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VAST Data

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VAST Data
Company typePrivate
IndustryComputer Software
FoundedJanuary 2016; 8 years ago (2016-01)
Founders
  • Renen Hallak
  • Shachar Fienblit
  • Jeff Denworth
Key people
  • Renen Hallak (CEO)
  • Shachar Fienblit (VP R&D)
  • Michael Wing (President)
Number of employees
700 (2023)[1]
Websitevastdata.com

VAST Data is a privately held technology company focused on artificial intelligence (AI) and deep learning computing infrastructure.[2][3] The company offers a data computing platform to help enterprises and cloud service providers manage and accelerate large-scale data-intensive applications.[4][5][6]

History

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VAST Data was founded in 2016 by Renen Hallak, the former head of R&D at XtremIO (acquired in 2012 by Dell EMC),[7][8] Shachar Fienblit, formerly of Kaminario, and Jeff Denworth, formerly of CTERA Networks.[9][10] Mike Wing, formerly of Dell EMC, serves as company president.[10][11]

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).[12][9]

VAST ranked No. 5 on the 2022 Deloitte Technology Fast 500[13] and No. 3 on the 2023 Financial Times list of The Americas’ Fastest-Growing Companies.

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.[14][15][16][17]

In 2024 VAST was included in the Forbes Cloud 100, a list of the top private cloud computing companies, and was named a leader in the Gartner Magic Quadrant for File and Object Storage.[18]

Funding

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VAST Data has raised $381million in funding.[19]

In December 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.[20][21][22][23][24]

Series Date Amount (million $) Lead Investor(s)
A 2016 15 83North, Norwest
A1 2018 25 Dell Technologies Capital, 83North, Norwest
B 2019 40 Greenfield, 83North, Norwest
C 2020 100 Next47
D 2021 83 Tiger Global Management
E 2023 118 Fidelity Management and Research Co.

Product

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The VAST Data Platform enables organizations to store, manage, and process large amounts of structured and unstructured data for AI and deep learning initiatives. The platform comprises several:[25]

  • VAST DataStore (formerly known as Universal Storage), an unstructured data storage solution
  • VAST DataBase, a database management system (DBMS) that includes the constructs of a traditional database, data warehouse, and data lake
  • VAST DataEngine (scheduled to be generally available in 2024), a global function execution engine
  • VAST DataSpace, a global namespace that permits every location to store, retrieve, and process data
  • VAST InsightEngine with NVIDIA, a real-time retrieval-augmented generation (RAG) solution[26]

The platform is deployable in on-premises data centers, public clouds, and edge environments, and is delivered as a subscription-based service.[27]

Operations

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VAST partners with several systems technology vendors worldwide, including Arista, Cisco, Equinix, HPE, Lenovo, NVIDIA, and Supermicro.[28][29]

VAST is a no-headquarters company with offices in New York City; Durham, North Carolina; Campbell, California; and Yafo, Israel.[10]

References

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  1. ^ "VAST Closes Series E Funding Round, Nearly Triples Valuation to $9.1 Billion". www.vastdata.com. Retrieved 2024-11-14.
  2. ^ Mellor, Chris (February 26, 2019). "VAST Data: The first thing we do, let's kill all the hard drives". Blocks and Files.
  3. ^ Miller, Ron (April 16, 2020). "TechCrunch".
  4. ^ Coughlin, Tom (March 1, 2019). "VAST Storage Dreams". Forbes.
  5. ^ Adshead, Antony. "QLC + 3D Xpoint = Vast Data's universal storage". Computer Weekly.
  6. ^ Williams, Joe (April 17, 2020). "Business Insider".
  7. ^ "EMC buys XtremIO for $430m - Globes". en.globes.co.il. 2012-05-10. Retrieved 2023-11-15.
  8. ^ Kovar, Joseph F. (April 16, 2020). "Renen Hallak Talks Future". CRN.
  9. ^ a b Wilson, Alexandra (April 16, 2020). "VAST Data Gets $1.2 Billion Valuation, As Researchers Race To Combat COVID-19". Forbes.
  10. ^ a b c Mellor, Chris (February 26, 2019). "VAST Data's business sitrep". Blocks and Files.
  11. ^ "Mike Wing, Vast Data Inc: Profile and Biography". Bloomberg.com. Retrieved 2023-11-15.
  12. ^ Robinson, Daniel (2019-06-05). "VAST Data guarantees no downtime, no data loss". Blocks and Files. Retrieved 2023-11-15.
  13. ^ "2022 Technology Fast 500™ Rankings" (PDF). deloitte.com.
  14. ^ "VAST Data closes $118 million Series E, nearly triples valuation to $9.1 billion". ctech. 2023-12-06. Retrieved 2023-12-20.
  15. ^ "Genesys Cloud Reaches Nearly $1.3 Billion Annual Recurring Revenue in Third Quarter of Fiscal Year 2024". Genesys. Retrieved 2023-12-20.
  16. ^ McDowell, Steve. "VAST Data More Than Doubles Valuation to $9.1B in Latest Funding Round". Forbes. Retrieved 2023-12-20.
  17. ^ "Vast Data closes funding round in wake of AWS upgrade". Capacity Media. 2023-12-07. Retrieved 2023-12-20.
  18. ^ KONRAD", "KENRICK CAI"," ALEX. "Forbes Cloud 100 2024 List - Best Cloud Computing Companies Ranked". Forbes. Retrieved 2024-11-14.{{cite web}}: CS1 maint: multiple names: authors list (link)
  19. ^ Wiggers, Kyle (2023-12-06). "Vast Data lands $118M to grow its data storage platform for AI workloads". TechCrunch. Retrieved 2024-03-14.
  20. ^ Sharma, Shubham (2023-12-06). "AI infrastructure major VAST Data's valuation surges to over $9B after fresh funding". VentureBeat. Retrieved 2023-12-20.
  21. ^ "AI data platform VAST Data raises $118m at $9b valuation". Globes. 2023-06-12. Retrieved 2023-12-20.
  22. ^ "CrowdStrike and Optiv Surpass $1 Billion in Sales". wallstreet-online.de (in German). 2023-12-18. Retrieved 2023-12-20.
  23. ^ Wiggers, Kyle (2023-12-06). "Vast Data lands $118M to grow its data storage platform for AI workloads". TechCrunch. Retrieved 2023-12-20.
  24. ^ Hu and, Krystal. "VAST Data eyes IPO after valuation surges to $9.1 bln in latest fund raise". Reuters.
  25. ^ Morgan, Timothy Prickett (2023-08-01). "Vast Data Intentionally Blurs The Line Between Storage And Database - The Next Platform". www.nextplatform.com. Retrieved 2023-11-15.
  26. ^ Kimball, Matt. "VAST Data Deepens Its AI Enablement With InsightEngine". Forbes. Retrieved 2024-11-14.
  27. ^ "VAST Data Deep Learning Data Platform - Built for AI". StorageReview.com. 2023-08-04. Retrieved 2024-01-31.
  28. ^ Salamone, Salvatore (2023-10-01). "Real-time Analytics News for the Week Ending September 30". RTInsights. Retrieved 2023-11-15.
  29. ^ "Distribution underpinning VAST Data's EMEA expansion plans". MicroScope. Retrieved 2023-11-15.
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