Hybrid data storage company VAST Data, a growing partner of Nvidia in data storage and management between different clouds, is currently in the process of raising capital at a valuation of $25 billion, according to a report on technology website TechCrunch.
It’s not clear whether the investors will agree to this valuation, but if they do it will be an impressive leap from the valuation of $9 billion that the company received in 2023. It will make it one of the highest valued Israeli technology companies, perhaps second only to cybersecurity company Wiz, recently sold to Google for $32 billion but still waiting for regulatory approval to complete the deal.
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VAST Data is managed from the US and is little known in Israel, but its founders are Israelis Renen Hallak (CEO), Shachar Fienblit (chief R&D officer), Amon Horev (VP Technology), plus Jeff Denworth, and it has offices in Tel Aviv.
Among the initial investors in the company were Israeli-British VC firm 83North, and US venture capital firm Norwest Venture Partners, in an investment led by its Israeli partner Dror Nahumi.
VAST Data has developed a system for the smart management of data storage utilizing artificial intelligence. Like other Israeli companies such as Weka, it has developed algorithms that facilitate the storage and retrieval of information, including information for rapid artificial intelligence processing, resulting in fast training of models and lower inference costs.
The company has one of the largest stands at the Nvidia GTC developers’ conference in San Jose in March, and Nvidia CEO Jensen Huang participated in a marketing video recommending its product.
Among VAST Data’s customers are Samsung, NASA, the US Hockey League, Pixar, ServiceNow, and cloud computing providers such as CoreWeave and Lambada.
VAST Data’s annual recurring revenue is estimated at about $500 million. According to PitchBook, the company had raised nearly $400 million before embarking on the current round. The previous round was in 2023, at a valuation of $9.1 billion.
Published by Globes, Israel business news – en.globes.co.il – on June 11, 2025.
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