StarTree Inc., a startup marketing the Apache Pinot open-source data analytics platform, today announcement that it secured $47 million in new funding.
The Series B funding round follows a $24 million Series A investment that StarTree announcement last May. GGV Capital, one of the participants in last year’s investment, led the startup’s latest raise. Sapphire Ventures, Bain Capital Ventures and CRV also contributed.
StarTree markets Apache Pinot, an open-source platform created by the startup’s founders that helps companies build analytics functionality for users. A user-oriented analytics feature is a section of an application’s interface that allows users to interact with data. A restaurant management application, for example, may include an interface section that provides data on the revenue generated by a restaurant over the past week.
Building analytics functionality for users involves a different set of requirements than a typical enterprise analytics project.
The first requirement is the ability to support a large number of users. If an app has millions of users, its user-facing analytics should be able to deliver data to millions of devices. In contrast, most business analytics projects are designed to provide business insights to a limited number of decision makers within a company.
Another requirement that user-facing analytics features must meet is the ability to provide low latency. Consumer apps are meant to load fast, and therefore their user-facing analytics features should load fast as well. In some cases, this requires providing latencies as low as a few milliseconds.
StarTree says Pinot combines low latency with the ability to support large numbers of users. The platform can ingest data from a company’s internal systems in a fraction of a second and then stream it to an application’s analytics tools for users. Thanks to Pinot, a company can allow its users not only to access data, but also to analyze it directly through the interface of an application.
Pinot also lends itself to other types of software projects. According to StarTree, businesses can use the platform to create internal analytics dashboards that track business metrics in real time. Pinot’s ability to analyze large amounts of data is also useful for detecting notable events, such as a sudden increase in sales at one of a company’s stores.
According to StarTree, Pinot is proving increasingly popular in the business. The platform is used by Microsoft Corp., Cisco Systems Inc. and many other technology companies. StarTree says developers downloaded the platform about 950,000 times from 2010 to 2021.
“Such explosive growth in a short period of time proves the need to deliver real-time analytics with low latency at scale,” said StarTree co-founder and CEO Kishore Gopalakrishna. “With the new technology and services we’re building on Apache Pinot, we’re opening the door for any business to extract insights that empower their customers, partners, and employees to act on the latest data and insights. .”
StarTree sells a cloud-based commercial version of Pinot called StarTree Cloud. The offer provides features that make it easier for businesses to use the platform. StarTree Cloud reduces the amount of manual work involved in creating a Pinot environment, automatically applies updates, and provides cybersecurity features not provided by the open source version.
Since its launch, StarTree Cloud has been adopted by Stripe Inc., publicly traded food delivery provider Just Eat Takeaway.com NV, and a number of other companies. StarTree will invest in new sales and marketing initiatives following its latest $47 million funding round to continue to grow its customer base.
StarTree’s growth plan also includes other elements. The startup will open an office in India and intends to accelerate its product development roadmap. As part of this effort, StarTree plans to significantly grow its 70-person team through the end of 2023.