US-based data storage technology provider Vast Data has received $83m in series D funding from investors including graphics processing unit producer Nvidia at a $3.7bn valuation.
Hedge fund manager Tiger Global Management led the round, which included undisclosed existing investors and which pushed the company’s overall funding past $260m.
Vast Data has built an all-flash data storage infrastructure platform that removes the high-cost barriers associated with flash storage technology as well as the capacity limits found in legacy systems.
Renen Hallak, Vast Data’s founder and chief executive, said: “The pioneering and inventive spirit of our team influences every aspect of our product and business and has redefined how successful businesses can be built.
“We are humbled by today’s validation from Tiger and Nvidia. It is evidence of our accomplishments to date and serves as a launchpad for the opportunity ahead of us.”
Vast Data was founded in 2016 and emerged from stealth in February 2019 with $80m of series A and series B funding from computing technology producer Dell’s corporate venturing unit, Dell Technologies Capital, as well as Norwest Venture Partners, 83 North, Goldman Sachs and Greenfield Partners.
The company later revealed it had raised a total of $40m in the series B round, which preceded a $100m series C in April 2020 led by Next47, a corporate venturing subsidiary of industrial equipment and appliance producer Siemens.
Mellanox Capital, the investment arm of networking technology provider Mellanox Technologies, also took part in the round alongside Dell Technologies Capital, Goldman Sachs, 83North, Commonfund Capital, Greenfield Partners and Norwest Venture Partners.