Vast Data Reportedly Targets $25 Billion Valuation in Latest Funding Effort

11.06.2025

Vast Data, a company known for its AI-optimized data storage solutions, is reportedly pursuing a new funding round with an ambitious target valuation of $25 billion. This would represent a major leap from its $9 billion valuation during its Series E round in late 2023. While the deal remains in progress and the terms are not yet finalized, sources note that the sought-after valuation, though aggressive, reflects Vast’s rapid growth and rising influence in the data infrastructure space.

Founded nine years ago, Vast combines data management software with hardware integration from major vendors like Supermicro, Cisco, and HPE. The company differentiates itself by eliminating traditional storage tiers, focusing instead on a unified, flash-based architecture that is more aligned with AI workloads. Its platform supports the storage of structured, semi-structured, and unstructured data in a single layer, which helps speed up data access and reduces costs associated with training and deploying machine learning models.

AI’s explosive growth has fueled Vast’s momentum. Its client base includes well-known companies such as Pixar, ServiceNow, and xAI, as well as AI-focused cloud infrastructure providers like CoreWeave and Lambda. These organizations rely on Vast’s technology to deliver high-performance, scalable storage solutions to their end users.

Vast has experienced substantial revenue growth, reportedly reaching $200 million in annual recurring revenue during its last funding round. According to CEO Renen Hallak, the company has maintained a year-over-year growth rate between 2.5x and 3x and has been free cash flow positive for four consecutive years, signaling strong operational health.

In a competitive landscape, Vast stands alongside players like Pure Storage and Weka, and is also venturing into areas typically dominated by platforms like Databricks. To date, the company has raised $381 million from prominent backers including NEA, BOND Capital, Fidelity, and Drive Capital, as it continues to expand its footprint in AI-native data infrastructure.