MOUNTAIN VIEW — StarTree, Inc. announced $24 million in Series A funding to build and offer a cloud analytics-as-a-service platform built around Apache Pinot, which is uniquely designed to serve up fresh analytics at scale with low latency for thousands or millions of users. StarTree was founded by Apache Pinot’s creators, who built and operated the real-time analytics platform at LinkedIn and Uber. Apache Pinot has now been proven at scale by LinkedIn, Stripe, Uber, Walmart, Weibo, WePay and many others. StarTree will use the investment to spur broad adoption of user-facing analytics, as progressive data-driven companies provide real-time insights to customers and business partners to grow their engagement and revenue.
The Series A funding was led by Bain Capital Ventures and GGV Capital, with investment from existing investor CRV. StarTree previously raised $4 million seed funding in November 2019, led by CRV with additional investment from LinkedIn and individual investors: Neha Narkhede, co-founder at Confluent; Gokul Rajaram, DoorDash executive and Coinbase board member; Jason Warner, CTO at GitHub; Igor Perisic, Chief Data Officer at LinkedIn; Raghu Hiremagalur, CTO at LinkedIn; Jason Forget, CRO at Redis Labs; and Chet Kapoor, CEO at DataStax.
“From LinkedIn to Uber to Stripe, the most innovative companies increasingly provide real-time analytics as part of their applications,” said Glenn Solomon, managing partner at GGV Capital. “Providing scalable insights to users and customers serves as a strong competitive advantage, fueling more engagement and more revenue. Our research has shown that Apache Pinot is the highest performance real-time analytics platform in the market, putting StarTree in the unique position to democratize data for all users. We’re excited to back this incredible team.”
“Real-time analytics are moving beyond the enterprise, as digital pioneers increasingly see value in exposing insights to their customers, partners and franchisees,” said Enrique Salem, partner at Bain Capital Ventures. “That creates new pressure on existing data infrastructures, which are inadequate for real-time use cases. Data warehouses, data lakes and stream processing systems are all part of the modern data stack, but enterprises still need better ways to federate and serve up fresh analytics at scale with low latency. We believe a new generation of real-time OLAP data stores will meet the need, and StarTree is well positioned to become the category leader based on their groundbreaking work with Apache Pinot.”
“StarTree represents one of the best early technical teams I’ve ever seen in my venture career,” said Max Gazor, General Partner at CRV which led the Series Seed round in the company. “Under Kishore’s leadership, the company has very quickly built the market’s leading real-time data platform that companies of all sizes can leverage.”