News Summary

Vast Data, a company known for its AI-friendly data storage platform, is in the process of raising a new funding round with an ambitious target valuation of $25 billion. This represents a significant increase from its previous valuation of $9 billion during its Series E funding in December 2023. The company’s platform, which eliminates traditional storage tiers and is optimized for flash storage, has seen impressive growth partly due to the rise of AI technologies. Vast Data’s clients include major enterprises like Pixar and ServiceNow, as well as AI cloud providers such as CoreWeave. The company has been free cash flow positive for four years, showcasing strong financial health. Prior to this funding round, Vast Data had raised $381 million from investors including Fidelity Management & Research Company and NEA.