Aerospike, Inc. has marked a significant milestone in its expansion by securing a $109 million capital investment from Sumeru Equity Partners, with additional backing from existing investor Alsop Louie Partners. This investment highlights the robustness of the company’s low-latency NoSQL database platform and sets the stage for the development of its go-to-market strategy.
This latest traunch of funding by the two investors aims to drive the company’s growth objectives, particularly for its core transaction, analytics, and artificial intelligence (AI) solutions. The investment will help Aerospike position itself to meet the growing demand for advanced software capable of scaling data-intensive applications.
Aerospike’s software powers the AI and ML needs of major brands
Aerospike is the engine behind the AI and machine learning (ML) infrastructure used by Adobe, AppsFlyer, Barclays, Flipkart, Myntra, PayPal, Riskified, Wayfair, and other well-known brands. The partnership with Sumeru, known for providing growth capital and operational expertise to software companies, further solidifies the company’s position as a promising player in real-time AI and ML applications.
Basis for Sumeru’s investment
Reflecting on the transformative potential of Aerospike’s role in driving innovation in the AI space, George Kadifa, Sumeru co-founder and managing director, said, “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.”
Kadifa, who will join the board as part of the transaction, also expressed his admiration for the company’s product innovation and its expanding influence across crucial AI/ML applications, stating, “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.”
The significance of database infrastructure optimization
Aerospike’s major strength lies in its capacity to operate on significantly reduced infrastructure compared to its counterparts, which can potentially slash server footprints and costs by up to 80%, according to the company. This efficiency is essential for organizations as they strive to expand their IT infrastructure while looking to reduce costs and carbon footprints.
The Series E financing by investors not only validates Aerospike’s product strength but also reaffirms its commitment to driving innovation. With its focus on meeting escalating data demands and optimizing infrastructure efficiency, Aerospike is poised to continue its ascent as a cutting-edge database solution provider for the AI-driven future.
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