VAST Data company profile: valuation, funding & revenue

This VAST Data company profile covers the company's valuation, revenue, funding rounds, investors and history. VAST Data works in AI infrastructure, with a focus on data storage and AI data platform. It was founded in 2016 and is headquartered in New York, New York, United States. Its latest valuation on record is US$30 billion (April 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

More than US$500 million — Committed annual recurring revenue (company-reported), as of April 2026. Source: ChannelLife.

Funding history

VAST Data timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2016 — VAST Data is founded in New York by Renen Hallak (CEO), Shachar Fienblit and Jeff Denworth.
• Dec 2023 — Series E: About US$118M, valuing the company at US$9.1B. Investors: Fidelity (lead).
• Apr 2026 — Series F: About US$1B (primary and secondary), valuing the company at US$30B. Investors: Drive Capital and Access Industries (leads); Fidelity, NEA, Nvidia.
• April 2026 — Cumulative bookings: More than US$4 billion; positive operating margin and free cash flow in its last fiscal year (company-reported).

Investors

Overview

VAST Data builds software that stores and serves the enormous amounts of data that AI requires. Its platform combines very fast, large-scale storage with a database and compute capabilities, so AI labs, cloud providers and enterprises can keep training data, model checkpoints, images, video and text in one system and feed it to thousands of GPUs at high speed. VAST has become a key supplier to the "neoclouds" and AI labs building giant GPU clusters, and its valuation more than tripled to US$30 billion in 2026, making it one of the most valuable private infrastructure software companies in the world.

Renen Hallak, the CEO, Shachar Fienblit and Jeff Denworth founded VAST Data in 2016. Hallak and Fienblit are Israeli engineers who previously worked on storage systems at XtremIO, which was acquired by EMC; Denworth came from storage company DataDirect Networks. VAST is headquartered in New York with major research and development in Israel.

Products

• VAST DataStore: scale-out storage that handles files, objects and blocks at exabyte scale using flash memory.
• VAST DataBase: a database built into the storage layer for structured data and metadata, including vector search for AI.
• VAST DataEngine: compute functions that process data where it's stored, triggering AI pipelines automatically.
• AI operating system: software that helps run AI agents and inference on data across data centres and clouds.

Funding

VAST raised from investors including Norwest Venture Partners, Goldman Sachs, Dell Technologies Capital, NEA, Fidelity and Nvidia. Its December 2023 Series E, led by Fidelity, valued it at US$9.1 billion. In April 2026 it announced a Series F of about US$1 billion, split between new primary capital and secondary sales, at a US$30 billion valuation, led by Drive Capital and Access Industries, with Fidelity, NEA and Nvidia participating. CEO Renen Hallak said the mix gave the company flexibility over whether and when to pursue an IPO, which reports suggested could come within one to two years.

Revenue and profitability

VAST said it had more than US$4 billion in cumulative bookings and over US$500 million in committed annual recurring revenue, and that it ended its previous fiscal year with a positive operating margin and positive free cash flow. Profitability is unusual for a fast-growing infrastructure company and contributed to investors' willingness to pay a high valuation.

Business model

VAST sells software subscriptions, typically run on standard hardware from partners such as Supermicro, HPE and Cisco, or on cloud infrastructure. Large AI cloud providers and labs sign big multi-year contracts as they build clusters. Separating its software from proprietary hardware lets VAST capture software-like margins while customers choose their own servers.

Competition

VAST competes with storage vendors such as Dell, NetApp, Pure Storage, DDN and Weka, with cloud providers' storage services, and with data platforms such as Databricks and Snowflake as it expands into databases and compute. Its advantages are performance at very large scale, its single platform for many data types and its strong position with AI cloud builders such as Crusoe and CoreWeave.

VAST Data at a glance

VAST Data is a New York AI data platform company founded in 2016 by Renen Hallak, Shachar Fienblit and Jeff Denworth, with R&D in Israel. It reported more than US$500 million in committed ARR and positive free cash flow. It was valued at US$9.1 billion in 2023 and US$30 billion in an about US$1 billion Series F in April 2026, led by Drive Capital and Access Industries.

Timeline

• 2016: founded.
• 2019: launches its all-flash storage platform.
• 2023: raises at US$9.1 billion as AI cluster demand grows.
• 2024–2025: adds database and compute capabilities; signs large deals with AI clouds.
• April 2026: raises about US$1 billion at US$30 billion.

Why storage matters for AI

Training a frontier model can involve petabytes of data read repeatedly by tens of thousands of GPUs. If storage can't deliver data fast enough, expensive GPUs sit idle. Checkpoints, snapshots of model state saved during training, must be written quickly so training can resume after failures. Inference and AI agents also need fast access to company data for retrieval. Traditional storage systems weren't designed for these demands, creating an opening for platforms like VAST.

Who uses VAST Data

VAST's customers include AI cloud providers, AI labs, large enterprises, financial firms, research institutions and government agencies that run large GPU clusters or manage massive data sets.

Risks

• AI spending cycles: growth depends on continued investment in AI data centres.
• Customer concentration: a few very large AI cloud customers may account for much of revenue.
• Valuation: a US$30 billion valuation implies a high multiple of current ARR.

Questions for infrastructure buyers

• What throughput can the platform deliver to your GPU clusters?
• How does total cost compare with traditional storage at your scale?
• How well does it support the data types and pipelines you use?

Valuation context

A US$30 billion valuation on more than US$500 million of committed ARR implies a multiple of roughly 60 times, high even by software standards. Investors are betting that VAST's role in AI data centres will keep growing quickly and that its profitability will support a strong public market debut. Comparisons with listed storage and data companies will matter if it files for an IPO.

Latest developments (October 2026)

VAST Data's April 2026 Series F valued it at US$30 billion, more than triple its 2023 level, in a round of about US$1 billion that was mostly secondary shares, according to Bloomberg Law. Drive Capital led with Access Industries. The company reported more than US$4 billion in cumulative bookings and over US$500 million in committed annual recurring revenue, according to ChannelLife, and Bloomberg said it is weighing an IPO. See our AI infrastructure guide.

What to watch

Watch for an IPO filing, ARR updates, large AI cloud contracts and competition from storage incumbents. Our guides to AI infrastructure companies and upcoming tech IPOs give wider context.

Takeaways

AI builders can feed huge GPU clusters from a single data platform. Founders can see how infrastructure timed to a technology wave can grow quickly and profitably. Investors should watch whether growth justifies its rapid valuation increase.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Bloomberg Law (Bloomberg)
2. ChannelLife