Israeli Software Storage Firm VAST Data Raises $83M, Triples Valuation To $3.7B

Israeli-founded flash storage startup VAST Data raised another $83 million in a Series D funding round led by Tiger Global Management at a post-money valuation of $3.7 billion – a tripling of the company’s valuation since April 2020 when it raised $100 million at a value of $1.2 billion. The current round featured strong participation from US chip giant Nvidia and existing investors, the company indicated this week.

Founded in 2016 by Israeli entrepreneurs Renen Hallak and Shachar Fienblit, and based in New York, VAST Data says it is “bringing an end” to complex storage tiering and hard disk drive usage by consolidating applications onto an all-flash storage system, which still enables servers to operate and scale independently. The company says it is modernizing data centers to prepare for the era of AI computing and is poised to disrupt and transform cloud and AI data centers globally.

VAST data also says it has experienced quick growth and, since its official launch in February 2019, has become “the fastest-selling infrastructure startup in history.”

“VAST Data’s innovation engine has resulted in a breakout business story that speaks for itself,” said John Curtius, partner at Tiger Global Management. “We’re excited to partner with VAST as they transform the value that organizations extract from their data, and we see incredible potential as enterprises embrace data-driven AI computing across every facet of their business.”

“The pioneering and inventive spirit of our team influences every aspect of our product and business and has redefined how successful businesses can be built,” said Hallak, who serves as VAST data CEO. “We are humbled by today’s validation from Tiger and NVIDIA. It is evidence of our accomplishments to date and serves as a launchpad for the opportunity ahead of us.”