Cloud-native database developer Singlestore secures $146 million financing to drive growth

SingleStore, the cloud-native database built for speed and scale to power data-intensive applications, has announced it has closed its F-2 round of financing at $146 million, led by Goldman Sachs.

SingleStoreDB empowers businesses to deliver superior real-time experiences by unifying transactions and analytics in the same engine – with fast, cost-efficient and powerful results. Leading companies across nearly every vertical around the world use it to drive better customer experience and enterprise intelligence.

Raj Verma, CEO, SingleStore: “Business happens in real time. Today’s organizations demand real-time data and immediate insights that empower them to make fast, informed decisions. That requires a modern data infrastructure that only SingleStore’s cloud-native database can deliver. I am excited to announce this funding, and I’d like to thank all of our investors. I look forward to applying these funds to fuel SingleStore’s continued growth and strategic initiatives.”

This funding comes on the heels of SingleStore’s recent onboarding of Senior Vice President of Marketing Sanjay Aurora. Aurora brings decades of sales and marketing experience at high-growth software and SaaS companies. SingleStore also announced its product integration with SAS Viya earlier this summer, was recognized by Dresner Advisory Services and TrustRadius and was included on the Inc. 5000 list.

SingleStore also welcomed Prosperity7 as a new investor as part of its F-2 funding round.

We thank Prosperity7 for coming on board as a new investor of SingleStore. We appreciate its vote of confidence and look forward to embracing this new relationship with such a respected company."

Aysar Tayeb, executive managing director, Prosperity7: “SingleStore provides a truly unique solution to address the challenges most organizations have been facing in dealing with rapidly growing data. The company is addressing both databases and analytics through a very efficient system that is fully scalable on-premises, within a cloud and across multiple clouds. SingleStore continues to demonstrate clear market and technology leadership. With the company’s outstanding team and great execution, we believe SingleStore’s competitive advantages and value add will continue to grow in the coming years.”

SingleStore has nearly doubled its headcount in the past 12 months, expanded geographically with offices in Ireland, Singapore and Australia, and continues to hire to meet the demand for its products and services.

www.singlestore.com