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Pinecone announces $28M Series A for purpose-built database aimed at data scientists – TechCrunch


When Pine fruit launched last year, the company’s message revolved around building a serverless vector database specifically designed for the needs of data scientists. While that database is at the core of what the company is doing, it is working towards a more refined use case for that database around AI-based search, helping scientists That data finds a guide in the haystack.

As we spoke with Pinecone founder and CEO Edo Liberty last year at the time $10 million seed round, his company is just getting in his way, building databases. He’s from Amazon, where he helped build the SageMaker database service. He said they have come a long way since then.

“A lot has changed since our seed announcement, so we first launched a paid production service in October and since then the service has grown rapidly. both in terms of adoption and revenue, and so things are going very well,” Liberty said.

He described the rationale for a purpose-built database for data scientists at the time. seed sponsorship this way:

“The data the machine learning model expects is not a JSON record, it is a dimensional vector or a list of features or something called an embedding, a numerical representation of items or objects in the world. gender. This [format] very semantically rich and actionable for machine learning,” he explains.

He says that today that semantically rich approach is driving customers to use Pinecone. “The primary use of vector databases is for searching and searching in the broad sense of the word. It’s searching through documents, but you can think of search as general information retrieval, discovery, recommendation, anomaly detection, etc,” he said.

The system is organized into groups, which are collections of resources designed to process data in the Pinecone database. The company offers a free unique team to help customers get comfortable with the product and perform a simple proof-of-concept. Then they start paying based on the number of shells.

He is confident that the company has structured the system in such a way that it can scale to billions of objects. “You can scale to the point where your software can really handle it and you can really deliver. We designed the system so that there really aren’t any well-defined limits on how much data you can index and use,” he said.

As a serverless database, customers don’t have to worry about provisioning, but they do have to let Pinecone know how much they’re willing to spend each month, based on the amount of data they need to process.

“They usually do the back of the envelope figuring out that the x pod is going to be a lot for what we’re using in terms of the data it can hold and the performance it will give me and that’s it. ” Then he or she simply signs up and with a few clicks in the console and an API call to create the index it’s up and running and ready to go.

Liberty doesn’t want to share growth numbers or headcount, but he said he hopes to double headcount (whatever that means) in the next year. It is worth noting that the startup had 10 employees at the time of seed announcement.

In terms of diversity he said last year“We have instructed our employers to be proactive [in finding more diverse applicants], making sure they don’t miss out on great candidates and that they bring us a diverse pool of candidates. In fact, he says that 50% of new technical hires (as opposed to total employees) are female this year.

The company announced a $28 million Series A today led by Menlo Ventures with participation from new investor Tiger Global along with previous investors including Wing Venture Capital, who led seed capital of the company. The company has now raised $38 million.



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