Overview
- Vast Data, which disclosed the Series F on Wednesday, secured about $1 billion at a $30 billion valuation, more than triple its 2023 mark.
- Drive Capital and Access Industries led the round, with Nvidia, Fidelity and NEA participating, and the deal mixed primary funding with secondary share sales.
- The company builds software to store and serve huge datasets for training and running AI models, and it lists CoreWeave, Mistral and the U.S. Air Force as customers.
- Vast reports more than $4 billion in cumulative bookings, over $500 million in committed annual recurring revenue, and positive operating margin and free cash flow.
- The firm says the new capital will fund global growth and partnerships as AI investing hits records this year, with Dealroom tallying about $280.5 billion and Nvidia stepping up startup bets.