VAST Data Closes Series E Funding Round, Nearly Triples Valuation to $9.1 Billion

Global Momentum and Demand for VAST Data Establishes Company as the Market Leader for Deep Learning and AI Infrastructure

NO-HEADQUARTERS | NEW YORK, Dec. 06, 2023 (GLOBE NEWSWIRE) — VAST Data, the AI data platform company, announced today that it has secured $118 million in Series E funding, led by Fidelity Management & Research Company and accompanied by New Enterprise Associates (NEA), BOND Capital and Drive Capital.

The funding will advance VAST Data’s mission to deliver a new category of infrastructure that puts data at the center of how systems think, react, and discover. This breakthrough will empower organizations to effectively address their most pressing data challenges, enabling unprecedented advancements in technology, economics, social dynamics, and scientific research.

The VAST Data Platform unifies storage, database, and containerized compute engine services into a single, scalable software platform architected from the ground up to power AI and GPU-accelerated tools in modern data centers and clouds. The platform uniquely enables organizations to understand all data, both structured and unstructured as it exists in the natural world, to generate superior insights and unlock new value.

“A new AI data stack is required,” said Renen Hallak, CEO and Co-Founder of VAST Data. “To be truly impactful in this era of AI and deep learning, you not only want to have a lot of data, but also high quality data that is correctly organized and available at the right place, at the right time. The VAST Data Platform delivers AI infrastructure that opens the door to automated discovery that can solve some of humanity’s most complex challenges.”

“We believe that VAST Data is a pioneer in the AI GPU space,” said Scott Sandell, Chairman, CEO and CIO at NEA. “With deep learning at the center of the massive AI movement we are experiencing, interest and investment in VAST Data has escalated, and we are thrilled to partner with the VAST Data team as they drive influence and innovation in the global AI technology sector.”

The funding follows a pivotal 2023 calendar year, marked by:

  • Impressive Business Momentum: At the end of FY’Q3, VAST Data surpassed $1 billion in cumulative software bookings. The company achieved 3.3x year-over-year (YoY) growth and maintained positive cash flow for the last 12 quarters with a gross margin of nearly 90%.
  • Organizations Across All Industries Trust VAST Data: VAST Data has amassed a growing customer roster of global enterprises including Booking Holdings, Inc., U.S. Air Force, U.S. Department of Energy, Verizon, Boston Children’s Hospital, Pixar, and Zoom, among others, signaling strong market validation.
  • Reimagining AI Cloud Infrastructure: Through innovative customer partnerships with companies like CoreWeaveLambda and Core42 (formerly G42 Cloud), VAST Data is delivering the infrastructure that is purpose built for next-generation AI clouds.
  • Deepened Commitment to Partners: Since its founding, VAST Data has worked closely with partners to break down technology tradeoffs and barriers while improving the overall customer experience. In May 2023, VAST Data furthered this mission with the VAST Data Platform achieving NVIDIA DGX SuperPOD certification, making large scale AI deployments simpler, faster, more reliable and easier to manage. In April 2023, VAST Data entered into a strategic partnership with HPE, helping enterprise customers manage unstructured data with high performance at scale to deliver superior time to data insight.
  • Global Expansion: Now with more than 700 employees worldwide VAST Data is actively broadening its business footprint, penetrating new regions in Asia Pacific, the Middle East, and Europe.

Supporting Quotes

The VAST Data Platform’s capacity to process large quantities of data at unparalleled scale and speed signifies a transformative shift in industry operations, underscoring the pivotal role of deep learning AI in shaping future advancements. This sentiment was shared by customers and partners across the industry, including:

“Data is every company’s most valuable asset,” said Manuvir Das, vice president of Enterprise Computing at NVIDIA. “NVIDIA and Vast Data are collaborating to enable enterprises to harness their data using accelerated computing and cloud-based AI solutions to tackle their biggest challenges.”

