VAST Data Reaches $30 Billion Valuation in Series F Funding Led by Drive Capital

VAST Data has closed its Series F financing at a $30 billion valuation, more than tripling its $9.1 billion valuation from late 2023, announced in a press release. The round was led by Drive Capital, with Access Industries as co-lead, and included participation from existing investors such as Fidelity Management & Research Company, NEA, and NVIDIA, as well as new backers.

The financing combined primary and secondary capital, totaling roughly $1 billion. VAST Data plans to use the primary funds to strengthen its position as an AI operating system provider and expand its global presence through technology and partnership initiatives.

Founded in 2016, VAST Data developed its Disaggregated Shared Everything architecture and later built the VAST AI Operating System, which integrates data, compute, and processing into one platform. The system supports AI model training and inference for organizations including CoreWeave, Lowe's, the U.S. Air Force, and Cursor.

The company reported over $4 billion in cumulative bookings and more than $500 million in committed annual recurring revenue at the end of its last fiscal year, while maintaining positive operating margin and free cash flow.