Aerospike raises $100M for its real-time database platform to capitalize on the AI increase

NoSQL database Aerospike right now introduced that it has raised a $100 million Sequence E spherical led by Sumeru Fairness Companions. Present investor Alsop Louie Companions additionally participated on this spherical.

In 2009, the corporate began as a key-value store with a deal with the adtech trade; Aerospike has since diversified its choices fairly a bit. As we speak, its core providing is a NoSQL database that’s optimized for real-time use instances at scale.

In 2022, Aerospike added doc help after which adopted that up with graph and vector capabilities — two database options which are essential for constructing real-time AI and ML purposes.

“We were founded primarily as a real-time data platform that can work with data at really high scale, or, as we call it, unlimited scale,” Aerospike CEO Subbu Iyer stated. “We’ve been fortunate enough that a lot of our customers have either started their journey at scale with us, or started the journey earlier and grown into the platform. So our premise has held good that real-time data and real-time access to data is going to be important pretty much across every industry. Our founding principles were really to deliver real-time performance with data at any scale, and the lowest [total cost of ownership] on the market.”

Partially, Aerospike, which affords its service as a hosted platform and on-premises, is ready to ship on this promise by its hybrid reminiscence structure that permits it to reinforce using RAM to hurry up knowledge entry with quick flash storage — or any mixture of the 2. Aerospike competitor Redis just lately acquired Speedb to supply related capabilities — additionally with a watch on serving to its clients cut back prices.

Picture Credit: Aerospike

As we speak, the corporate’s clients embody the likes of Airtel, Transunion, Snap and TechCrunch mother or father firm Yahoo.

Proper now, although, it’s undoubtedly the AI increase that’s driving numerous curiosity in Aerospike and the corporate needs to be able to capitalize on that by this new funding spherical.

Unsurprisingly, which means the corporate plans to make use of the brand new funding to speed up its improvements round AI, that are principally centered on its graph and vector capabilities. Iyer advised me that Aerospike is particularly taking a look at combining these two capabilities.

“Going forward, there are some synergistic ways in which graph and work errors can come together,” he stated. “A simple use case I use for this, for example, is if you’re looking for a specific document and you have embeddings and stored them in a vector database, you want to use a vector search to get to that specific document. But if you’re looking for a set of similar documents, a vector search can get you to the neighborhood and then a graph can get you a similar corpus of documents because of relationships and stuff.”

That, after all, can also be what obtained traders within the firm. Aerospike raised its final spherical in 2019 and based on the corporate’s CEO, it didn’t want to boost now, however there’s a massive alternative for Aerospike to capitalize on now, one thing Sumeru co-founder and managing director George Kadifa additionally harassed.

“AI is transforming the economy and presents new opportunities for growth and innovation,” he stated. “Aerospike, with its impressive customer base and performance advantage at scale, is uniquely positioned to become a foundational element for the next generation of real-time AI applications.”