“Some of the most data-intensive and computationally advanced customers on the planet trust CoreWeave, NVIDIA and VAST to deliver the most secure and scalable solutions on top of the industry’s fastest and most flexible AI infrastructure,” said Michael Intrator, CEO and co-founder of CoreWeave. “We’re honored to partner with VAST to provide purpose-built accelerated computing solutions that solve the complex AI and data challenges that enterprises face now and into the future.”

“Data is the only competitive advantage in AI and therefore infrastructure that can simplify and scale data access is crucial for any organization training AI models,” said Sanjeev Mohan, Principal, SanjMo. “With a modern data platform fine-tuned for the performance and scale AI requires, VAST Data is well-positioned to capture a massive opportunity.”

Additional Resources:

About VAST Data:
VAST Data is the data platform company built for the AI era. As the new standard for enterprise AI infrastructure, organizations trust the VAST Data Platform to serve their most data-intensive computing needs. VAST Data empowers enterprises to unlock the full potential of their data by providing AI infrastructure that is simple, scalable, and architected from the ground up to power deep learning and GPU-accelerated data centers and clouds. Launched in 2019, VAST Data is the fastest growing data infrastructure company in history. For more information, please visit https://vastdata.com and follow VAST Data on X (formerly Twitter) and LinkedIn.

Media Contact:

Austin Weedfall
VAST Data
press@vastdata.com

GlobeNewswire Distribution ID 8990742

International science organizations sign agreement to provide hardware for the Deep Underground Neutrino Experiment

Ten international funding agencies will contribute to the construction of the gigantic particle detectors a mile underground for the Fermilab-hosted Deep Underground Neutrino Experiment.

Batavia, Illinois, Dec. 06, 2023 (GLOBE NEWSWIRE) — The Deep Underground Neutrino Experiment — also known as DUNE — is an international mega science experiment that will use enormous particle detectors to study the behavior of neutrinos, which might indicate why we live in a matter-dominated universe.

The DUNE collaboration, representing scientists from dozens of countries around the world, will contribute to the construction of detectors at two sites in the United States: one at the U.S. Department of Energy’s Fermi National Accelerator Laboratory, the host lab for DUNE, 40 miles west of Chicago, and the other at the Sanford Underground Research Laboratory (SURF) in Lead, South Dakota.

On Nov. 17, representatives of funding agencies from five countries signed a memorandum of understanding, affirming their commitment to contribute to the construction of components for DUNE. Director Lia Merminga signed on behalf of Fermilab.

“DUNE will help answer some of the biggest questions in the universe and has the potential to transform the field of neutrino physics. We are proud to host DUNE in the U.S. with major contributions from the project’s international partners who offer their unique expertise,” said Regina Rameika, DOE associate director for the Office of High Energy Physics. “Having the commitment from our international partners to contribute these vital components is an essential aspect of DUNE.”

With their signatures, University of Campinas (Unicamp), Brazil, Institut National de Physique Nucléaire et de Physique des Particules (IN2P3), France, Istituto Nazionale Di Fisica Nucleare (INFN), Italy, University of Bern, Switzerland, and the Science and Technology Facilities Council/United Kingdom Research and Innovation (STFC/UKRI), United Kingdom, committed to contributing hardware to the two DUNE Far Detectors in South Dakota.

The Canadian Foundation for Innovation John R. Evans Leaders Fund and the Ontario Research Fund in Canada in addition to CERN in Switzerland also signed the memorandum of understanding remotely and will contribute to the DUNE Near Detector in Batavia, Illinois.

Signatures from agencies in the Czech Republic and Spain have been coordinated and will be finalized in the future.

In the memorandum of understanding for Far Detector 1, the United Kingdom and CERN agreed to contribute to anode plane assemblies; Brazil, the Czech Republic, Italy and Spain will contribute to the photon detection system; CERN will contribute to the high-voltage system; Canada, CERN and the U.K. will contribute to the data acquisition system; and Spain will contribute to the calibration and cryogenics instrumentation.

In the memorandum of understanding for Far Detector 2, CERN and France agreed to contribute to top drift electronics; Brazil, the Czech Republic, France, Italy and Spain will contribute to the photon detection system; France and CERN will contribute to the high-voltage system; Canada, CERN and the U.K. will contribute to the data acquisition system; Spain will contribute to the calibration and cryogenics instrumentation; and CERN and France will contribute to the charge readout planes.

