There’s a new wave coming—and Vast Data is trying to ride it straight to a $25 billion valuation.
Nine years in the game, and now this AI-centric data storage company is reportedly back in the funding arena, aiming for a valuation nearly 3x what it achieved just 18 months ago. Back in December 2023, it raised its Series E at a $9 billion valuation. Now, it’s reportedly eyeing $25 billion.
Ambitious? Definitely. Impossible? Maybe not.
So, what’s behind the leap?
Vast isn’t just building better data storage—it’s reimagining how data flows in an AI-native world. Unlike traditional systems that rely on multi-tiered storage (think: old-school silos of “hot” vs. “cold” data), Vast collapses everything into one layer—unified, flash-first, and AI-ready.
That’s a big deal when you’re training large AI models that need real-time access to structured, semi-structured, and unstructured data. It means faster retrieval, cheaper model training, and less friction in AI workflows.
Who’s buying in?
Clients like Pixar, ServiceNow, Elon Musk’s xAI, and cloud-native AI providers like CoreWeave and Lambda are already hooked. These are not early-stage experiments—they’re high-output, production-ready environments leaning on Vast to make it all run smoother.
The Growth Engine
According to CEO Renen Hallak, Vast has been pulling off 2.5x to 3x year-over-year growth, with $200 million in ARR when it raised its last round. Even more impressive? It’s been free cash flow positive for four years. In this climate, that’s rare air.
But it’s not flying solo in the market. Vast is up against Pure Storage (valued at nearly $17 billion) and Weka, which hit a $1.6 billion valuation in 2023. Vast is also angling toward database territory, looking to challenge players like Databricks.
The Bigger Picture
This isn’t just about storage—it’s about owning the data layer in an AI-first economy. With infrastructure becoming a bottleneck for large-scale AI deployment, players like Vast who can offer speed, efficiency, and scale are in pole position.
As investors circle and VCs watch closely, one thing’s clear: Vast Data isn’t playing small.
