MindsDB Raises $16.5M Series A from Benchmark



MindsDB, the world’s most widely used open-source applied machine learning (ML) platform, announced today a $16.5 million Series A investment from Benchmark.

MindsDB was created to significantly accelerate the development of AI-powered applications. MindsDB has become one of the fastest-growing developer platforms, with over 13,000 GitHub Stars and 70+ technology and data integrations.

This new investment comes on the heels of MindsDB’s recent integrations with Hugging Face and OpenAI, which enable anyone to easily integrate cutting-edge natural language processing and generative AI models into their database with just a few lines of SQL.

Jorge Torres, Co-Founder and CEO of MindsDB, has stated that the world of technology is undergoing a major transformation, with the reinvention of everyday systems like email, calendars, CRMs, ERPs, CMSs, telehealth, and office documents, all with AI capabilities at their core. He believes that this revolution in SaaS is a result of the significant advancements in the field of technology over the past 20 years, including the rise of web applications and the growth of mobile apps.

According to Torres, the integration of AI into these systems is rapidly changing the way we interact with technology and with MindsDB, developers have the opportunity to create the next wave of AI-centered applications that will revolutionize the way we live and work.

Chetan Puttagunta, General Partner at Benchmark, has highlighted the growing interest among the developer community to incorporate machine learning into their applications. However, he acknowledges that the process can be complicated and costly.

Puttagunta believes that MindsDB is solving this problem by empowering developers, regardless of their size, to quickly and efficiently run ML models of their choice with the database of their choice. He credits this approach for making MindsDB the go-to choice for developers and expresses his excitement to work with Jorge, Adam, and the rest of the MindsDB team to further this cause.

Hugging Face provides developers with access to pre-trained NLP models for use cases such as advanced text classification, sentiment analysis, emotion detection, translation, and more. With the OpenAI integration, developers can tailor the power of cutting-edge generative AI models such as GPT-3, Codex, and DALLE to their data.

Benchmark is well-known for investing in and collaborating with entrepreneurs who are transforming startups into transformational businesses. Confluent, Elastic, Cockroach Labs, Docker, Airbyte, Clickhouse, MySQL, TimeScaleDB, Red Hat, and many other companies have recognized the firm’s commitment to open source.

Related Stories