Scientists and engineers from more than 35 countries are partnering with Fermilab to design, build and analyze data from DUNE, which will be installed in the new Long-Baseline Neutrino Facility. Construction of LBNF has begun, and the excavation of the large caverns in Lead, South Dakota for the DUNE Far Detectors is more than 85% complete.

The DUNE collaboration comprises more than 1,400 scientists and engineers from over 200 research institutions. Notably, CERN’s commitment to LBNF and DUNE represents its first investment in infrastructure for a physics experiment outside of Europe. Several countries — France, India, Italy, Poland and the United Kingdom — also are making significant contributions to the Proton Improvement Plan II project, which includes the construction of the 215-meter-long superconducting particle accelerator at Fermilab that will power DUNE.

DUNE will be the world’s most comprehensive experiment to study neutrinos: tiny, lightweight particles that permeate the universe but rarely interact with anything. DUNE will seek to determine whether neutrinos could be the reason the universe is made of matter; look for neutrinos emitted from exploding stars to learn more about the formation of neutron stars and black holes; and watch for a rare subatomic phenomenon that could elucidate the unification of nature’s forces.

To pursue these science goals, DUNE will study neutrino oscillation, a phenomenon in which a neutrino’s property, called flavor, changes as it travels. DUNE will probe this oscillation by shooting a beam of neutrinos 1,300 kilometers straight through the earth, from Fermilab’s accelerator complex in Illinois, through the Near Detector to the Far Detectors located a mile underground at SURF in South Dakota.

The science of DUNE is a global endeavor, and the partnership with funding agencies, scientists and engineers from around the world makes it the first truly international mega science experiment to be hosted on U.S. soil. Additionally, hundreds of students from all corners of the earth will start their careers in science, engineering and computing on this project.

Fermi National Accelerator Laboratory is supported by the Office of Science of the U.S. Department of Energy. The Office of Science is the single largest supporter of basic research in the physical sciences in the United States and is working to address some of the most pressing challenges of our time. For more information, please visit science.energy.gov.

Attachment

Tracy Marc
Fermilab
2242907803
TRACYM@FNAL.GOV

GlobeNewswire Distribution ID 8990708

International science organizations sign agreement to provide hardware for the Deep Underground Neutrino Experiment

Ten international funding agencies will contribute to the construction of the gigantic particle detectors a mile underground for the Fermilab-hosted Deep Underground Neutrino Experiment.

Batavia, Illinois, Dec. 06, 2023 (GLOBE NEWSWIRE) — The Deep Underground Neutrino Experiment — also known as DUNE — is an international mega science experiment that will use enormous particle detectors to study the behavior of neutrinos, which might indicate why we live in a matter-dominated universe.

The DUNE collaboration, representing scientists from dozens of countries around the world, will contribute to the construction of detectors at two sites in the United States: one at the U.S. Department of Energy’s Fermi National Accelerator Laboratory, the host lab for DUNE, 40 miles west of Chicago, and the other at the Sanford Underground Research Laboratory (SURF) in Lead, South Dakota.

On Nov. 17, representatives of funding agencies from five countries signed a memorandum of understanding, affirming their commitment to contribute to the construction of components for DUNE. Director Lia Merminga signed on behalf of Fermilab.

“DUNE will help answer some of the biggest questions in the universe and has the potential to transform the field of neutrino physics. We are proud to host DUNE in the U.S. with major contributions from the project’s international partners who offer their unique expertise,” said Regina Rameika, DOE associate director for the Office of High Energy Physics. “Having the commitment from our international partners to contribute these vital components is an essential aspect of DUNE.”

With their signatures, University of Campinas (Unicamp), Brazil, Institut National de Physique Nucléaire et de Physique des Particules (IN2P3), France, Istituto Nazionale Di Fisica Nucleare (INFN), Italy, University of Bern, Switzerland, and the Science and Technology Facilities Council/United Kingdom Research and Innovation (STFC/UKRI), United Kingdom, committed to contributing hardware to the two DUNE Far Detectors in South Dakota.

The Canadian Foundation for Innovation John R. Evans Leaders Fund and the Ontario Research Fund in Canada in addition to CERN in Switzerland also signed the memorandum of understanding remotely and will contribute to the DUNE Near Detector in Batavia, Illinois.

Signatures from agencies in the Czech Republic and Spain have been coordinated and will be finalized in the future.

In the memorandum of understanding for Far Detector 1, the United Kingdom and CERN agreed to contribute to anode plane assemblies; Brazil, the Czech Republic, Italy and Spain will contribute to the photon detection system; CERN will contribute to the high-voltage system; Canada, CERN and the U.K. will contribute to the data acquisition system; and Spain will contribute to the calibration and cryogenics instrumentation.

In the memorandum of understanding for Far Detector 2, CERN and France agreed to contribute to top drift electronics; Brazil, the Czech Republic, France, Italy and Spain will contribute to the photon detection system; France and CERN will contribute to the high-voltage system; Canada, CERN and the U.K. will contribute to the data acquisition system; Spain will contribute to the calibration and cryogenics instrumentation; and CERN and France will contribute to the charge readout planes.

Scientists and engineers from more than 35 countries are partnering with Fermilab to design, build and analyze data from DUNE, which will be installed in the new Long-Baseline Neutrino Facility. Construction of LBNF has begun, and the excavation of the large caverns in Lead, South Dakota for the DUNE Far Detectors is more than 85% complete.

The DUNE collaboration comprises more than 1,400 scientists and engineers from over 200 research institutions. Notably, CERN’s commitment to LBNF and DUNE represents its first investment in infrastructure for a physics experiment outside of Europe. Several countries — France, India, Italy, Poland and the United Kingdom — also are making significant contributions to the Proton Improvement Plan II project, which includes the construction of the 215-meter-long superconducting particle accelerator at Fermilab that will power DUNE.

DUNE will be the world’s most comprehensive experiment to study neutrinos: tiny, lightweight particles that permeate the universe but rarely interact with anything. DUNE will seek to determine whether neutrinos could be the reason the universe is made of matter; look for neutrinos emitted from exploding stars to learn more about the formation of neutron stars and black holes; and watch for a rare subatomic phenomenon that could elucidate the unification of nature’s forces.

To pursue these science goals, DUNE will study neutrino oscillation, a phenomenon in which a neutrino’s property, called flavor, changes as it travels. DUNE will probe this oscillation by shooting a beam of neutrinos 1,300 kilometers straight through the earth, from Fermilab’s accelerator complex in Illinois, through the Near Detector to the Far Detectors located a mile underground at SURF in South Dakota.

The science of DUNE is a global endeavor, and the partnership with funding agencies, scientists and engineers from around the world makes it the first truly international mega science experiment to be hosted on U.S. soil. Additionally, hundreds of students from all corners of the earth will start their careers in science, engineering and computing on this project.

Fermi National Accelerator Laboratory is supported by the Office of Science of the U.S. Department of Energy. The Office of Science is the single largest supporter of basic research in the physical sciences in the United States and is working to address some of the most pressing challenges of our time. For more information, please visit science.energy.gov.

Attachment

Tracy Marc
Fermilab
2242907803
TRACYM@FNAL.GOV

GlobeNewswire Distribution ID 8990708

Zoom delivers AI-powered customer experiences at an unmatched value for companies of every size

New innovative product offerings include robust omnichannel and advanced AI solutions

SAN JOSE, Calif., Dec. 06, 2023 (GLOBE NEWSWIRE) — Today Zoom Video Communications, Inc. (NASDAQ: ZM) announced enhancements across its AI-powered customer experience (CX) suite and new pricing plans that are expected to be available in the coming weeks.

