Pinecone Grows with Tech Leaders Lauren Nemeth as New COO and Bob Muglia as Fifth Board Member

News provided by

Jun 03, 2024, 09:00 ET

High-profile additions to Pinecone leadership team mark next phase of expansion for knowledge AI market front runner

NEW YORK, June 3, 2024 /PRNewswire/ -- Pinecone, the leading vector database company making knowledgeable AI, today announced that well-known and proven tech leaders Lauren Nemeth and Bob Muglia join the company as chief operating officer (COO) and board member, respectively. This comes as Pinecone celebrates its five-year anniversary and the recent general availability of its flagship offering, Pinecone serverless, a state-of-the-art vector database designed to make generative artificial intelligence (AI) accurate, fast, and scalable.

As the demand for generative AI has rapidly grown across organizations of all sizes and industries, so has the need to deliver more accurate and reliable applications. Pinecone research shows that the most effective method to improve the quality of generative AI results and reduce hallucinations is by using a vector database for retrieval-augmented generation (RAG). Gartner® predicts that "by 2026, more than 30% of enterprises will have adopted vector databases, which is a significant increase from fewer than 2% today" and "more than 70% of generative AI natural language processing (NLP) use cases for questions and answers, will leverage vector databases to 'ground' the AI foundation models."¹

The addition of Lauren Nemeth as Pinecone COO will catalyze the company's mission to build and bring knowledgeable AI to organizations around the world. Lauren brings over twenty years of experience building world-class developer- and enterprise-led sales motions from pre-revenue to public companies such as Twilio, AppNexus, and Google. In her role as Chief Operating Officer for Pinecone, Lauren now leads the Sales, Field Engineering, Marketing, Growth, and Partnership functions globally. Lauren most recently served as the Chief Revenue Officer at Twilio where she led all go-to-market functions globally, directly managing a team of two thousand employees and generating over $4B in revenue.

"I have spent the majority of my career helping developers and enterprise companies innovate," said Nemeth. "Pinecone is already the leading vector database but there are still so many companies we can help build truly innovative generative AI experiences. I look forward to working closely with our customers, prospects, and partners to deliver meaningful business impact and improved customer experiences."

Bob Muglia is no stranger to Pinecone in his capacity as an investor and advisor. He now joins as a member of the board alongside Peter Levine, Andreessen Horowitz; Ilan Stern, 166 2nd; Tim Tully, Menlo Ventures; and Peter Wagner, Wing Venture. A seasoned technology investor and business executive, Bob is a former CEO of Snowflake and past president of Microsoft's Server and Tools Division. As an author and a leader, Bob focuses on how innovation and ethical values can merge to shape the Data Economy's future in the era of AI.

"I have witnessed Pinecone mature up close and believe now, more than ever, in its future as a pivotal player in the AI ecosystem," said Muglia. "As an industry, we have barely scratched the surface of what generative AI has to offer. Pinecone is delivering state-of-the-art capabilities that enable companies to deliver the safest and most accurate AI possible. I'm thrilled to join the Board and expand my role at Pinecone."

Founded in 2019 by Edo Liberty, a former research director at AWS and head of Amazon AI labs, Pinecone has over 5,000 customers spanning the globe. The company is headquartered in New York City and has offices in Tel Aviv, Manchester, and San Francisco where Nemeth and Muglia are based.

"It's a real testament to the importance of Pinecone's mission that Lauren and Bob joined the team," said Edo Liberty, founder and CEO of Pinecone. "Their track record of success speaks for itself. I am delighted to have people of their caliber and integrity around the table. They will help us grow and accelerate our journey to make knowledgeable AI."

About Pinecone

Pinecone created the vector database to help engineers build and scale remarkable AI applications. Vector databases have become a core component of GenAI applications, and Pinecone is the market-leading solution with over 5,000 customers of all types and sizes across all industries. Pinecone has raised $138M in funding from leading investors Andreessen Horowitz, ICONIQ Growth, Menlo Ventures, and Wing Venture Capital, and operates in New York, San Francisco, and Tel Aviv.

¹ Gartner, Innovation Insight: Vector Databases, Arun Chandrasekaran, Radu Miclaus, 4 September 2023

Logo - https://mma.prnewswire.com/media/2418074/Pinecone_Systems_Inc_Logo.jpg

SOURCE Pinecone Systems Inc