Vast Data’s valuation soars to $30 billion, raising $1 billion amid AI buildout boom
The Israeli-founded AI infrastructure company becomes the country’s most valuable private tech firm following the sale of Wiz.
Vast Data has raised a new funding round that values the company at $30 billion, more than tripling its valuation from $9.1 billion in late 2023, as investors increasingly back companies building the underlying infrastructure for artificial intelligence.
The Series F round, led by Drive Capital with Access Industries as co-lead, includes both new and existing investors, among them Fidelity Management & Research Company, NEA and Nvidia. The transaction totals approximately $1 billion, combining primary and secondary capital.
The valuation makes Vast the most valuable private high-tech company in Israel, approaching the $32 billion valuation achieved by Wiz in its sale to Google.
The company raised $1 billion in the round, but more than $500 million of that amount will not go into the company’s coffers. Instead, it will go to the bank accounts of early investors and employees who are selling part of their holdings. These are unusually large liquidity amounts, considering that Vast currently employs about 1,100 people, roughly a third of them in Israel.
Vast was founded in 2016 by Renen Hallak, who serves as CEO and lives in the United States, together with Shachar Fienblit, who leads development and operations in Israel.
The company is headquartered in the U.S., while its Israeli development center operates from offices at the Tel Aviv Expo complex, with an additional center opened in Haifa in 2021.
Vast set out to redesign data infrastructure for an era in which AI workloads would place fundamentally different demands on computing systems. Its core architecture, known as Disaggregated Shared Everything (DASE), was developed to address longstanding trade-offs between scale, performance, simplicity and cost.
Over time, the company expanded this foundation into what it describes as an “AI operating system,” combining data storage, compute and real-time processing into a single platform. The approach reflects a growing industry view that traditional layers of computing infrastructure are converging as AI systems become more complex and integrated.
According to the company, its platform is now embedded in a wide range of large-scale AI environments, supporting systems that run on millions of GPUs. Customers cited include cloud infrastructure providers, enterprises and government organizations.
Vast Data reported more than $4 billion in cumulative bookings and over $500 million in committed annual recurring revenue at the end of its most recent fiscal year. It also said it is operating with positive margins and free cash flow.
The company’s Israeli investor base includes Greenfield Partners and 83North, both early backers that have continued to participate in subsequent funding rounds.
Proceeds from the latest financing are expected to be used to expand the company’s global footprint, deepen partnerships and pursue strategic transactions aimed at extending its technology platform.
“We are already supporting AI environments spanning millions of GPUs globally, operating across every layer of the AI stack,” said Renen Hallak, Founder and CEO of Vast Data. “What is becoming clear is that these layers are no longer independent. Applications, models, and infrastructure now operate as a single system through data. VAST sits at the center of how that system works, which is why we are seeing this level of demand at global scale.”
