https://techcrunch.com/2023/04/27/pinecone-drops-100m-investment-on-750m-valuation-as-vector-database-demand-grows/

When Pinecone launched a vector database aimed at data scientists in 2021, it was probably ahead of its time. But as the use cases began to take shape last year, the company began pushing AI-driven semantic search. With the rise of LLMs in the public consciousness, companies are beginning to see the value of vector databases even more.

Investors apparently agree. Today, the company announced a $100 million Series B investment on a $750 million post valuation. These kinds of numbers have been hard come by in a conservative investment environment, but the company is growing fast and investors saw an opportunity to grab a market leader, says Pinecone CEO and founder Edo Liberty.