Huge Information, which provides an AI-friendly information storage platform, is out there to boost a brand new spherical at a large leap in valuation.
Earlier this yr, the 9-year-old firm was searching for a valuation of round $25 billion, in line with an individual aware of the deal. Ought to it obtain that, it could be an enormous leap from its $9 billion Collection E valuation secured in December 2023.
The deal was not finalized, and phrases — together with its valuation — might change, this individual mentioned, including that the requested valuation was excessive on the time, regardless of spectacular development. Many VCs are excited by and watching Huge, different sources inform iinfoai.
Huge didn’t reply to a request for remark.
Huge Information provides information administration software program coupled with unified CPU, GPU, and information {hardware} from distributors like Supermicro, HPE, and Cisco. Whereas old-school information storage choices depend on tiers (low-cost storage choices for long-term storage, higher-end choices for extra incessantly used information), Huge goals to remove such tiers. It’s notably geared toward flash storage.
AI has been a boon to Huge’s enterprise. The corporate’s platform shops structured, semi-structured, and unstructured information in a single place, which accelerates information retrieval and, it says, reduces the price of mannequin coaching and inference.
The corporate’s clients embrace giant enterprises similar to Pixar, ServiceNow, and xAI, in addition to next-generation AI cloud suppliers like CoreWeave and Lambda, which use Huge’s expertise to supply storage capabilities to their finish customers.
Huge had annual recurring income (ARR) of $200 million when it raised its Collection E about 18 months in the past, iinfoai reported. The corporate has been rising at 2.5x to 3x year-over-year, Renen Hallak, Huge’s CEO and co-founder, mentioned on a podcast final Might. The corporate has additionally been free money circulation constructive for 4 years, Hallak mentioned.
On information storage capabilities, Huge competes with 16-year-old publicly traded Pure Storage that has a market capitalization of practically $17 billion, and 12-year-old Weka, which final yr raised a $140 million spherical at a $1.6 billion valuation. Huge can also be growing a database structure that’s aggressive with Databricks’ providing.
Previous to the spherical it’s presently engaged on, the corporate has raised a complete of $381 million from traders, together with Constancy Administration & Analysis Firm, NEA, BOND Capital, and Drive Capital.
