# MindsDB

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mindsdb

- Industry: Software
- Headquarters: San Jose, US
- Website: www.mindsdb.com
- Total disclosed funding: $49M
- Latest round: Seed (Aug 8, 2023)
- Investors on record: 10

## About

Based in San Jose, US, MindsDB, Inc. is a pioneering software company specializing in AI data automation solutions that enhance data integration and analytics for enterprises, facilitating informed decision-making.MindsDB, Inc. was founded in 2017 in San Jose, California, focusing on AI-driven data automation. The company was co-founded by Adam Carrigan and Jorge Torres, with Jorge Torres serving as the CEO. MindsDB has successfully raised a total of USD 5.00 mn through multiple funding rounds, with the most recent being a Seed round completed on August 8, 2023, where they secured USD 5.00 mn from investors including Benchmark, Mayfield Fund, OpenOcean, Walden Catalyst, and Y Combinator.MindsDB specializes in AI data automation solutions that facilitate the integration and analysis of disparate data sources, enabling real-time analytics and decision-making for enterprises. Their core offerings include over 200 data connectors, which unify structured and unstructured data from various applications, databases, and file systems. The platform's key technology, termed 'Cognition,' is designed to understand complex queries, retrieve pertinent information, and deliver actionable insights while maintaining transparency in its operation. This approach caters to a diverse clientele, ranging from global enterprises to innovative startups across industries such as finance, healthcare, and technology. MindsDB's solutions have gained traction in markets including North America, Europe, and Asia-Pacific, effectively addressing enterprise needs for comprehensive data analytics and improved workflow efficiency.MindsDB generates revenue through a subscription-based model for its AI data solutions, engaging in direct-to-business transactions with clients ranging from large corporations to emerging tech companies. The company's pricing structure includes various plans that accommodate different organizational needs, emphasizing enterprise-level support and service delivery. Flagship products, such as the Knowledge Base with dynamic updates and the Federated Query Engine, are integral to their offerings, enabling customers to leverage AI capabilities without extensive IT overhauls. Through this transactional framework, MindsDB fosters long-term partnerships and provides ongoing maintenance and optimization services, ensuring clients can efficiently scale their AI applications. The revenue model is built around providing value-driven solutions that enhance operational outcomes for organizations engaged in complex data management.In August 2023, MindsDB, Inc. raised USD 5.00 mn in Seed funding led by NVentures, which will be utilized to expand operations and enhance its business reach. The company plans to design and launch new products aimed at improving data automation capabilities, though specific release dates have yet to be disclosed. Additionally, MindsDB is targeting expansion into new geographic markets, with a focus on increasing its presence in Europe and Asia-Pacific over the next two years.

## Funding rounds

- Seed, Aug 8, 2023, $5M — Benchmark, Mayfield Fund, Walden Catalyst, OpenOcean, Y Combinator
- Seed, Feb 7, 2023, $17M — Benchmark
- Seed, Nov 23, 2022, $24M — Mayfield Fund, Balderton Capital, TQ Ventures
- Seed, Nov 1, 2021 — Walden Catalyst
- Seed, Apr 16, 2020, $3M — OpenOcean, Berkeley SkyDeck Fund, Rogue Capital, SCM Advisors

## Investors

- OpenOcean (https://capitalatlas.ai/funds/openocean) — Seed
- Berkeley SkyDeck Fund (https://capitalatlas.ai/funds/berkeley-skydeck-fund) — Seed
- Rogue Capital (https://capitalatlas.ai/funds/rogue-capital) — Seed
- SCM Advisors (https://capitalatlas.ai/funds/scm-advisors) — Seed
- Walden Catalyst (https://capitalatlas.ai/funds/walden-catalyst) — Seed
- Mayfield Fund (https://capitalatlas.ai/funds/mayfield-fund) — Seed
- Balderton Capital (https://capitalatlas.ai/funds/balderton-capital) — Seed
- TQ Ventures (https://capitalatlas.ai/funds/tq-ventures) — Seed
- Benchmark (https://capitalatlas.ai/funds/benchmark) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed