Remote-First-Company | NEW YORK CITY – December 3, 2024 – VAST Data, the AI data platform company, today announced that the company has been named to Inc.’s 2024 Best in Business List in the AI and Data category. Inc.’s annual Best in Business Awards recognize the exceptional achievements and contributions of companies that have made a profound impact on their industries and on society at large.
VAST Data was included on this list for its significant momentum with customers and partners over the last year and its unique, innovative approach to AI and data infrastructure. The VAST Data Platform is the first unified data platform built for AI workloads – integrating storage, database functionality, and containerized compute engine services within a single, scalable platform to efficiently power AI deployments in modern data centers across the globe. Quickly becoming the new standard for enterprise AI infrastructure, VAST empowers organizations to unlock the full potential of their data by providing a simple and scalable architecture to power deep learning and GPU-accelerated data centers and clouds.
For over 40 years, Inc. has been committed to recognizing America’s most dynamic businesses and honoring the great work they do,” said Inc. editor-in-chief Mike Hofman. “These businesses have had a profound impact on their industries, solving important problems, and shaping the future of business in ways that will have lasting effects.
Inc.’s Best in Business list recognizes companies that have demonstrated exceptional execution to achieve significant milestones and core business wins, like customer expansion, key product launches, increased market share, industry-defining accomplishments and positive influence on the business world.
VAST has seen impressive momentum across each of these categories over the last year:
Customer Acquisition Expansion: The VAST Data Platform is the AI data platform of choice for some of the world’s most data-intensive customers – providing fast access to massive data sets for their deep learning and AI deployments.
Extensive Cloud Service Provider Adoption: VAST has partnered with hyperscalers and many of the emerging cloud service providers, establishing the company as the de facto data management foundation for GPU/AI clouds.
Growing Strategic Partnerships: VAST has forged a series of high-profile partnerships with industry-leading technology vendors to transform how organizations build and advance AI across their business.
Technology Innovation and Industry Leadership: After unveiling the industry-disrupting VAST Data Platform in 2023, VAST announced in October 2024 the VAST Data InsightEngine, a new capability allowing organizations to turn unstructured data into actionable insights in real-time. VAST also launched Cosmos, a tech community formed to simplify and accelerate AI adoption, exploration and discovery.
Business Performance and Increased Valuation: In December 2023, VAST announced a Series E funding round that valued the company at $9.1 billion, nearly tripling the company’s valuation from 19 months earlier. At the same time, VAST announced $1 billion in cumulative software sales and $200 million in ARR in just four years of selling, while remaining cash flow positive for 12+ quarters.
VAST continues to experience explosive growth across the industry - with customers, partners and internally as the company scales to meet the massive demand for AI-ready data infrastructure,” said Marianne Budnik, CMO at VAST Data. “We’re proud to be honored on Inc.’s reputable Best in Business List this year, recognizing our success and the innovative work we’re doing to help organizations extract immense value from their data as they build and use new AI models and applications that will transform their business.
Methodology: Inc.’s Best in Business Awards are open to companies of all sizes and types, in all industries and locations. Public, private, nonprofit, subsidiary, U.S.-based, and international companies are all encouraged to apply. Inc. editors and reporters hand-review every application and select Best in Business honorees that, in each of the award categories, have had an outstanding influence on their communities, their industries, the environment, or society as a whole.
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