StarTree Achieves 80% Customer Growth and 90% Revenue Increase H1 FY25, On Track to Double Customer Base by Year-End
MOUNTAIN VIEW, Calif., Sept. 09, 2024 (GLOBE NEWSWIRE) -- StarTree, the cloud-based real-time analytics company, today announced that it has achieved a 90% revenue increase and 80% customer growth through the first half of FY25, indicating it is on track to double its customer count by the end of the year. StarTree Cloud now ingests 1.1 million events per second while serving 1.19 billion queries per week, demonstrating both the market demand for real-time analytics and StarTree's unparalleled scale and concurrency. Companies across industries including financial services, healthcare, media & entertainment, sales & customer service, technology, transportation & delivery, and more are turning to real-time analytic databases to create user facing data products at scale. StarTree’s growth is driven by its ability to offer unmatched scalability, advanced data insights, and flexible storage solutions that set it apart from other real-time analytical platforms.
Many workloads are shifting from traditional data warehouses and data lakes to real-time analytic databases, marking a fundamental change in how organizations leverage data. Traditional data platform architectures are designed for batch processing and delayed insights, focusing primarily on internal decision-making. In contrast, real-time analytic databases maximize data freshness and deliver sub-second analytics, supporting web-scale levels of user concurrency. This advancement enables user-facing analytics, where real-time insights are seamlessly delivered to external users like customers, employees, and partners. The result is a more responsive, dynamic, and scalable data analytic experience that traditional data warehouse and data lakes simply cannot match.
StarTree offers key advantages beyond other real-time analytical platforms, including the ability to process real-time upserts at scale, leverage cloud object stores for affordable tiered storage, query-time join operations for discovering deeper data insights, and flexible, pluggable indexing that can be applied to any column in the customer's data for fast aggregations. StarTree has recently been selected to help innovative organizations offer real-time analytics insights directly to their users. Some of these include, 7SIGNAL, AmberData, Aircall, BOLD, Citi, ClickFunnels, Combocurve, Convin, Eventbrite, Fetch, fleetpulse.com, Flixmedia Holdings, Inc., hireEZ, Lotlinx Inc, Magic Eden, Mutiny, Naehas, Inc., QorPay, SmartContract, Fintech, TAPP, and Turquoise Health.
As data continues to proliferate across industries, organizations are continuing to grow capabilities to harness and get value from that data. Organizations that are expanding their original real-time use cases, and finding new opportunities to build on that success, include: Blinkit, Dialpad, Mixmode, Moloco, Moveworks, Pratilipi, Qcells North America, Razorpay, Sovrn, Synpulse and Uniqode.
“StarTree's rapid customer adoption underscores the limitations of existing solutions, particularly in handling high concurrency and maintaining data freshness at scale,” said Kishore Gopalakrishna, Cofounder and CEO, StarTree. “Many legacy analytics systems struggle with either real-time responsiveness or supporting a vast number of users simultaneously, creating gaps for enterprises seeking to democratize data access. Built on Apache Pinot, StarTree uniquely addresses these challenges by providing high-performance, real-time user-facing analytics with seamless scalability. By enabling organizations to offer insights directly to users, StarTree empowers more informed decision-making while enhancing the customer experience.”
StarTree experienced exceptional growth in 2023, more than doubling customers and revenue, winning the Integration ISV Partner of the Year Award from Confluent alongside being a flagship Connect with Confluent partner, joining the AWS ISV Accelerate Program, and being invited to the AWS Global Startup Program. StarTree also announced a strategic investment from Citi in 2024.
StarTree Cloud is available on AWS, Google Cloud, and Microsoft Azure. Users can learn more and sign up for a free cluster at startree.ai/products/startree-cloud.
About StarTree
At StarTree, we understand the urgency of the on-demand economy and help businesses like Citi, Stripe, DoorDash, Nubank, Zomato, and Dialpad deliver real-time analytics into their user-facing applications. StarTree Cloud, powered by Apache Pinot™, is a fully-managed real-time analytics Database-as-a-Service (DBaaS). StarTree’s platform is built to power insights for millions of users at massive speed and scale, and a fraction of the cost of alternatives. Whether user-facing apps, or backend APIs and microservices, real-time analytics are now a required component powering internal and customer-facing dashboards. With StarTree, customers unlock the full potential of their data while exceeding millions of user expectations. StarTree is closely partnered with analytics leaders such as AWS, Google Cloud, Microsoft, Confluent, Databricks and others to help customers achieve their real-time analytics goals.
Additional information may be found at www.startree.ai | Twitter: @startreedata | YouTube: youtube.com/@StarTree | Blog: startree.ai/blog | LinkedIn: linkedin.com/company/startreedata/
Media Contact:
Beth Winkowski
PR for StarTree
978-649-7189
beth@winkowskipr.com
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