Pinecone Systems, a San Mateo, CA-based search infrastructure company, raised $28M in Series A funding.
The round was led by Menlo Ventures, with participation from Tiger Global, and Wing Venture Capital. As part of the announcement, Tim Tully, Partner at Menlo Ventures and former CTO of Splunk, will join the board of directors.
The company intends to use the funds to grow out its product, customer success, and R&D teams, and invest in core research on machine learning (ML), information retrieval (IR), and natural language processing (NLP).
Led by CEO Edo Liberty, Pinecone has built a vector database to enable the next generation of artificial intelligence (AI) applications in the cloud. Vector Search is focused on storing and searching through AI-generated representations of content. These AI-generated representations encapsulate the meaning of the original content in a machine-readable format, and enable developers to build search applications. With its vector database product, Pinecone provides the search infrastructure for engineering teams to implement AI-powered search into their applications without the need to build their own or modify legacy infrastructure.
The database already has thousands of users, with customers across a wide spectrum of industries including enterprise software, social media platforms, search engines, ecommerce, and AI/ML products. It is being used by companies ranging from small startups to enterprises, handling data ranging anywhere from hundreds of thousands to billions of items.
The company has offices in New York and Tel Aviv, as well as some working remotely.
FinSMEs
29/03/2022