With 4x revenue growth, 10x customer growth, and 2x employee growth, StarTree is poised to accelerate adoption of real-time analytics in 2023
MOUNTAIN VIEW, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- StarTree, Inc. today announced strong business momentum during 2022, fueling 4x growth in sales revenue and 10x growth in the number of customers while doubling headcount to 100 employees across multiple countries. The growth reflects strong adoption of real-time, user-facing analytics at scale, as companies across a wide variety of industries empower their customers, partners and employees to take action based on timely insights and data. In addition, with a $47 million Series B round of funding announced in 2022, StarTree is now poised to drive fast adoption of its real-time analytics platform in 2023.
Among the new customers who are using StarTree to extract intelligence from their data are Stripe, Sovrn, Razorpay, Rippling, Moveworks, Zomato/Blinkit, and Just Eat Takeaway — further validating the company’s recognition as one of The Information’s 50 Most Promising Startups 2022 and CRN’s Top 10 Coolest Cloud Computing Startup Companies of 2022. As momentum for StarTree continued to build, the company expanded its leadership team with the addition of Jeff Miller as Chief Revenue Officer; Bhavani Akunuri as Chief of Staff; Jitender Aswani as Vice President of Engineering; and Jen Murphy as Vice President of Channels and Alliances.
“2022 was a landmark year for StarTree, as we secured our Series B round of funding and significantly grew our revenue and customer base. We continued to bring innovative solutions to market to help our customers make smart decisions based on data, including launching the Bring Your Own Cloud (BYOC) version of StarTree Cloud and StarTree Community Edition,” said Kishore Gopalakrishna, co-founder and CEO of StarTree. “In 2023, we look forward to continuing to help our customers take the next leap forward in differentiating themselves and their services from their competitors, by harnessing valuable insights in real-time. Together with our customers, we will democratize data insights and give every user a way to leverage the vast stores of data they produce."
StarTree is driving innovation and adoption globally of real-time analytics to power both enterprise and user-facing analytics applications. Built for progressive data-driven companies to help increase engagement and revenue through real-time user-facing analytics, the company was founded by the original creators of Apache Pinot™, the real-time distributed OLAP data store proven at scale by industry leaders in retail, finance, delivery and others, including LinkedIn, Cisco, DoorDash, Etsy, Hyundai, Razorpay, 7-Eleven, Target, Uber, Walmart, Microsoft and many other data-driven leaders.
Of note, over the past year, Apache Pinot downloads increased by 73%, hitting over 2 million downloads. The Apache Pinot open-source Slack community also grew by 62%, to over 2,900 members today. StarTree hosted 19 meetups and the first Real-Time Analytics Summit and its sequel virtually, with over 600 attendees from more than 40 countries now looking forward to the 2023 Real-Time Analytics Summit on April 24-26, in San Francisco, California.
In terms of product innovation, StarTree launched the Bring Your Own Cloud (BYOC) version of StarTree Cloud, which delivers secure, enterprise-ready Apache Pinot clusters with StarTree’s services and apps within the customer's cloud account but is deployed, configured, and managed remotely by StarTree. It also released StarTree Community Edition, a free, downloadable, ready-to-use package of Apache Pinot and additional plugins and extensions and StarTree ThirdEye, an anomaly detection platform that allows organizations to monitor critical business KPIs in real-time and automatically detect anomalies. In addition, the company joined the Intel Disruptor Initiative program to help optimize StarTree Cloud on various Intel hardware and software platforms.
StarTree is a cloud-based software company that enables business customers to derive advanced insights from real-time and historical data. StarTree was founded by the core software engineering team and inventors of Apache PinotTM, which currently powers hundreds of user-facing applications at companies across industries, including LinkedIn, Uber, Target, 7Eleven, Etsy, Walmart, WePay, Factual, Weibo, and more. StarTree Cloud has enabled even more companies to deploy and operate real-time analytics at scale, including Stripe, Sovrn, Razorpay, Rippling, Moveworks, Zomato/Blinkit, Just Eat Takeaway, and more.
StarTree recently announced its Series B Funding led by Series A investor GGV Capital, with additional investment from new investor Sapphire Ventures and existing investors Bain Capital Ventures and CRV. StarTree has raised a total of $75 million to date. StarTree believes that every company should be able to deploy and operate real-time analytics at scale to differentiate itself from its competitors and deliver greater value to customers and users.
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