Vast Data has completed a $1 billion Series F funding round, reaching a $30 billion valuation—more than triple its $9.1 billion valuation in 2023 and higher than the sale price of Wiz. The company now employs about 1,200 people, including 500 in Tel Aviv and Haifa.

The round was led by Drive Capital and Access Industries, with participation from Nvidia, Fidelity, and NEA. A significant portion of the deal involved existing shareholders selling stock, though the exact breakdown was not disclosed.

Founded in 2016 by CEO Renan Halak and co-founder Shahar Finblit, Vast develops data storage systems designed for large-scale computing. Its platform consolidates data in a single system to improve speed and reduce costs.

The company positions itself as an “AI operating system,” reporting over $4 billion in backlog and more than $500 million in annual recurring revenue. Its clients include the U.S. Air Force, xAI, and Pixar.