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Pinecone Raises $100 Million in Series B funding to provide AI with long-term memory

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Pinecone, a vector database startup that provides long-term memory for AI, revealed today that it has raised $100 million in Series B funding at a valuation of $750 million. Andreessen Horowitz led the round, with participation from ICONIQ Growth and prior investors Menlo Ventures and Wing Venture Capital.

Pinecone’s revolutionary technology and exponential growth have disrupted the $9B search infrastructure business and made Pinecone a major component of the fast-growing $110B Generative AI sector since unveiling the vector database in 2021.

Its vector database enables engineers to deal with data generated and consumed by Large Language Models (LLMs) and other AI models, making it a crucial infrastructure technology for developing scalable, reliable, and accurate commercial AI solutions.

AI’s emergence is causing a fundamental shift in how businesses handle data management. Pinecone has quickly become a standard and critical component of the modern AI stack, stated Peter Levine, General Partner at Andreessen Horowitz.

We’re thrilled to be partnering with Edo, Bob, and the rest of the Pinecone team to support their vision of becoming the memory layer for AI applications.

Pinecone’s success demonstrates the growing demand for AI infrastructure as well as the company’s ability to provide scalable solutions to the field’s most pressing concerns. Pinecone is well-positioned to drive the next wave of AI-powered innovation, thanks to its breakthrough product, efficient growth engine, and world-class workforce.

Pinecone pioneered the vector database, which serves as AI models’ long-term memory and is a critical infrastructure component for AI-powered applications. Engineers can utilize the managed service to swiftly design and deploy fast and scalable apps that use AI model embeddings. Pinecone, which has offices in San Francisco, New York, and Tel Aviv, is backed by Andreessen Horowitz, Menlo Ventures, Wing Venture Capital, and others.

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