Aerospike Raises $109M For Accelerated Database Development, Market Expansion

Aerospike, which markets its next-generation NoSQL database for high performance transactional and analytical tasks, is a player in the fast-growing generative AI application development space with its vector search database technology.

Aerospike has raised $109 million in growth capital, new funding that the company said Thursday validates the strength of its transaction, analytics and AI database technologies and the company’s business performance.

Aerospike said the funding infusion would be used to accelerate the company’s product development work and expand its go-to-market capabilities.

The investment was led by Sumeru Equity Partners with additional funding from existing investor Alsop Louie Partners.

Aerospike, headquartered in Mountain View, Calif., did not disclose the company’s current valuation. The company raised $32 million in Series D funding in November 2019.

Aerospike’s core product is a NoSQL database designed for real-time and mission-critical applications including transactional, analytical and AI/machine learning tasks. More recently the company has expanded its product lineup with vector search capabilities, a critical function for developing generative AI applications, and a scalable graph database for managing real-time data relationships.

“The Aerospike database is purpose-built for unprecedented scale, the highest performance, and the lowest latency, which is why the explosion of real-time data has fueled our business momentum,” Aerospike CEO Subbu Iyer said in a statement.

“AI is disrupting every industry and is fueling an insatiable demand for data. The promise of the AI era requires new infrastructure that can harness more data in real time. As AI applications demand context, we offer the only production-level vector solution that delivers consistent accuracy at scale on significantly less infrastructure than anyone else,” Iyer said.

George Kadifa, Sumeru co-founder and managing director, will join Aerospike’s board of directors as part of the funding deal.

“AI is transforming the economy and presents new opportunities for growth and innovation. 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,” Kadifa said.