Aerospike, Inc. announced the completion of a $109 million growth capital financing round, led by Sumeru Equity Partners (“Sumeru”) with additional funds from existing investor Alsop Louie Partners. This investment serves as an endorsement of Aerospike’s product robustness and business achievements.

The funding is set to boost Aerospike’s innovation and market penetration efforts for its core offerings, which include transactions, analytics, and AI solutions such as vector and graph databases. This move comes in response to the rapidly increasing data needs of the global data analytics and artificial intelligence (AI) software market, which IDC Research forecasts will grow to $251 billion by 2027.

Aerospike’s technology is crucial for some of the world’s most extensive transactional and machine learning (AI/ML) applications used by leading global enterprises, including notable names like Adobe, AppsFlyer, Barclays, Flipkart, Myntra, PayPal, and Riskified. It enables these organizations to supply AI/ML systems with high volumes of real-time data more efficiently and cost-effectively than alternative database solutions.

Subbu Iyer, CEO of Aerospike, emphasized the company’s strategic position to tackle the burgeoning demand for real-time data, driven by the disruptive force of AI across industries. Aerospike’s database solution, designed for scale, high performance, and minimal latency, offers a unique vector solution that stands out for its accuracy at scale on less infrastructure compared to competitors. Iyer expressed enthusiasm for the partnership with Sumeru, aimed at propelling Aerospike into its next growth phase through continued product innovation and investment.

Sumeru Equity Partners is known for providing growth capital, scaling partnerships, and operational expertise to leading enterprise software companies. With over $3 billion invested to date, Sumeru collaborates with founders and management teams to accelerate business scaling through product leadership, go-to-market strategies, and fostering a growth culture.

George Kadifa, Sumeru Co-Founder and Managing Director, who will join Aerospike’s board, highlighted the transformative impact of AI on the economy and Aerospike’s pivotal role in powering the next generation of real-time AI applications. Impressed by Aerospike’s product leadership and expanding customer base in AI/ML applications across various critical operations, Kadifa looks forward to supporting Aerospike’s expansion and product development in the upcoming scaling phase.

By operating on significantly less infrastructure than competitors, Aerospike dramatically reduces server footprints and costs by up to 80%, aligning with the dual objectives of enhancing IT infrastructure and reducing carbon emissions.

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