Vast Data Raises $80M for Flash Performance at Hard-Disk Prices

Vast Data’s Universal Storage system, which has been in general release since last November, was publicly unveiled this week. The exabyte-scale platform combines technical and architectural advances to reduce acquisition costs of Flash-based storage to that of hard-drive based approaches, the company claims. The company also announced a $40 million Series B funding round led by TPG Capital. That brings its total funding to $80 million. Vast Data now is backed by Norwest Venture Partners, TPG Growth, Dell Technologies Capital, 83 North, and Goldman Sachs. Jeff Denworth, co-founder and vice president of products at Vast Data, said the new funding will be used to complete the feature set and scale up the platform.