Vast Data, a company featured in Vintage Altaroc Odyssey 2021 and specializing in cloud data storage, has just completed a new round of financing, raising its valuation to $9.1 billion.
With this new $118 million round of funding, the company will be able to accelerate its development, as co-founder Jeff Denworth explains: " This funding will simply be used to raise awareness of Vast and our mission. Vast operates on a positive cash flow basis. We've managed to create a company capable of tripling its sales every year without burning through mountains of venture capital ".
He adds, " to make a real impact in the age of AI and deep learning, you need not just lots of data, but high-quality data that's properly organized and available in the right place at the right time. The Vasst data platform provides an AI infrastructure that opens the door to automated discovery that can solve some of humanity's most complex challenges."
Vast Data was valued at $3.7 billion in 2021. The company, which counts Pixar and Verizon among its customers, should see its sales triple by 2023, to over $100 million.
