Pinecone Systems, a San Mateo, CA-based serverless vector database startup, announced the closing of a $28 million Series A round.
The round was led by Menlo Ventures, with the participation of new investor Tiger Global and previous backers such as Wing Venture Capital.
Pinecone will use the new funding to expand its product, customer success, and research and development teams and invest in core research in machine learning, information retrieval, and natural language processing.
Company: Pinecone Systems, Inc.
Raised: $28.0M
Round: Series A
Funding Month: March 2022
Lead Investors: Menlo Ventures
Additional Investors: Tiger Global and Wing Venture Capital
Company Website: https://www.pinecone.io/
Software Category: Vector Database
About the Company: Founded in 2018, Pinecone is a fully managed vector database that allows you to easily integrate vector search into your production applications. Pinecone has developed a vector database that enables the next generation of artificial intelligence (AI) applications in the cloud. It combines state-of-the-art vector search libraries, advanced features such as filtering, and a distributed infrastructure to deliver high performance and reliability at any scale. Pinecone's database was inspired by internal systems used by companies such as Amazon.com Inc. and Meta Platforms Inc. for vector-based search. The company believes its platform is ideally suited to support search across multiple applications. The company has offices in New York and Tel Aviv, as well as some working remotely.
Source: https://siliconangle.com/2022/03/29/pinecone-raises-28m-revolutionize-unstructured-data-search-ai/