Funding round
VAST Data Series C
VAST Data, which works in AI operating system development in United States, raised $100M in a Series C round announced on 16 Apr 2020, led by Next47, at a $1.20B post-money valuation. 8 firms took part. It is VAST Data's second venture round on record; the one before was a Series B in Feb 2019.
$100M
Amount raised
$1.20B
Post-money valuation
8
Investors
1 lead
8.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced VAST Data at $1.20B after the new money. The $100M bought investors about 8.3% of the company. It came 14 months after VAST Data's Series B. It is 7.5% of the $1.34B VAST Data has raised in the venture rounds on record. VAST Data raised again 13 months later: a Series D round of $83M in May 2021, at $3.70B post-money.
VAST Data's funding rounds
VAST Data has 5 venture rounds on record. This one is highlighted.
- Series B 24 Feb 2019 $40M
- Series C this round 16 Apr 2020, led by Next47 $100M$1.20B post-money
- Series D 4 May 2021, led by Tiger Global $83M$3.70B post-money
- Series E 6 Dec 2023, led by Fidelity Management & Research Company $118M$9.10B post-money
- Series F 22 Apr 2026, led by Drive Capital and Access Industries $1.00B$30.00B post-money
Investors
Who put money in
Next47 led the round with 7 other firms.
Lead investor
- Next47 new investor
Also in the round
- 83North new investor
- Commonfund Capital new investor
- backs 79 venture-backed companies new investor
- Goldman Sachs backs 218 venture-backed companies new investor
- backs 25 venture-backed companies new investor
- Mellanox Capital new investor
- Norwest Venture Partners new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
18 Series C rounds in Software Development Services within a year either side disclosed an amount; the median was $46M, and this round was 2.2 times the median. The closest in time, other companies' Series C rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 21 Apr 2020 | $35M | $1.00B | Tomales Bay Capital |
| Software Development Services | 25 Mar 2020 | $16M | not disclosed | not named |
| Software Development Services | 27 Feb 2020 | $25M | not disclosed | Georgian |
| Software Development Services | 3 Jan 2020 | $175M | $1.00B | Vulcan Capital and Andreessen Horowitz |
| Software Development Services | 1 Jul 2020 | $40M | not disclosed | not named |
| Software Development Services | 15 Jul 2020 | $20M | not disclosed | Molten Ventures |
| Software Development Services | 22 Sep 2020 | $133M | $708M | Group 42 and BP Ventures |
| Software Development Services | 17 Dec 2020 | $130M | $500M | Technology Crossover Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did VAST Data raise in its Series C round?
VAST Data raised $100M in its Series C round, announced in Apr 2020.
Who led VAST Data's Series C round?
Next47 led it, with 83North, Commonfund Capital, Dell Technologies Capital, Goldman Sachs and Greenfield Partners and 2 more.
What was VAST Data's valuation at the Series C round?
$1.20B post-money.
How does it compare with other Series C rounds in Software Development Services?
18 Series C rounds in Software Development Services within a year either side disclosed an amount; the median was $46M, and this round was 2.2 times the median.
Did VAST Data raise again after this round?
Yes: a Series D round in May 2021 of $83M at $3.70B post-money.