StarTree Secures Strategic Investment from Citi to Extend Leadership in Real-Time Data Analytics
Financial powerhouse backs cloud-based service that enables real-time decision-making
MOUNTAIN VIEW, Calif., March 07, 2024 (GLOBE NEWSWIRE) — StarTree, a cloud-based real-time analytics services company, today announced a strategic investment from Citi.
StarTree Cloud, powered by Apache Pinot™, is a real-time analytics platform for user-facing applications. It allows businesses and their customers to make critical decisions based on the freshest data, at scale, integrating both real-time data streams with historical insights. Typical use cases for financial services include fraud detection, portfolio risk monitoring, and other risk-related use cases that require real and near-real time accurate data. StarTree Cloud helps financial institutions maintain their risk positions and have audit trails for compliance. Other popular StarTree use cases include location-based services such as food delivery and freight logistics, personalization of online and retail shopping experiences, AdTech/MarTech, customer services, and more.
Citi uses both the open-source Apache Pinot and StarTree Cloud to access trade and risk monitoring for its Markets business, where low latency, data accuracy, and query performance is critical.
Citi made the investment through its Markets Strategic Investments unit and plans to roll out the solutions to more businesses across the bank.
“User-facing analytics have seen profound growth in recent years across all industries, accelerating the need for enterprise-ready, real-time data solutions. StarTree and Pinot’s speed of ingestion is unmatched on complex state-of-the-world queries over rapidly changing data. Our investment in and collaboration with StarTree will enable us to build tools faster to meet the increasing demands of our businesses and clients alike,” said Katya Chupryna, Director, Markets Strategic Investments at Citi.
“This investment reflects Apache Pinot’s ability to power capital markets applications in real-world use cases. Payment fintech applications, such as Stripe and Razorpay, are already leveraging StarTree,” noted StarTree founder and CEO Kishore Gopalakrishna. “We are empowering companies to reach new customers with new capabilities and an exceptional user experience that only real-time analytics can deliver. We look forward to working with Citi on other real-time use cases.”
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 hired key executives Jeff Miller as Chief Revenue Officer, and Jess Iandiorio as Chief Marketing Officer.
StarTree Cloud is available on AWS, Google Cloud, and Microsoft Azure. Users can learn more at startree.ai/products/startree-cloud.
About StarTree
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 Pinot™, which currently powers hundreds of user-facing applications at companies across industries, including LinkedIn, Uber, Target, Cisco, DoorDash, 7-Eleven, Etsy, Walmart, and more. StarTree Cloud has enabled even more companies to deploy and operate real-time analytics at scale, including Stripe, Dialpad, Sovrn, Razorpay, Rippling, ComboCurve, Moveworks, Zomato, Blinkit, Just Eat Takeaway, and more.
Additional information may be found at www.startree.ai | Twitter: @startreedata | YouTube: youtube.com/@StarTree | Blog: startree.ai/blog | LinkedIn: linkedin.com/company/startreedata/
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
Media Contacts:
StarTree
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Citi
Rekha Jogia-Soni
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