AI storage platform Vast Data aimed for $25B valuation in new round, sources say

Vast datawhich offers a data storage platform suitable for AI, is on the market to raise a new round to a giant jump in evaluation.

Earlier this year, the 9 -year -old company asked for an assessment of around $ 25 billion, according to a person familiar with the agreement. If it succeeds, it would be a massive jump of his Evaluation of the E 9 billion dollars series secured in December 2023.

The agreement was not finalized, and the terms – including their evaluation – could change, said this person, adding that the assessment requested was raised at the time, despite impressive growth. Many VCs are interested and look at large sources, tell Techcrunch.

Vast did not respond to a request for comments.

Vast Data offers data management software coupled with a unified CPU, GPU and supplier data hardware such as Supermicro, Hpe and Cisco. While the old -fashioned data storage options are based on levels (low -cost storage options for long -term storage, higher -end range options for more frequently used data), large elimination objectives of these levels. It is particularly intended for flash storage.

AI was a boon for Vast affairs. The company’s platform stores structured, semi-structured and unstructured data in a single place, which accelerates data recovery and, said, reduces the cost of the formation and inference of the model.

The company’s customers include large companies such as Pixar, ServiceNow and Xai, as well as new generation AI cloud suppliers like Coreweave and Lambda, who use Vast technology to offer storage capacities to their end users.

Vast had recurring annual income (arr) of 200 million dollars When he increased his E series about 18 months ago, Techcrunch reported. The company has increased by 2.5 times to 3 times on the other, Renen Hallak, CEO and co-founder of Vast, said on a podcast last May. The company is also positive on cash flows available for four years, said Hallak.

On data storage capacities, a large competition with pure 16 -year storage on the stock market which has a market capitalization of nearly $ 17 billion, and Weka, 12, which increased last year a $ 140 million at $ 1.6 billion assessment. Vast also develops a competitive database architecture with the Databricks offer.

Before the Tour on which he is currently working, the company has lifted a total of $ 381 million from investors, including Fidelity Management & Research Company, Nea, Bond Capital and Drive Capital.