Vast Data Founder On New $118M Funding And Why It’s Going To ‘Sit In The Bank’
Summary
New $118 Million Funding: Nice To Have, Not Need To Have This week was a big one for one of the tech industry’s largest “unicorn,” Vast Data. The New York-based developer of a platform which combines storage, database, and compute to power AI and GPU-accelerated applications, unveiled its series E round of funding that not only brought it an extra $118 million in cash, but also nearly tripled its valuation to $9.1 billion. “These types of events are very important because there are very few companies that are actually doing what are called ‘up rounds’ in the market and seeing material increases in valuation,” he said. And the best way we have to express our business performance is to show the world through these valuating events.” Not that Vast Data really needed that much additional external validation. Now, with GPUs and neural networks, you have these technologies that are capable of understanding data that comes from the natural world.
Funding
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