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Rockset launches native support for hybrid vector and text search to power AI apps
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Rockset Releases New Instance Class, Gains Momentum as the Search and Analytics Database Built for the Cloud
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Rockset boosts its real-time database with AI upgrades, asserting its place in the vector database market amidst OpenAI advancements.
Rockset, a company building tools to drive real-time search and data analytics, today announced that it raised $44 million $37 million in equity and $7 million in debt led by ICON Ventures with participation from Glynn Capital, Four River Partners, K5 Global, Sequoia and Greylock. CEO Venkat Venkataramani says that the new capital, which brings Rockset's total raised to $105 million, will be put toward R&D, geographic expansion and increasing Rockset's investment in sales and marketing. "We raised venture debt as it reduced our average cost of capital, gave us more flexibility with our finance operations while also keeping our dilution low," Venkataramani told TechCrunch in an email interview.
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