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

Apr 04, 2024 - techcrunch.com
NoSQL database Aerospike has raised $100 million in a Series E funding round led by Sumeru Equity Partners, with participation from existing investor Alsop Louie Partners. The company, which started as a key-value store in 2009, now offers a NoSQL database optimized for real-time use cases at scale. In 2022, Aerospike added document support, graph, and vector capabilities, essential for building real-time AI and ML applications. The company's hybrid memory architecture allows it to augment the use of RAM to speed up data access with fast flash storage.

The new funding will be used to accelerate Aerospike's innovations around AI, particularly its graph and vector capabilities. The company is looking at combining these two capabilities to improve search and data relationship functions. Despite raising its last round in 2019, Aerospike decided to raise additional funds to capitalize on the growing interest in AI and its potential for growth and innovation. The company's customers include Airtel, Transunion, Snap, and TechCrunch parent company Yahoo.

Key takeaways:

  • NoSQL database Aerospike has raised a $100 million Series E round led by Sumeru Equity Partners, with participation from existing investor Alsop Louie Partners.
  • Aerospike has diversified its offerings since its inception in 2009, with its core offering now being a NoSQL database optimized for real-time use cases at scale.
  • In 2022, Aerospike added document support and then followed that up with graph and vector capabilities, crucial for building real-time AI and ML applications.
  • The company plans to use the new funding to accelerate its innovations around AI, specifically looking at combining graph and vector capabilities.
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