Rockset, the search and analytics company, is announcing its recent funding milestone—raising $44 million for a total capital of $105 million—which will be used to expand the company’s efforts in supporting the build of AI, search, and analytics applications.
Led by Icon Ventures, with participation from new investors Glynn Capital, Four Rivers, K5 Global, and existing investors Sequoia and Greylock, Rockset’s funding represents a larger interest in the company’s goals.
In the past two years, Rockset has tripled its revenue and doubled its customer base, rivaling other search solutions such as Elasticsearch, according to the company.
By ingesting streaming data and leveraging a Converged Index storage format, Rockset can deliver low latency search, filtering, aggregations, and joins, simply by using SQL, according to the company. Rockset has also expanded into vector search, signaling its efforts to support generative AI and other semantic search applications by enabling developers to index and update metadata and vector embeddings in real-time.
“We are on a mission to make it easy for customers to build fast search and AI applications at scale. With compute-compute separation, we’ve redefined the data cloud architecture for speed, efficiency, and simplicity, and that, combined with advancements in AI, is creating a new wave of applications that turn data into action,” said Venkat Venkataramani, co-founder and CEO of Rockset. “This funding round will allow us to innovate in real-time AI and invest in more go-to-market initiatives that accelerate adoption.”
Rockset can support enterprises building various search and AI applications, including:
- Recommendation engines
- Chatbots
- Risk analytics
- Logistics tracking
- Real-time search and reporting
“Enterprises are doubling down on their initiatives to bring new AI applications to production,” said Preeti Rathi, general partner at Icon Ventures. “Rockset’s integration of vector search into its search and analytics experiences enables enterprises to drive efficient AI-driven search experiences and power real-time decision-making faster with an all-in-one indexing solution.”
To learn more about Rockset’s latest initiatives, please visit https://rockset.com/.