Topics
late
AI
Amazon
Image Credits:zf L / Getty Images
Apps
Biotech & Health
Climate
Image Credits:zf L / Getty Images
Cloud Computing
DoC
Crypto
go-ahead
EVs
Fintech
Fundraising
gismo
Gaming
Government & Policy
computer hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
certificate
societal
distance
Startups
TikTok
transportation system
speculation
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
meet Us
Upstashannounced a$1.9 million source roundalmost exactly two years ago , and an melodic theme for building a serverless data weapons platform for datum - intensive applications programme built with Redis and Kafka . That does n’t feel like that long ago , but a bunch has changed in the datum landscape painting since then .
tight - forward to now and the company is boast ARR of $ 1 million , a $ 10 million Series A head by a16z and a shiny new vector database . What ’s changed in those two myopic twelvemonth since the society launched is the growth of generative AI , which as you may have notice is a somewhat data - intensive software .
Company founder and CEO Enes Akar says that his idea to produce a consumption - based pricing framework , mean you do n’t pay until data starts moving through the system , has been a compelling one to developer , specially those using Kafka or Redis for datum .
He says that the pricing manikin reduces the risk of infection for creating applications . “ ingestion pricing is our biggest differentiation in the grocery store because it removes barriers for developers . As a developer , if I begin a company I do n’t have to pay until I get some existent traffic and it becomes really popular , ” Akar evidence TechCrunch .
The approach seems to be mold with the fellowship growing from 12,000 developer in March 2022 to 85,000 today . That kind of adhesive friction tends to attract attention , and Akar says Andreessen Horowitz in reality come near him about funding , not a narrative you hear much these solar day in clock time of tightening pocketbook strings from investors .
He got an unsolicited e-mail last June from a16z offering a meeting , but Akar says he was n’t wait for additional funding . In fact , he was more concerned in staying self-governing while he built up the business , but when they offer to have a chat over Indian food in business district Palo Alto , he decide to at least have a Old World chat , because he joke , he really wanted to sample that restaurant anyway .
Over dinner it came up that he did n’t have to start a board of manager to get this funding , and that get his attention because of his desire to remain independent as long as he could . “ I felt like it was still other . I still had money . I also had some belligerent objective lens like creating new products , but I told them I was n’t concerned , ” he say .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
By August , however , as he watched reproductive AI begin to really take hold , he had second mentation . Akar , who is from Eskisehir , Turkey , was back home on vacation when he settle to call back to see if they were still interested in providing the backing . It turned out that they were and they began negotiating . The deal closed about a month later .
The new transmitter database , which play a key role in helping find info in productive AI applications is a unmediated response to the bounteous interest in this technology , and is specifically targeting AI developer . “ So before Upstash Vector , we had seen many developers using Upstash to develop AI applications programme together with OpenAI APIs or Hugging Face APIs and they use Upstash Redis for hive up and salt away data . Now we ’ve introduce Upstash Vector , which they can use just likePine Coneor other transmitter databases , ” he said .
The party , which currently has around 16 employees , with many of the employee still based in Turkey , of late rent Melek Pelen Esin , his longtime champion , whose backdrop includes an MBA from MIT , a stint at McKinsey and time at Facebook in a sales management placement , as COO . She ’s running the business side of the house , while Akar runs applied science . They are both establish in Silicon Valley .
They plan to hire another 15 or so employee in the next class , concentrating on professional financial support and customer success .
