Rockset Triples Revenue and Doubles Customer Base Year Over Year, Again
Leading real-time analytics company achieves 3.6x year over year growth by pioneering cloud-native efficiency and simplicity in real-time analytics
SAN MATEO, Calif., Jan. 19, 2023 – Rockset, the leading real-time analytics database built for the cloud, today announced another year of exponential growth, where annual recurring revenue (ARR) more than tripled and the customer base more than doubled based on latest fiscal quarter results. This is the second year in a row that Rockset has achieved this level of growth, firmly establishing the company as the leader in real-time analytics. Rockset is built by the team behind RocksDB and backed by Greylock Partners and Sequoia Capital.
Rockset has proven to be a critical piece of the streaming data stack for building powerful user-facing analytics and data applications. Streaming-first architectures are giving nimble organizations a competitive advantage in the current economy, allowing teams to respond in real-time as events occur. Rockset’s impressive growth is driven by a truly cloud-native real-time analytics database that delivers unparalleled speed, maximum compute efficiency and surprising simplicity.
Industry Momentum and Customer Growth
Real-time analytics is a key enabler for digital natives such as gametech, edtech and fintech, as well as industries undergoing digital transformations such as retail, insurance and airlines. Rockset is currently in use by hundreds of customers, including the following industry leaders:
- Meta, (formerly the Facebook company) which builds technologies that help people connect, find communities and grow businesses, uses Rockset for PyTorch Infrastructure.
- Allianz Direct, the pan-European direct insurer of the Allianz Group that is committed to building the future of digital insurance, uses Rockset for real-time pricing.
- Seesaw, which makes engaging, personalized learning part of every student's experience in school, uses Rockset for real-time insights.
- Whatnot, a community marketplace where you can safely buy, sell, go live and geek out with collectors and other like-minded people, uses Rockset for real-time personalization.
Revenue and Usage Growth
Revenue growth: Based on latest fiscal quarter results, the company grew ARR by 3.6x in the last year, after more than tripling ARR in the preceding 12 months as well.
Usage at scale: With global deployments at scale, a single cluster on Rockset’s cloud-native database with 450 TB of data and 484 billion documents scales effortlessly in the cloud and handles 137 MB/s streaming ingest with less than 1 second average query latency.
Continued Product Innovation
- Rockset beat ClickHouse and Druid in the Star Schema Benchmark, performing at 1.67x faster speeds using the same hardware configuration.
- Achieved 84% faster performance with Intel Xeon scalable processors, raising the bar on compute efficiency in the cloud.
- Added new data connectors for Microsoft Azure, allowing users to ingest, transform and analyze real-time data from Azure.
- Added new Snowflake connector enabling low-latency, high-concurrency analytics across streaming data and historical data from Snowflake.
- Added native connector for Amazon Managed Streaming for Apache Kafka (MSK) service, allowing AWS customers to deploy the modern real-time data stack in minutes.
- Won the 2022 Digital Innovator Award from Intellyx, a recognition for cutting edge vendors that are driving enterprise digital transformation.
- Named One of the Best Workplaces in the Bay Area in 2022 by Great Place to Work and Fortune Magazine.
- CEO Venkat Venkataramani named as a Person to Watch in 2022 by Datanami.
- Chief Product Officer and SVP of Marketing Shruti Bhat named a Women of Influence 2022 by Silicon Valley Business Journal.
- Recognized by CRN in the 10 Coolest Business Analytics Tools.
- Awarded 2022 Data Tech Startup of the Year by Data Breakthrough Awards.
- Joined the Intel Disruptor program, enabling Rockset to push the limits of innovation through bi-directional roadmap development and multi-channel go-to-market activities.
- Joined the AWS ISV Accelerate program and listed on AWS Marketplace, enabling more companies to build data applications at cloud scale.
- Appointed new leadership including Louis Brandy as VP engineering, Jennifer Lee as VP finance and Teresa Dodson as the Head of Partnerships and Alliances.
“This past year I've had the privilege of working with engineering leaders and architects from Allianz, Whatnot, Meta and more to operationalize real-time data. I've seen these engineering teams disrupt insurance pricing, personalize e-commerce experiences and make real-time insights a part of day-to-day decision making,” says Venkat Venkataramani, co-founder and CEO of Rockset. “I am both delighted and humbled to see Rockset play such an important role in helping these amazing companies succeed and move from batch to real-time. This next year we'll see speed, scale and efficiency gains in real-time analytics that have never been achieved before.”
Rockset, the Real-time Analytics Database Built for the Cloud, delivers fast analytics on real-time data with surprising efficiency. Search, join and aggregate any data at scale with sub-second response. Scale efficiently with Rockset’s converged indexing and built-in connectors. Build data apps in weeks, not months, regardless of the shape of your data. For more information, go to rockset.com.