Aerospike, Inc. has announced the close of a $109 Million growth capital investment from Sumeru Equity Partners, with additional investment from existing investor Alsop Louie Partners.
The investment will help accelerate innovation and go-to-market capabilities for Aerospike’s core transaction, analytics, and AI solutions, including vector and graph databases, to meet the skyrocketing data demands of a global data analytics and artificial intelligence (AI) software market projected to reach $251 billion by 2027 by IDC Research.
Aerospike powers many of the transactional and machine learning (AI/ML) applications at global enterprises, including Adobe, AppsFlyer, Barclays, Flipkart, Myntra, PayPal, and Riskified. The company enables organisations to feed AI and ML systems high volumes of real-time data faster and at a significantly lower cost than 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 Subbu Iyer, CEO of Aerospike.
Sumeru provides growth capital, scaling partnerships, and operating expertise to enterprise software companies. The firm has invested over $3 billion across its history and partners with founders and management teams to scale their businesses by prioritizing organic growth levers in product leadership, go-to-market acceleration, and growth culture.
“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 George Kadifa, Sumeru Co-Founder and Managing Director. Kadifa will also join Aerospike’s board as part of the transaction.
