VAST Data Secures $100M For Storage, Triples Valuation To $1.2B
Summary
VAST has developed an all-flash storage platform that it says makes flash infrastructure affordable for all classes of data, thus “rendering the hard drive and storage tiering obsolete.” The company formally launched the platform in late December of 2018 and emerged from stealth in February of 2019, according to Jeff Denworth, co-founder and VP of products. It says its technology can be used across a range of sectors, and can even help organizations tackle the global spread of COVID-19 by powering next-generation life science advancements. Key vertical markets today include life sciences, financial services, government and film animation, Denworth told Crunchbase News. Denworth told me that since VAST is taking market share from billion-dollar companies, it “needed a public yardstick to show that we are both doing well and we’re well capitalized for the foreseeable future.” “We did this to offer our customers and prospects the peace of mind that we’re here to support our current and future customers for the long term,” he wrote via email. “…We wanted to be sure that we could scale up to meet the needs of this pent-up market demand.” In a blog this week, Denworth also outlined the rationale behind VAST describing itself as a camel.