SingleStore builds SingleStoreDB, a cloud-native distributed SQL database that combines transactional and analytical workloads to support real-time, data-intensive applications. The product is used by companies across verticals, including Hulu, Uber and Comcast, to deliver superior customer experiences and enterprise intelligence. SingleStore recently integrated with SAS Viya and received recognition from Dresner Advisory Services and TrustRadius, and was included on the Inc. 5000 list. The company has nearly doubled its headcount in the past 12 months and expanded geographically with offices in Ireland, Singapore and Australia. It also hired Sanjay Aurora as Senior Vice President of Marketing to support growth and go-to-market efforts. SingleStore announced it closed a $146 million F-2 financing led by Goldman Sachs and welcomed Prosperity7 as a new investor. SingleStore develops SingleStoreDB, a distributed SQL database that unifies transactional and analytical workloads to support data-intensive, real-time applications. The company emphasizes speed, scale and high reliability across multi-cloud, hybrid and on-prem environments. Recent product releases aim to enable fast, interactive applications at scale and in real time, showcased at its virtual launch event [r]evolution 2022. SingleStore has announced partnerships and product integrations, including a co-launched SingleStoreDB with IBM and a partnership with SAS to deliver faster insights at lower cost. The company has almost doubled its headcount in the past 12 months and is aggressively hiring to meet demand. Recent C-suite additions — a new CFO and general counsel — are positioned to support future growth initiatives. SingleStore offers a cloud-capable, real-time database platform that unifies transactions and analytics across multiple data stores so enterprises can query and manage data as a single entity. The company aims to position its platform for intensive data applications and to help customers consolidate multiple legacy databases into one. SingleStore plans to use the new funding to continue investing in its platform, hire talent, and expand its business. Its cloud business is accelerating: cloud revenues grew more than 150% year over year and now represent roughly 40% of total revenues (up from 10% a year ago). New customer acquisition for its cloud service increased by more than 300%, and the company reports thousands of enterprise customers including GE, IEX Cloud, GoGuardian, Palo Alto Networks, EOG Resources, and SiriusXM + Pandora. The company rebranded from MemSQL and has attracted strategic partnerships and integrations with AWS, Microsoft Azure, Google Cloud Platform, and Red Hat. SingleStore provides a SQL-based, cloud-native database platform designed to manage and analyze data that lives in silos across multiple cloud and on-premise environments, enabling use cases like real-time reporting, fraud prevention, fast dashboards, and data warehouse augmentation. The company rebranded from MemSQL to SingleStore in October and emphasizes support for diverse data types without workload segmentation. Alongside the new financing SingleStore announced a formal partnership with SAS to integrate its database with SAS Viya for demanding machine-learning and analytics workloads. CEO Raj Verma said the round came from inbound interest and that the company plans to use the funds for hiring, R&D, business development and potentially M&A. SingleStore reports thousands of enterprise customers and named recent customers including GE, IEX Cloud, GoGuardian, Palo Alto Networks, EOG Resources, and SiriusXM + Pandora. The company faces competition from major cloud and database providers such as Amazon, Microsoft, Snowflake, PostgreSQL and MySQL. MemSQL provides a relational, real-time database designed to ingest millions of events per day and allow users to query records in real time, targeting use cases across cloud, hybrid and on-premises deployments. The company highlights a hybrid architecture and claims speed improvements of roughly 30x versus legacy systems, positioning itself against incumbents like Oracle and SAP. Customers include major banks, telecom carriers, mapping providers and enterprise users; previously named customers include Uber, Akamai, Pinterest, Dell EMC and Comcast, and firms like True Digital have built contact-tracing apps on the platform. Financially, MemSQL reported annual recurring revenue of $40 million, grew 75% in the most recent year (200% in 2018), and had cash burn in the single digits, roughly $8–9 million in the prior period. Management says the company is well-capitalized for several years and is on a path toward an IPO or a potential private-equity exit.

Total raised

$580M

Funding rounds

11

Latest round

Series F

Latest activity

Oct 2022