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- Zilliz
Zilliz Funding, Investors & Competitors
Zilliz has raised $113M across 3 funding rounds, most recently a $60M Series B in August 2022.
Last Zilliz funding round
$60M
Series B · Aug 2022
Cumulative funding Zilliz raised
$113M
across 3 funding rounds
Key investors in Zilliz
5Y Capital
Yunqi Partners
Hillhouse Investment
Pavilion Capital
Green Pine Capital Partners
Trustbridge Partners
Prosperity7 Ventures
Eminence Ventures
About Zilliz
Zilliz is a San Francisco-headquartered cloud provider of Milvus, the open-source vector database with 33,000 GitHub stars and 100 million downloads. Founded in 2017, it serves 10,000+ enterprises including Nvidia, PayPal, and Walmart for AI applications like RAG, recommendation, and drug discovery. Zilliz Cloud runs multi-tenant Milvus on AWS, GCP, and Azure across 20+ regions, indexing billions of vectors for fraud detection and autonomous driving.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Zilliz Funding History
Zilliz has raised a total of $113M across 3 funding rounds.
Zilliz's first fundraising round was a $10M Series A in January 2018. The most recent completed round was a $60M Series B in August 2022.
Zilliz funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Aug 2022 | Series B | Prosperity7 Ventures (lead); Hillhouse Investment; Yunqi Partners; 5Y Capital; Pavilion Capital | $60M | Zilliz, the company behind the open-source Milvus vector database, raised $60 million in a Series B extension on August 24, 2022, led by Prosperity7 Ventures with participation from 5Y Capital, Hillhouse Capital, Pavilion Capital, and Yunqi Partners. This brought total funding to $113 million, following an initial $43 million Series B. The company, originally based in China, established a new headquarters in San Francisco to expand globally and capitalize on AI-driven demand for vector databases handling unstructured data. Zilliz provides a managed cloud vector database built on Milvus, enabling AI applications in areas like computer vision, NLP, recommendation systems, fraud detection, and drug discovery. At the time, it served over 1,000 organizations worldwide. The funds were allocated to grow engineering and go-to-market teams, reinforce open-source commitments, and develop Zilliz Cloud as a fully-managed database-as-a-service for enterprise AI. The investment aligns with Prosperity7's focus on startups with global ambitions, comparing Zilliz's potential to Databricks and Snowflake in unstructured data analytics. Zilliz's paid cloud offering was in private preview, with general availability planned later. |
| Nov 2020 | Series B | Hillhouse Investment (lead); Trustbridge Partners; Morningside Venture Partners; Yunqi Partners; 5Y Capital; Pavilion Capital | $43M | Zilliz is a Shanghai-based AI-powered unstructured data analytics startup founded in 2017 that develops open-source software for processing and analyzing complex, unstructured datasets. The company is the initiator and primary contributor to Milvus, an open-source vector similarity search project released in October 2019 that has become instrumental for applications spanning image processing, computer vision, natural language processing, speech recognition, recommendation engines, search engines, drug development, and gene analysis. By the time of the Series B round, Milvus had been starred over 4,400 times on GitHub, engaged 120+ contributors, and been adopted by 400+ enterprise users worldwide, with approximately half located outside China, all achieved without paid advertising through community engagement on developer platforms. In November 2020, Zilliz closed a Series B funding round of $43 million led by Hillhouse Capital, with additional participation from TrustBridge Capital, Pavilion Capital, and existing investors 5Y Capital (formerly Morningside Venture Capital) and Yunqi Partners, bringing total funding to over $53 million. The company planned to deploy capital toward overseas recruitment, expanding its open-source ecosystem, and research and development in cloud-based products and services, with plans to begin monetization in the second half of 2021. This round represented the largest single Series B funding for an open-source infrastructure software company at the time and signaled growing investor recognition of open-source as an effective software development strategy, following successful exits of companies like Elastic and MongoDB. |
| Jan 2018 | Series A | 5Y Capital (lead); Eminence Ventures; Yunqi Partners; Green Pine Capital Partners | $10M | Zilliz is the company behind Milvus, an open-source vector database designed for AI applications. Founded around 2017, the company spent approximately two years testing concepts with the market before crystallizing its focus on vector databases in 2019, at which point Milvus gained rapid adoption through word-of-mouth traction with dozens of enterprise users. 5Y Capital led Zilliz's Series A funding round in 2018, with founding partner Richard Liu recognized as a top venture investor. The most recent publicly disclosed funding activity was a Series B-II extension round of $60 million on August 24, 2022, led by Prosperity7 Ventures and including backers such as Temasek's Pavilion Capital, Hillhouse Capital, 5Y Capital, and Yunqi Capital, though the company did not publicly disclose its valuation at that time. As of August 2022, Zilliz had raised a total of $115 million across multiple funding rounds and relocated its headquarters to San Francisco. |
Who has invested in Zilliz?
