAST Data Raises $100 Million in Series C Funding

VAST Data Raises $100 Million in Series C FundingVAST Data recently announced $100 million in Series C funding, led by Next47, at a valuation of $1.2 billion. This represents a near-tripling since the company’s launch in February 2019. The round brings the company’s total funding to $180 million and also includes strong participation from past investors and new investors. These investors include 83North, Commonfund Capital, Dell Technologies Capital, Goldman Sachs, Greenfield Partners, Mellanox Capital, and Norwest Venture Partners. This new funding will be used to drive global expansion and accelerate the company’s next phase of growth.

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VAST Data has developed the first all-flash storage platform that transforms the economics of flash storage in order to make flash infrastructure affordable for all classes of data, effectively making the hard drive and storage tiering obsolete. VAST’s platform is applied across a range of industries, offers next-generation life science advancements and helps financial services organizations to stabilize the economy during the coronavirus outbreak.

In a press statement, Founder and CEO of VAST Data, Renen Hallak said, “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 whoa re struggling under tiered storage architectures and the limitations of the hard drive. 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.”

Recently VAST Data’s Universal Storage was recognized by Storage Magazine and SearchStorage as the 2019 Product of the Year, as one of CRN’s 10 Hottest Data Storage Startups of 2019, and as a Channel Partners 2020 Channel Influencer.

Learn more about VAST Data.

Tess Hanna

Tess Hanna is an editor and writer at Solutions Review covering Backup and Disaster Recovery, Business Process Management, and Talent Management. She aims to simplify the research process for IT professionals. You can contact her at thanna@solutionsreview.com
Tess Hanna

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