Pinecone

Pinecone

High-performance vector database for AI applications

About Pinecone

Simplify's Rating
Why Pinecone is rated
B
Rated C on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Enterprise Software

AI & Machine Learning

Company Size

51-200

Company Stage

Series B

Total Funding

$134.2M

Headquarters

New York City, New York

Founded

2019

Overview

Pinecone provides a fully-managed vector database that helps businesses develop AI applications capable of storing and searching through vector embeddings. This technology allows for a deeper understanding of data, enabling applications like chatbots to retrieve relevant information effectively. By integrating Pinecone's services, chatbots can access the most pertinent context from a company's data, enhancing their ability to respond accurately to user queries. The company offers a scalable business model, starting with a free plan and using transparent, resource-based pricing, so clients only pay for what they use. Pinecone's services are designed to be developer-friendly and easily scalable, allowing businesses of all sizes to implement AI solutions without the burden of managing infrastructure or troubleshooting algorithms.

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Significant Headcount Growth
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Simplify's Take

What believers are saying

  • Integration with Cohere's Rerank 3.5 model boosts AI application accuracy and competitiveness.
  • Partnership with Robust Intelligence enhances security for retrieval-augmented generation applications.
  • Bulk import feature attracts enterprises with large datasets, expanding Pinecone's market appeal.

What critics are saying

  • Competition from tech giants like Google challenges Pinecone's position in AI search solutions.
  • OpenAI's acquisition of Rockset may overshadow Pinecone's vector database capabilities.
  • Rapid generative AI evolution pressures Pinecone to continuously innovate and maintain competitiveness.

What makes Pinecone unique

  • Pinecone offers a fully-managed vector database for AI applications, simplifying development.
  • The platform integrates proprietary reranking and sparse embedding models for enhanced AI performance.
  • Pinecone's serverless offerings across major clouds support scalable, multicloud AI infrastructure.

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Funding

Total Funding

$134.2M

Above

Industry Average

Funded Over

3 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$65M
Substack
$100M
ClickUp
$100M
Pinecone

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Mental Health Support

Fertility Treatment Support

Company Equity

401(k) Retirement Plan

Flexible Paid Time Off

Paid Parental Leave

Employee Stock Purchase Plan

Home Office Stipend

Growth & Insights and Company News

Headcount

6 month growth

↑ 0%

1 year growth

↑ 12%

2 year growth

↑ 10%
PR Newswire
Dec 3rd, 2024
First-Of-Its-Kind Pinecone Knowledge Platform To Power Best-In-Class Retrieval For Customers

New proprietary reranking and embedding models, as well as the addition of third-party models like Cohere's Rerank 3.5 model, further provide customers quick, easy access to high-quality retrieval and significantly streamline the development of grounded AI applications."Our goal at Pinecone has always been to make it as easy as possible for developers to build production-ready knowledgeable AI applications quickly and at scale," said Edo Liberty, founder and CEO of Pinecone. "By adding built-in and fully-managed inference capabilities directly into our vector database, as well as new retrieval functionality, we're not only simplifying the development process but also dramatically improving the performance and accuracy of AI-powered solutions."Pinecone's composable platform now includes the following updates:pinecone-rerank-v0 proprietary reranking modelproprietary reranking model pinecone-sparse-english-v0 proprietary sparse embedding modelproprietary sparse embedding model New sparse vector index typeIntegration of Cohere's Rerank 3.5 modelNew security features, including role-based access controls (RBAC), audit logs, customer-managed encryption keys (CMEK), and the general availability (GA) of Private Endpoints for AWS PrivateLinkAdvancing the state of the art for retrievalHigh-quality retrieval is key to delivering the best user experience in AI search and retrieval-augmented generation (RAG) applications. Pinecone's research shows that state-of-the-art performance requires combining three key components:Dense vector retrieval to capture deep semantic similaritiesto capture deep semantic similarities Fast and precise sparse retrieval for keyword and entity search using a proprietary sparse indexing algorithmfor keyword and entity search using a proprietary sparse indexing algorithm Best-in-class reranking models to combine dense and sparse results and maximize relevanceBy combining the sparse retrieval, dense retrieval, and reranking capabilities within Pinecone, developers will be able to create end-to-end retrieval systems that deliver up to 48% and on average 24% better performance than dense or sparse retrieval alone."With the advent of GenAI, we knew we could challenge the status quo in talent acquisition by building an experience focused on the job seeker rather than the hiring company," said Alex Bowcut, CTO of Hyperleap. "With Pinecone, we've seen 40% better click-through rates for the job matches we deliver with search results using their semantic retrieval as opposed to traditional full-text search. Now, with the addition of sparse vector retrieval to Pinecone's proven natural language search capabilities, we're excited to explore how we can bring deeper personalization to people looking for work."Pinecone proprietary modelsWith the introduction of its first proprietary models, Pinecone is making it easier for developers to build knowledgeable AI.Natively integrated into Pinecone's platform, these models simplify the development of production-ready AI applications.AI search simplified with integrated inferenceWith the release of Pinecone's integrated inference capability, engineers can now develop state-of-the-art applications without the burden of managing model hosting, integration, or infrastructure. By offering these capabilities behind a single API, developers can seamlessly access top embedding and reranking models hosted on Pinecone's infrastructure, eliminating the need to worry about vectors or data being routed through multiple providers

Big Data Wire
Dec 2nd, 2024
Pinecone Enhances Vector Database with AI Inference Capabilities

Pinecone has also announced the general availability of Private Endpoints for AWS PrivateLink.

VentureBeat
Dec 2nd, 2024
Pinecone Expands Vector Database With Cascading Retrieval, Boosting Enterprise Ai Accuracy By Up To 48%

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More. Pinecone has made a name for itself in recent years as being one of the leading native vector database platforms. Pinecone is continuing to differentiate in an increasingly competitive market with new capabilities to help solve enterprise AI challengesToday Pinecone announced a series of updates to its namesake vector database platform. The updates include a new cascading retrieval approach that combines the benefits of dense and sparse vector retrieval. Pinecone is also deploying a new set of reranking technologies designed to help improve accuracy and efficiency for vector embeddings

BetaNews
Dec 2nd, 2024
New platform lets developers build more accurate AI apps faster

Knowledge platform Pinecone has announced new vector database capabilities combined with proprietary AI models to help developers build more accurate AI applications, faster and more easily.

Datanami
Aug 27th, 2024
Pinecone Expands Serverless Vector DBs In the Cloud

With serverless vector database offerings in all three major public clouds (it announced the general availability of its AWS serverless offering in May), Pinecone is positioned to capitalize on the current wave of investment in GenAI, much of which is occurring in the public cloud.

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