Overview

• VAST Data, a New York-based startup that provides a data storage solution for AI workloads, has raised $118 million in a Series E funding round, led by Fidelity Ventures.
• The funding round values VAST Data at $9.1 billion post-money, more than double its valuation from two years ago, and brings the startup’s total raised to $381 million.
• VAST Data's annual recurring revenue now stands at $200 million, and the company is growing 3.3x year over year.
• VAST Data is preparing for an initial public offering (IPO), although the timing will depend on market conditions.
• With the new funding, VAST Data plans to expand its business reach, with a focus on Asia Pacific, the Middle East, and Europe.