Aerospike Inc, the software company which sells highly scalable, real-time NoSQL database management system, announced on April 5 that it has secured $109 million growth capital investment from Sumeru Equity Partners, with additional support from existing investor Alsop Louie Partners.
The investment will fuel innovation and enhance Aerospike's go-to-market capabilities for its core transaction, analytics, and AI solutions, Aerospike stated. With the global data analytics and artificial intelligence (AI) software market projected to reach $251 billion by 2023 according to IDC Research, Aerospike aims to meet the escalating demands for data processing.
The software firm, known for its advanced NoSQL database tailored for high-performance transactional and analytical operations, said the injection of funds signals confidence in Aerospike's product offerings and business.
Aerospike CEO Subbu Iyer emphasizes the database's scalability and performance, stating it's tailor-made for the surge in real-time data. He highlights the increasing demand for data in the AI era and Aerospike's unique vector solution that offers accuracy at scale with minimal infrastructure. Iyer expresses excitement about partnering with Sumeru for future growth and innovation in their products.
"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. Quite simply, we were made for this challenge,” said Subbu Iyer. “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. We are elated to partner with Sumeru on our next phase of growth as we seek to drive ongoing innovation and investment in our products,” Iyer added.
Sumeru Equity Partners, known for its investments in enterprise software companies, views Aerospike as pivotal in the era of AI-driven applications. George Kadifa, Co-Founder and Managing Director of Sumeru, highlighted Aerospike's product leadership and its role in critical AI/ML applications such as fraud detection and customer recommendation engines.
"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,” said Kadifa. “We were impressed by Aerospike’s product leadership and its growing installed base of AI/ML applications operating across fraud detection, customer recommendation engines, digital payments infrastructure, and other mission-critical use cases where precision and low latency matter. Our team looks forward to
partnering with Subbu and the company as it expands its product suite and go-to-market capabilities in the next phase of its scaling journey,” Kadifa added.
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