Aerospike
Real-time NoSQL data solutions company Aerospike secures $109M from Sumeru Equity Partners
Aerospike, Inc. (“Aerospike”), a provider of real-time NoSQL data solutions, announced today the closing of a $109 million growth capital investment from Sumeru Equity Partners (“Sumeru”), with additional funding from Alsop Louie Partners, an existing investor.
Chief Executive Subbu Iyer disclosed the funding in a press release on Thursday.
Aerospike began as a key-value store in 2009, specialising in the ad tech sector. Since then, the company has expanded its product line significantly. Its main product is a NoSQL database designed for large-scale, real-time use cases.
Following the addition of document support in 2022, Aerospike added graph and vector capabilities, two database elements essential for developing AI and ML systems that operate in real-time.
With this investment, Aerospike will be able to better meet the rapidly increasing demands of the global data analytics and artificial intelligence (AI) software market, which IDC Research projects will reach $251 billion by 2027. Aerospike’s core transaction, analytics, and AI solutions, including vector and graph databases, will also go to market faster.
Many of the biggest machine learning (AI/ML) and transactional apps used by multinational corporations, such as Adobe, AppsFlyer, Barclays, Flipkart, Myntra, PayPal, and Riskified, are powered by Aerospike. Aerospike offers a substantially reduced cost per high volume of real-time data fed into AI/ML systems for organisations compared to other database providers.
“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 Iyer.
George Kadifa, Sumeru Co-Founder and Managing Director, who will also join the board as part of the transaction while expressing optimism on the development said:
“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.”
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