VAST Data Soars to $3.7 Billion, Tripling Its Valuation in One Year

VAST Data Raises $83 Million Series D, Catapulting It Into the AI‑Data Center Hall of Fame

VAST Data, the storage software trailblazer that’s tearing down the old trade‑offs of data centers, just closed a whopping $83 million Series D round. Tiger Global Management led the charge, nudging the company’s valuation to a dazzling $3.7 billion—a full three‑fold jump since April 2020. NVIDIA and a host of seasoned investors also channeled in, all thanks to VAST’s rapid customer adoption and pure, positive cash flow.

The Money‑Making Machine

The new infusion sits on top of previous Series B and C investments, giving VAST a robust $230 million balance‑sheet cushion. With this backdrop, the firm is poised to become the next big independent infrastructure disruptor, ready to transform cloud and AI data centers worldwide.

Record‑Breaking Results, Tremendous Traction

When VAST ended its second year, it was riding a wave of nearly $100 million in annualized software run rate—quadrupling its software business week‑over‑week. Even better: it’s already cash‑flow positive—no more headache about fundraising to stay afloat.

Gemini: The New Software‑First Gamechanger

VAST’s Gemini model detaches hardware from software, giving customers more commercial benefits and driving adoption of its Universal Storage solution. Think of it as a shiny new “plug‑and‑play” suite that’s about to become the norm.

What Made the Investors Crack Open Their Wallets

300%+ Revenue Expansion: Clients typically put down a $1 million stake and then double‑time it. On average, VAST’s net revenue from existing customers jumped 328%, with several private and public sector customers throwing over $10 million into Universal Storage.
Hypergrowth & Positive Cash Flow: VAST marries blazing‑fast revenue growth with rock‑solid cash efficiency. The average selling price of $1 million, combined with revenue expansion, means more money in the pot with fewer resources—keep the engine revving without needing additional capital raises.
AI‑Computing Foundations: Fast data access is the backbone of today’s AI thesis. VAST’s vision stretches far beyond mere storage, reshaping how companies compute, infer, and train AI models. In the age of digital transformation, VAST is steering us toward natural data analytics.

Words From the Top

Renen Hallak, Founder & CEO said, “Our team’s pioneering spirit fuels every product and business decision. The validation from Tiger and NVIDIA feels like a trophy—proof of what we’ve built so far and a launchpad for the future.”

John Curtius, Tiger Global Partner added, “VAST’s innovation is a runaway success story. We’re thrilled to join them as they transform how organizations extract value from data. The potential is huge as enterprises dive deep into data‑driven AI.”