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Vast Data CEO Renen Hallak Talks Future, Finance And A $100M Funding Round

Vast Data's Series C funding comes as the company still has plenty of cash after the last funding round, giving the storage industry's newest unicorn a $1.2-billion valuation and plenty of runway to build its technology and channels.

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Storage Industry's Newest Unicorn

Vast Data early last year introduced its Universal Storage system, which the New York-based storage technology developer said combines high performance and low-cost technologies to develop exabyte-scale storage with the cost of traditional storage systems. Vast Data does this with a combination of three technologies: high-performance NVMe-over-Fabric that allows CPUs to directly access the internal SSDs, low-cost consumer-grade QLC (quad-level cell) flash technology, and 3D Xpoint non-volatile memory technology. It is targeted at high-performance workloads in such areas as artificial intelligence, machine learning, data analytics, and deep learning.

Vast Data on Thursday unveiled its Series C round of funding worth $100 million. CEO Renen Hallak told CRN that the company still has the $40 million the company raised in its last funding round, giving it over $140 million in the bank and a large cushion with which the company can invest in expanding its technology and exponentially grow its revenue with the help of its channel-focused business model.

Hallak said Vast Data, which achieved unicorn status with its new $1.2-billion valuation, has one of the fastest revenue growth records in the storage industry. For more about the company, its growth, and its upcoming Universal Storage 3.0, turn the page.

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