“Zoom Contact Center has seen incredible momentum since its launch last year, reaching more than 700 customers and expanding to businesses of all sizes, from mid-market companies to global enterprises,” said Vi Chau, head of product, Zoom Phone and Contact Center at Zoom. “We have strategically invested in areas like advanced AI, workforce management, and omnichannel expansion to help build meaningful customer experiences. These new plans provide exceptional value at all levels, including enterprise-grade features at the base tier that other companies charge extra for.”

To support its growing customer base and its various business needs, Zoom Contact Center will be available in new tiered plans that each include voice, video, chat, and Short Message Service (SMS) channels, real-time transcription, remote control, Agent Computer-Telephony Integration (CTI), surveys, and AI Companion capabilities including summarization.

Additional features, including inbound email and social channel support, and outbound dialers are supported in mid-tier plans. Zoom AI Expert Assist and Workforce Engagement Management will be included in top-tier plans, and available as an add-on to any package. These new plans offer exceptional customer value and flexibility to meet the needs of small-to-large contact center departments.

New packages provide flexibility and value

Zoom’s new packages provide enterprise-grade feature sets designed to serve the needs of its customers, no matter their size. All product offerings are available to mix and match as named or concurrent licenses.

Essentials

  • The Essentials package starts at just $69 per month and includes Zoom AI Companion, remote control, privacy and security features, and support for the most critical channels: omnichannel voice, chat, SMS, and video, as well as many other core capabilities.

Premium

  • In addition to the features offered in the Essentials package, the Premium package provides support for email, social channels, and outbound dialer, starting at $99 per month.

Elite

  • Elite customers have access to all the features from the Premium package, plus Zoom AI Expert Assist, Quality Management, and Workforce Management, starting at $149 per month.

Additionally, customers with Essentials and Premium packages have the option to purchase features such as Zoom AI Expert Assist and Workforce Engagement Management as add-ons to their package.

Enhanced features expand solution use cases

Zoom’s newest innovations in customer experience focus on helping businesses engage and collaborate better with customers, employees, and more.

  • Zoom AI Expert Assist enables AI-powered personalized support for customers, improved productivity for agents, and better intelligence for supervisors. AI Expert Assist intelligently retrieves and suggests the best responses from a curated set of knowledge bases, customer relationship management (CRM) systems, and other systems of record. Additional functionality expected in early 2024 includes recommended next best action, complete with personalized steps, and an intelligent view of agents and activity for supervisors and contact center leaders.
  • Expanded communication channels, including email and Meta’s Messenger, allow agents to interact with customers where they prefer to communicate. The ability to chat in WhatsApp is expected in early 2024.
  • Remote control allows IT departments to help employees and customers solve problems more quickly with the ability for customers to grant help desk agents permission to control their desktops remotely.
  • Outbound dialing empowers sales-oriented agents to enhance customer interaction quality before placing calls and automatically dial numbers on a contact list as soon as an agent becomes available through Zoom’s progressive dialer capabilities. Outbound progressive dialing is currently available in beta and is expected to be generally available in the coming weeks. Outbound preview dialing is expected in early 2024.
  • Additional privacy and security with built-in post-redaction of certain personal data in voice and video recordings, as well as voice, video, and messaging transcripts. In addition, bring your own encryption keys to protect certain data stored at rest within the Zoom Cloud infrastructure is coming in 2024.
  • Third-party application integrations enhance the agent experience and reduce the need to toggle between programs, providing real-time access to customer information, including CRM, support, and payments from within the Zoom client expected to be generally available in early 2024.

These new plans will be available in the coming weeks.

About Zoom
Zoom is an all-in-one intelligent collaboration platform that makes connecting easier, more immersive, and more dynamic for businesses and individuals. Zoom technology puts people at the center, enabling meaningful connections, facilitating modern collaboration, and driving human innovation through solutions like team chat, phone, meetings, omnichannel cloud contact center, smart recordings, whiteboard, and more, in one offering. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more info at zoom.com.

Zoom Public Relations
Lacretia Nichols
press@zoom.us

GlobeNewswire Distribution ID 8990604

Zoom delivers AI-powered customer experiences at an unmatched value for companies of every size

New innovative product offerings include robust omnichannel and advanced AI solutions

SAN JOSE, Calif., Dec. 06, 2023 (GLOBE NEWSWIRE) — Today Zoom Video Communications, Inc. (NASDAQ: ZM) announced enhancements across its AI-powered customer experience (CX) suite and new pricing plans that are expected to be available in the coming weeks.

