Vast Data raises $1 billion in Series F funding at $30 billion valuation

Vast Data completed a $1 billion Series F funding round at a $30 billion valuation, led by Drive Capital and Access Industries with participation from existing investors including Fidelity Management & Research Company, NEA, and Nvidia. The funding round included both primary and secondary capital, with proceeds allocated to solidify Vast's AI operating system's role in the AI ecosystem and fuel further growth. The company's valuation increased more than threefold since its last funding round in 2023, when it was valued at $9 billion. Vast Data's AI OS underpins several major neoclouds' AI platforms, including CoreWeave, Firmus, Nscale, and Fluidstack. The company reported surpassing $4 billion in cumulative bookings and exited the previous fiscal year with over $500 million in Committed Annual Recurring Revenue (CARR), alongside positive operating margin and free cash flow.

Counterparts (6)

Lender

Fidelity Management & Research Company

company · 1 deals

Fidelity Management & Research Company is a financial services company focused on helping individuals and institutions achieve their financial goals through investment management, retirement planning, and brokerage services. They offer a range of products and solutions, including mutual funds, ETFs, and wealth management services.

NEA

company · 1 deals

New Enterprise Associates (NEA) is a global venture capital firm focused on investing in technology and healthcare companies across all stages of development. While not exclusively focused on infrastructure, NEA has made investments in companies that support and enable infrastructure development, particularly in the technology sector.

Drive Capital

company · 1 deals

Columbus-based venture capital firm investing in technology companies across 24 cities in North America, with $2B in assets under management.

NVIDIA

company · 3 deals

NVIDIA is a technology company specializing in accelerated computing, particularly in AI and digital twins. Their technologies are used across various industries, including automotive, healthcare, and manufacturing, with a focus on enabling sustainable computing through energy-efficient solutions.

Access Industries

company · 1 deals

New Jersey-based renewable energy developer focused on solar, wind, battery storage, and green hydrogen projects in the US and Caribbean, with a track record of 750 MW developed across Texas and the Dominican Republic.

borrower

Vast Data

company · 1 deals

Vast Data is a data storage company that offers a platform designed to handle large-scale data storage and processing needs. Their technology is used in various industries, including those dealing with infrastructure and energy.