AI storage platform Vast Data aimed for $25B valuation in new round, sources say
Large dataThe fact that an AI-friendly platform for data storage offers is in the market to increase a new round with a huge leap in the appreciation.
Earlier this year, the 9-year-old company was looking for a rating of around $ 25 billion, according to a person who is familiar with the deal. If it were to achieve that, it would be a huge leap of his $ 9 billion series E valuation secured in December 2023.
The deal was not completed and the conditions – including the appreciation – could change, this person said, adding that the requested appreciation was high at that time, despite impressive growth. Many VCs are interested in and watch huge, other sources tell tech crunch.
Fixed did not respond to a request for comment.
Permanent Data offers data management software in combination with uniform CPU, GPU and DataShardware from suppliers such as Supermicro, HPE and Cisco. While Old-School Data storage options depend on levels (cheap storage options for long-term storage, higher options for more often used data), the aim is to eliminate such levels. It is mainly focused on flash storage.
AI has been a blessing for the company of Vast. The company’s platform stores structured, semi-structured and unstructured data in one place that accelerates the collection of data and, according to, reduces the costs of model training and conclusions.
The customers of the company are large companies such as Pixar, Serviceenow and Xai, as well as AI-cloud providers of the next generation such as Coreweave and Lambda, who use the technology of extensive storage options to offer storage options to their end users.
Fixed an annual recurring income (ARR) of $ 200 million when it raised its series E about 18 months ago, WAN reported. The company grows with 2.5x to 3x year on year, Renen Hallak, CEO of Vast, CEO and co-founder, said on a podcast Last May. The company has also been positive for four years free cash flow, said Hallak.
On data storage options, the 16-year-old listed pure storage that has a market capitalization of nearly $ 17 billion, and the 12-year-old Weka, which last year yielded a round of $ 140 million with a rating of $ 1.6 billion. Fixed is also developing a database architecture that is competitive with the supply of data bricks.
Prior to the round that it is currently working, the company collected a total of $ 381 million from investors, including Fidelity Management & Research Company, NEA, Bond Capital and Drive Capital.
