US-based computer storage technology developer Vast Data emerged yesterday with a total of $80m in funding obtained from investors including Dell Technologies Capital, the investment arm of technology company Dell.
Norwest Venture Partners, 83 North, Goldman Sachs and an unnamed TPG Growth-sponsored investment platform also contributed capital.
Vast Data raised the money over two rounds but did not specify individual amounts or reveal which investors participated in what transaction.
Vast Data has developed data storage technology that is able to deal with all enterprise needs from archiving to handling heavy workloads while being low-cost and scalable.
The company has not clarified what it intends to do with the funding but revealed that it had experienced significant demand for its platform since a general release in November 2018.
Renen Hallak, founder and chief executive of Vast Data, said: “Storage has always been complicated. Organisations for decades have been dealing with a complex pyramid of technologies that force some trade-off between performance and capacity.
“Vast Data was founded to break this and many other long-standing trade-offs. By applying new thinking to many of the toughest problems, we are working to simplify how customers store and access vast reserves of data in real time, leading to insights that were not possible before.”
