Vast Data hits $30B valuation with $1B raise

Vast Data has raised $1 billion in a Series F round, valuing the company at $30 billion, more than triple its 2023 valuation of $9.1 billion. The round was led by Drive Capital and co-led by Access Industries, with participation from existing investors including Nvidia and Fidelity. The company reports over $4 billion in cumulative bookings, $500 million in committed annual recurring revenue, and positive free cash flow. CEO Renen Hallak said AI demand is driving growth as enterprises move from experimentation to production-scale deployments, and indicated the company could be IPO-ready by end of 2025.