Skyflow began as an API storing personally identifying information (PII) for customers, but AI has expanded the type of data it might contain. The company is raising more capital to grow even faster, following a $45 million Series B in 2021. The firm has also expanded its support of China and its specific data rules. Skyflow's growth reflects several trends, including startups seeking more modest capital follow-on rounds, the growth of AI creating businesses for LLM infrastructure and support companies, and the continued success of companies offering tools via an API.
Key takeaways:
- Skyflow has raised a $30 million Series B extension led by Khosla Ventures, following its expansion into AI technologies and data privacy.
- The company's AI-related software offerings have become a significant part of its business, with revenues from large language model-related usage growing from 0% to around 30%.
- Skyflow began as an API storing personally identifying information (PII) for customers, but AI has broadened the type of data it can contain, highlighting the importance of data privacy and security in corporate LLM usage.
- The company more than doubled in size last year, expanding its revenues by 110%, and is now in the double-digit million revenue realm.