Vast Data Closes $118M Series E Funding; Valued at $9.1 Billion
Summary
The company intends to use the funds to broaden its business presence, penetrating new regions in Asia Pacific, the Middle East, and Europe. The platform enables organizations to understand all data, both structured and unstructured as it exists in the natural world, to generate superior insights and unlock new value. The company achieved 3.3x year-over-year (YoY) growth and maintained positive cash flow for the last 12 quarters with a gross margin of nearly 90%. Its customer roster of global enterprises include Booking Holdings, Inc., U.S. Air Force, U.S. Department of Energy, Verizon, Boston Children’s Hospital, Pixar, and Zoom, among others. The VAST Data Platform delivers AI infrastructure that opens the door to automated discovery that can solve some of humanity’s most complex challenges.“