Zilliz Reels In $60 Million Series B Extension

<p><strong>SAN FRANCISCO<&sol;strong> – Zilliz&comma; a vector database company and the inventor of Milvus&comma; has raised a &dollar;60 million extension to its initial &dollar;43 million Series B&period; Prosperity7 Ventures led the round&comma; with participation from existing investors Temasek&&num;8217&semi;s Pavilion Capital&comma; Hillhouse Capital&comma; 5Y Capital&comma; and Yunqi Capital&period; This brings total investment in the company to &dollar;113 million&period;<&sol;p>&NewLine;<p>Following the opening of its Silicon Valley headquarters&comma; Zilliz plans to expand both engineering and go-to-market teams&period; This will enable Zilliz to double-down on its continuous commitment to open source and further enhance its managed cloud offering&period;<&sol;p>&NewLine;<p>Zilliz develops high-performance vector database management systems for AI applications&period; Modern AI algorithms use feature vectors to represent the deep semantics of unstructured data&comma; necessitating purpose-built data infrastructure to manage and process them at scale&period; Zilliz is at the forefront of this mission&comma; providing the vector database that is both cloud native and capable of processing billion-scale vector data in milliseconds&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Zilliz&&num;8217&semi;s journey to this point started with the creation of Milvus&comma; an open-source vector database that eventually joined the LF AI &amp&semi; Data Foundation as a top-level project&comma;&&num;8221&semi; said Charles Xie&comma; founder and CEO of Zilliz&period; &&num;8220&semi;Milvus has now become the world&&num;8217&semi;s most popular open-source vector database with over a thousand end-users&period; We will continue to serve as a primary contributor and committer to Milvus and deliver on our promise to provide a fully managed vector database service on public cloud with the security&comma; reliability&comma; ease of use&comma; and affordability that enterprises require&period;&&num;8221&semi;<&sol;p>&NewLine;<p>This fully managed offering is currently in private preview for early access on Zilliz Cloud&comma; available by invitation to customers for testing and feedback before becoming more broadly available&period; The long-term vision for Zilliz Cloud is to be a fully managed database-as-a-service &lpar;DBaaS&rpar; that provides an integrated platform for vector data processing&comma; unstructured data analytics&comma; and enterprise AI application development&period;<&sol;p>&NewLine;<p>&&num;8220&semi;With its leadership on Milvus&comma; Zilliz is a global leader in vector similarity search on massive amounts of unstructured data&comma;&&num;8221&semi; said Aysar Tayeb&comma; Executive Managing Director of Prosperity7 Ventures&period; &&num;8220&semi;We believe that the company is in a strong position to build a cloud platform around Milvus that will unleash new and powerful business insights and outcomes for its customers&comma; just as data analytics platforms like Databricks and Snowflake have done with structured data&period; There is already over 4x more unstructured data than structured data&comma; a gap that will continue to grow as AI&comma; robotics&comma; IoT&comma; and other technologies meld the digital and physical realms&period;&&num;8221&semi;<&sol;p>&NewLine;