“Zoom Contact Center has seen incredible momentum since its launch last year, reaching more than 700 customers and expanding to businesses of all sizes, from mid-market companies to global enterprises,” said Vi Chau, head of product, Zoom Phone and Contact Center at Zoom. “We have strategically invested in areas like advanced AI, workforce management, and omnichannel expansion to help build meaningful customer experiences. These new plans provide exceptional value at all levels, including enterprise-grade features at the base tier that other companies charge extra for.”

To support its growing customer base and its various business needs, Zoom Contact Center will be available in new tiered plans that each include voice, video, chat, and Short Message Service (SMS) channels, real-time transcription, remote control, Agent Computer-Telephony Integration (CTI), surveys, and AI Companion capabilities including summarization.

Additional features, including inbound email and social channel support, and outbound dialers are supported in mid-tier plans. Zoom AI Expert Assist and Workforce Engagement Management will be included in top-tier plans, and available as an add-on to any package. These new plans offer exceptional customer value and flexibility to meet the needs of small-to-large contact center departments.

New packages provide flexibility and value

Zoom’s new packages provide enterprise-grade feature sets designed to serve the needs of its customers, no matter their size. All product offerings are available to mix and match as named or concurrent licenses.

Essentials

  • The Essentials package starts at just $69 per month and includes Zoom AI Companion, remote control, privacy and security features, and support for the most critical channels: omnichannel voice, chat, SMS, and video, as well as many other core capabilities.

Premium

  • In addition to the features offered in the Essentials package, the Premium package provides support for email, social channels, and outbound dialer, starting at $99 per month.

Elite

  • Elite customers have access to all the features from the Premium package, plus Zoom AI Expert Assist, Quality Management, and Workforce Management, starting at $149 per month.

Additionally, customers with Essentials and Premium packages have the option to purchase features such as Zoom AI Expert Assist and Workforce Engagement Management as add-ons to their package.

Enhanced features expand solution use cases

Zoom’s newest innovations in customer experience focus on helping businesses engage and collaborate better with customers, employees, and more.

  • Zoom AI Expert Assist enables AI-powered personalized support for customers, improved productivity for agents, and better intelligence for supervisors. AI Expert Assist intelligently retrieves and suggests the best responses from a curated set of knowledge bases, customer relationship management (CRM) systems, and other systems of record. Additional functionality expected in early 2024 includes recommended next best action, complete with personalized steps, and an intelligent view of agents and activity for supervisors and contact center leaders.
  • Expanded communication channels, including email and Meta’s Messenger, allow agents to interact with customers where they prefer to communicate. The ability to chat in WhatsApp is expected in early 2024.
  • Remote control allows IT departments to help employees and customers solve problems more quickly with the ability for customers to grant help desk agents permission to control their desktops remotely.
  • Outbound dialing empowers sales-oriented agents to enhance customer interaction quality before placing calls and automatically dial numbers on a contact list as soon as an agent becomes available through Zoom’s progressive dialer capabilities. Outbound progressive dialing is currently available in beta and is expected to be generally available in the coming weeks. Outbound preview dialing is expected in early 2024.
  • Additional privacy and security with built-in post-redaction of certain personal data in voice and video recordings, as well as voice, video, and messaging transcripts. In addition, bring your own encryption keys to protect certain data stored at rest within the Zoom Cloud infrastructure is coming in 2024.
  • Third-party application integrations enhance the agent experience and reduce the need to toggle between programs, providing real-time access to customer information, including CRM, support, and payments from within the Zoom client expected to be generally available in early 2024.

These new plans will be available in the coming weeks.

About Zoom
Zoom is an all-in-one intelligent collaboration platform that makes connecting easier, more immersive, and more dynamic for businesses and individuals. Zoom technology puts people at the center, enabling meaningful connections, facilitating modern collaboration, and driving human innovation through solutions like team chat, phone, meetings, omnichannel cloud contact center, smart recordings, whiteboard, and more, in one offering. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more info at zoom.com.

