Total amount raised
$113 Millions
Latest funding date
8/1/2022
Location
Zilliz has successfully raised significant funding to support its innovative vector database solutions, attracting attention from prominent investors. The platform offers a fully-managed vector database service built on the open-source Milvus project, designed for enterprise-grade AI applications.
Keep reading to explore the intricacies of Zilliz's fundraising journey and the investors backing this cutting-edge platform.
What Is Zilliz?
Zilliz, founded in 2019, is headquartered in Redwood City, California. The company specializes in vector databases designed for enterprise-grade AI applications. Zilliz offers a fully-managed service built on the open-source Milvus project.
While the names of the founders are not explicitly mentioned, Zilliz has quickly established itself as a leader in the vector database space. The platform supports various use cases, including retrieval augmented generation, recommender systems, and similarity searches across different data types.
Although the exact number of employees is not specified, Zilliz continues to grow and innovate, attracting significant attention from investors and industry leaders alike.
How Much Funding Has Zilliz Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their vector database technology.
- Series A
- Amount Raised: $10M
- Date: January 2018
- Lead Investors: 5Y Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the Milvus project and expand the team.
- Series B
- Amount Raised: $43M
- Date: November 2020
- Lead Investors: Hillhouse Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and prepare for a move into the U.S.
- Series B Extension
- Amount Raised: $60M
- Date: August 2022
- Lead Investors: Prosperity7 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand engineering and go-to-market teams, and enhance the managed cloud offering.
Total amount raised: $113M. Current valuation: Not publicly disclosed.
Key Investors
- Prosperity7 Ventures
- Details: Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Saudi Aramco. The fund aims to support transformative technologies and innovative business models globally.
- Investment Focus Areas: Energy, AI, software.
- Notable Investments: Jaka Robotics, Insilico, Spirit AI.
- Temasek's Pavilion Capital
- Details: Pavilion Capital is a subsidiary of Temasek Holdings, a global investment company headquartered in Singapore. Temasek manages a net portfolio of over $300 billion.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Alibaba, Tencent, Meituan.
- Hillhouse Capital
- Details: Hillhouse Capital is a global investment firm that focuses on long-term value creation. The firm invests across various stages and sectors.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Tencent, JD.com, Baidu.
- 5Y Capital
- Details: 5Y Capital is a venture capital firm that focuses on early and growth-stage investments. The firm is known for its strategic support to technology-driven companies.
- Investment Focus Areas: Technology, AI, big data.
- Notable Investments: Xiaomi, Meituan, Pinduoduo.
- Yunqi Capital
- Details: Yunqi Capital is a venture capital firm that focuses on early-stage investments in technology companies. The firm aims to support innovative startups in their growth journey.
- Investment Focus Areas: AI, big data, cloud computing.
- Notable Investments: Not publicly disclosed.
What's Next for Zilliz?
With the recent $60 million Series B extension, Zilliz is poised to capitalize on the growing demand for AI applications and unstructured data analytics. The company plans to expand its engineering and go-to-market teams, particularly in its new Silicon Valley headquarters. This move positions Zilliz to enhance its managed cloud offerings and develop a fully managed database-as-a-service platform, leveraging the popularity of its open-source Milvus project.
As the market for AI-driven data processing solutions continues to grow, Zilliz is well-positioned to attract further investment. The successful Series B extension suggests that future funding rounds are likely, enabling the company to scale its operations and innovate further. However, Zilliz will face challenges such as competition from other vector database providers and the need to maintain rapid growth while ensuring product quality and security.
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