StarTree, Inc. announced $47 million in Series B funding to accelerate product development, expand sales and marketing, and continue to drive fast adoption of its real-time analytics platform. The funding round was led by Series A investor GGV Capital, with additional investment from new investor Sapphire Ventures and existing investors Bain Capital Ventures and CRV. StarTree has raised a total of $75 million to date.
StarTree was founded by the original creators of Apache Pinot™, the real-time distributed OLAP data store proven at scale by LinkedIn, Cisco, DoorDash, Etsy, Hyundai, Razorpay, 7-Eleven,Target, Uber, Walmart, Microsoft and many other data-driven leaders. StarTree has experienced unprecedented momentum since launching in spring 2021, fueled by growing demand for real-time analytics to power both enterprise and user-facing analytics applications. Over the past year, Apache Pinot downloads grew nearly 20X from 50,000 in 2020 to one million in 2021. The Apache Pinot open source Slack community also grew 30X, from 100 members to nearly 3,000 members today.
“We are seeing companies across a wide variety of industries recognize the value of providing real-time user-facing analytics at scale to their customers,” said Glenn Solomon, managing partner of GGV Capital and StarTree board member. “The challenge and opportunity lies in implementation, and StarTree makes it easy for companies of all sizes to build user-facing data applications. We’ve also seen open source technology become mainstream in the enterprise space. Open source companies live and die by the strength of their developer community, and the StarTree user community is fervent, loyal, and growing rapidly. The combination of an industry leading real-time analytics platform and the strength of their community will propel StarTree to become the next great open source based software company.”
“We’re frankly amazed and humbled by how the community has embraced Apache Pinot and StarTree,” said Kishore Gopalakrishna, co-founder and CEO of StarTree. “Such explosive growth within a short time period proves the need for the delivery of real-time analytics with low latency at scale. With the new technology and services we’re building on top of Apache Pinot, we’re opening the door for any company to extract intelligence that enables their customers, partners and employees to take action based on the freshest data and insights.”