Vast Data Completes Series E Financing Round

Artificial intelligence (AI) data platform company Vast Data secured $118 million in Series E financing. It almost tripled its valuation to $9.1 billion. Fidelity Management & Research Co. led the financing round. New Enterprise Associates (NEA), Bond Capital and Drive Capital also participated.

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Artificial intelligence data platform company Vast Data

The Vast Data platform combines storage, database, containerised compute engine services and a single software platform that powers AI, graphics processing unit (GPU) and accelerated tools in data centres and clouds. It enables organisations to understand all data, both structured and unstructured, create insights and unlock new value.

Since its inception, Vast Data has worked closely with partners to eliminate technology trade-offs and barriers while improving the overall customer experience, the company said. In April 2023, Vast Data entered into a strategic partnership with HPE to help enterprise customers manage unstructured data at scale with high performance to deliver superior insights in time to data.