VAST Data claims partners winning bigger deals has helped it hit $100m ARR in three years

Founder and CEO, Renen Hallak, called the last 12 months "an inflection point" for the vendor

Data platform specialist, VAST Data has reported reaching $100m annual recurring revenue (ARR), growing this by 2.5 times year over year.

Founded in 2016, the company claims to have hit this milestone going from $1m to $100m in ARR in three years.

Continued growth was also found in new customers and expansion in key verticals for the vendor such as life sciences organisations, financial services companies and more.

Its results also show that VAST has signed several strategic partnerships over the last 12 months with other vendors including NVIDIA, Vertica, Commvault and Dremio.

VAST's most recent vendor partnership was with storage giant Veeam to support its new data platform designed to try to eliminate risk of extended downtime due to ransomware attacks.

Founder and CEO at VAST Data, Renen Hallak, called the last 12 months a turning point for the vendor.

"Last year marked an inflection point for VAST as the explosion in machine data and AI propelled us beyond early adopter customers into more established, global enterprises who are looking to deploy innovative, yet proven technologies into their data stack.

On the role of the channel, Phil Manez, director of channel sales, said: "As VAST continues to add differentiating features and build new strategic alliances, our partners are seeing even bigger deals happening faster.

"VAST brings our partners the tools to tackle their customers' most strategic initiatives and a recurring revenue stream that's never been possible with an infrastructure solution."

He added: "With AI rapidly moving into mainstream, our partners will have an even bigger addressable market to position VAST in going forward."