Andreessen Horowitz led a $100M Series B funding round into AI vector database startup Pinecone.
The New York-based firm was valued at $750M at the current fundraiser, more than four times its previous valuation of $168M from its Series A round a year ago. Pinecone will back R&D efforts, grow its team size, and scale the organization with the proceeds from the funding round.
Before the current round, Pinecone had raised $28M in Series A funding led by Menlo Ventures in February 2022 and $10M in seed funding led by Wing Venture Capital in January 2021.
- Existing backers Menlo Ventures and Wing Venture Capital participated in the recent funding round, joined by new investor ICONIQ Growth.
- Pinecone provides a vector database that serves as a core component of AI models and AI-powered applications.
- The firm's notable clients include Shopify, Hubspot, Zapier, and Gong.