9 investors have backed Zilliz across its funding rounds, including 5Y Capital, Yunqi Partners, Hillhouse Investment, Pavilion Capital, Green Pine Capital Partners and Trustbridge Partners.
Lead investors include Prosperity7 Ventures, Hillhouse Investment and 5Y Capital.
Zilliz Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Jan 2018 | ||
| 3 | Lead | Jan 2018 | ||
| 2 | Lead | Nov 2020 | ||
| 2 | Participant | Nov 2020 | ||
| 1 | Participant | Jan 2018 | ||
| 1 | Participant | Nov 2020 | ||
| 1 | Lead | Aug 2022 | ||
This data is available for Pro users. Sign up to see all 9 Zilliz investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialZilliz Competitors
Zilliz competitors include listed companies like Snowflake, TRS Information Technology and Airship AI, and private ones like Dataiku, Origin Quantum and Certus Core.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $4.7B | ($1.3B) | $119B | 21.0x | ||
| Private | $150M | - | $3.7B | 24.7x | ||
| Private | - | - | $3.5B | - | ||
| Private | - | - | $3.4B | - | ||
| Publicly listed | $76M | ($20M) | $1.7B | 19.7x | ||
| Publicly listed | $15M | ($5M) | $67M | 3.6x |
Zilliz Public Comps
Zilliz is still privately-owned, but its public comps include Oracle, Palantir, Snowflake, Datadog, Z.ai, MongoDB, Nutanix, IonQ, Dynatrace and MiniMax Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $67B | $33B | 8.6x | 7.8x | 17.7x | 13.9x | |||
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $3.4B | ($588K) | 23.6x | 19.4x | (137813.0x) | 77.6x | |||
| $108M | ($658M) | 422.9x | 65.9x | (69.4x) | (73.0x) | |||
| $2.5B | ($104M) | 11.9x | 10.4x | (282.5x) | 49.6x | |||
| $2.5B | $230M | 7.1x | 6.2x | 78.4x | 23.8x | |||
| $130M | ($531M) | 109.9x | 40.3x | (26.9x) | (39.1x) | |||
This data is available for Pro users. Sign up to see all Zilliz competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Zilliz
| When was Zilliz founded? | Zilliz was founded in 2017. |
| Where is Zilliz headquartered? | Zilliz is headquartered in San Francisco, CA, United States. |
| Is Zilliz publicly listed? | No, Zilliz is a private, VC-backed company. |
| How much funding has Zilliz raised? | Zilliz has raised $113M across 3 funding rounds. |
| What was Zilliz's last funding round? | Zilliz's last funding round was a $60M Series B in August 2022, led by Prosperity7 Ventures. |
| Who are Zilliz's investors? | Zilliz's investors include Yunqi Partners, 5Y Capital, Hillhouse Investment, Pavilion Capital, Eminence Ventures, Trustbridge Partners, Prosperity7 Ventures, Morningside Venture Partners and Green Pine Capital Partners. |
| Which companies are comparable to Zilliz? | Companies comparable to Zilliz include Snowflake, Dataiku, Origin Quantum, Certus Core, TRS Information Technology and Airship AI. |
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