Path data that offers a AI-friendly data storage platform is on the market to build a new round with a huge leap.
At the beginning of this year, the 9-year-old company was looking for around $ 25 billion, according to a person who was familiar with the deal. If it achieved this, it would be a massive jump from the evaluation of Serie E of 9 billion US dollars in December 2023.
The deal was not completed, and the conditions – including its evaluation – were able to change, said this person and added that the requested evaluation was high despite impressive growth at that time. Many VCS are interested in observing huge sources and observing how other sources tell aitechnologia.
Vast did not respond to a request for comments.
Path data offers data management software in conjunction with uniform CPU, GPU and data hardware from providers such as Supermicro, HPE and Cisco. While the data storage options of the old school are dependent on levels (inexpensive memory options for long -term memory, higher options for more frequent data), big goals are to eliminate such levels. It is particularly aimed at the flash memory.
AI was a blessing for vast business. The company’s platform stores structured, semi-structured and unstructured data in one place, which accelerates the access of data and reduces the costs for model training and inference.
The company’s customers include large companies such as Pixar, ServiceNow and Xai as well as AI cloud providers of the next generation such as CoreWeave and Lambda, which use their end users to provide storage functions.
Vast had an annual recurring turnover (ARR) of 200 million US dollars when it increased its series e about 18 months ago, Techcrunch reported. The company is growing by 2.5 times compared to the previous year, said Renen Hallak, CEO of Vast and co -founder, in a podcast in May. The company has also been positive for four years, said Hallak.
With regard to data storage functions, enormous competition competes with the 16-year-old publicly traded pure memory, which has a market capitalization of almost $ 17 billion, and the 12-year-old WEKA, who brought in a round of $ 140 million with $ 1.6 billion last year. Vast also develops a database architecture that is competitive with the offer of Databricks.
Before the round on which it is currently working, the company has raised a total of 381 million US dollars from investors, including Fidelity Management & Research Company, NEA, Bond Capital and Drive Capital.