Zoom Public Relations
Lacretia Nichols
press@zoom.us

GlobeNewswire Distribution ID 8990604

International Directional Services and Veracio Announce Strategic Partnership to Advance Drilling and Downhole Technologies in North America

WATSONVILLE, Calif. and SALT LAKE CITY, Dec. 06, 2023 (GLOBE NEWSWIRE) — International Directional Services (IDS), a Granite Company (NYSE:GVA) and Veracio, a leading mining technology company, today announce a partnership to offer Veracio’s complete suite of driller-operated tooling to IDS’ clients.

Veracio is making significant steps toward leveraging advanced geological technologies to enhance the mining lifecycle. While IDS and Veracio have an existing relationship, the announcement of this partnership acknowledges the vision both companies share for transforming how the drilling workflow can be enhanced with better data. By combining IDS’s expertise in directional drilling and Veracio’s geological data collection, the partnership will empower IDS and Granite clients to reduce unnecessary drilling costs, mitigate operational errors, minimize waste, and foster sustainable mining practices.

“Our collaboration further strengthens Veracio’s position in the US market and reinforces our commitment to advancing the mining industry by offering cutting-edge solutions,” states Veracio’s Chief Executive Officer, JT Clark. “Together with IDS, we are committed to redefining industry standards, empowering precision and integrity with every survey, and delivering unparalleled solutions for the mining industry.”

“We are excited to embark on this strategic partnership with Veracio. By combining our data collection expertise with Veracio’s cutting-edge instrument technology, we aim to redefine how drill hole data is utilized in our industry,” said Jason Smith, IDS General Manager. “This collaboration represents a significant step forward for IDS and our commitment to delivering excellence to our clients.”

Key Objectives of the Partnership:

  • Enhanced Drill Hole Data Analysis: Deploy cutting-edge technology to enhance the accuracy and quality of drill hole data analysis, providing valuable insights for mining projects.
  • Increased Productivity: Leveraging Veracio’s growing fleet of technologies, including TruGyro, and TruSub technology ensures that drilling is precise and efficient leading to better resource definition, safety and lower risks of operational errors, at lower cost.
  • Client Support and Satisfaction: The partnership aims to elevate the level of support and satisfaction for IDS’s clients by delivering data-driven insights and innovative solutions.

The announcement is headlined by the most compact and integrated continuous north-seeking gyro tool in drilling, Veracio’s TruGyro, a north-seeking gyro tool built to deliver precision data at depth in some of the toughest of environments. IDS also currently serves as the distributor for Veracio’s TruShot, a precise magnetic survey tool specially designed for driller deployment. Known for its durability, precision, and user-friendly features, TruShot enables drillers to confidently capture high-quality 3D hole path data. In addition to TruShot, IDS also distributes core orientation tooling on behalf of Veracio. As Veracio introduces new products to the market, IDS aims to expand its customer offerings to provide a comprehensive range of cutting-edge solutions.

Photos accompanying this announcement are available at – https://drive.google.com/drive/folders/1AZcrwz8G6Ii4AveB6WDOrHozAgvx7-QY?usp=drive_link

About Veracio
Veracio offers mining clients a range of solutions that improve, automate, and digitally transform their orebody sciences in exploration, resource definition and production. Championing a modern approach through a diverse product portfolio Veracio fuses science and technology together with digital accessibility by using advanced scanning, sensing with strong data governance and the deployment of AI to accelerate real-time decision making and significantly improve efficiency, profitability, and sustainability across the value chain. For more information about Veracio, please visit www.veracio.com.

About Granite
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE: GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.

Media Contacts

Veracio
Kamran Shaikh
PRA Communications
kshaikh@pracommunications.com
Cell: +1-778-846-5406
IDS/Granite
Erin Kuhlman – 831-768-4111
Investors
Wenjun Xu – 831-761-7861

GlobeNewswire Distribution ID 8990350