It’s been one year since we announced the rebrand to SingleStore and we’ve never looked back. In this post, CEO Raj Verma summarizes the company’s biggest achievements and milestones over the last year.
What a Year!
It’s been exactly one year since we announced the rebrand to SingleStore and we’ve never looked back. Last year, I predicted that more and more enterprises would embrace the cloud, and again, the pandemic accelerated that in more ways than we expected. There’s been a whirlwind of activity and I couldn’t be happier to see all the momentum for SingleStore in such a short amount of time.
Our product has evolved and is now available on all public clouds and marketplaces, accounting for almost 25 percent of our business, while our managed services make up 40 percent. We have more than 225 customers, up 60 percent from just last year. Our customers by and large love us and various review sites prove it including Capterra, Gartner Peer Insights and Trust Radius.
We’ve gone from 200 employees to nearly 300 and we’re not done growing. We’ve hired top talent and built out a strong executive team: a chief revenue officer, chief innovation officer, and chief marketing officer. Our community is also flourishing with help from our recent international expansion into EMEA and Latin America. A vice president and managing director of EMEA joined our team as well as a vice president of international presales. Last Summer, we forged a new partnership with Latin America Business Consulting (LATBC) as the exclusive reseller for SingleStore in Mexico, Central America, and the Caribbean.
On a diversity and inclusion front, we know that society and businesses benefit when we do a better job at addressing issues and work to eliminate bias. We’ve tried hard to understand the barriers people of color face in attaining and retaining job opportunities. This work is so important, especially as the COVID-19 pandemic has only increased the challenges that people of color face in the job market. As such, we’ve expanded our efforts by establishing the new role of director of employee engagement, diversity and inclusion, allowing us to put more intention behind how we invest in creating a more inclusive workplace, drive awareness and create impact. We also plan to continue to support STEM educational programs that are building a pipeline of female engineers like Girls Who Code. Social responsibility is based on equality, love and tolerance. As contributing members of society, we all have to embed these values into the very fiber of our existence – we’ll always be vocal about where we stand on equal rights and justice for all, no matter what.
Big Achievements and Milestones
While it may be impossible to cover all of what we accomplished in the past year, I’m excited to share a quick summary of some of the other top achievements and milestones:
- We secured an \$80M Series E Funding Round Led by Insight Partners Our investors have been a big reason why we’ve been able to increase our market presence, expand our engineering teams around the world, and grow our international customer base.
- We opened a brand new Raleigh office & Launch Pad Innovation Center The new office has allowed us to tap into the technology talent and a knowledge base in the Raleigh area to become a vital part of this vibrant community and act as a catalyst for technology innovation.
- We earned the SOC 2 Type 2 Certification System and Organization Control (SOC) 2 Type 2 designation is a big deal in the world of SaaS. It is a recognized technical audit for service organizations, SOC 2 Type 2 requires companies to establish and follow strict information security policies and procedures. This certification validated SingleStore as a trusted SaaS provider.
- We were recognized and won industry leading awards
- We closed another \$80M Series F Funding Round Led by Insight Partners We had a 300%+ increase in new customer acquisition for our cloud service and 150%+ year-over-year growth in cloud revenue, which led to raising a new round to continue to power innovation and growth. This round of funding also included new investments from Dell and HPE.
The Future Looks Bright
Looking ahead, it is clear that having data in the cloud will not be sufficient to manage data-intensive workloads. Compute must come to the data, and organizations will be faced with an urgent scramble to rethink data strategies as the need for immediate answers becomes the norm. That’s why we’re committed to providing the world’s fastest database for data-intensive applications, and will lead the way among a new class of modern databases which are distributed, cloud-native, multi-model, and have a relational SQL foundation.
We have come a long way but we will remain humble and stay hungry, realizing that as we grow, so do the challenges. There’s plenty of rewarding work to be done so if you are interested in joining SingleStore, please explore our career opportunities.
I continue to be amazed at some of the work our colleagues at SingleStore do- their passion, their commitment and the unrelenting resolve to change the data landscape of the future. I am both grateful and humbled to be part of this team. A big thank you to all our customers whose support and encouragement has brought us here and set us on a trajectory of growth. We will never rest and will earn your business every single day!
Cheers to another exciting year ahead and may we all live in exciting times- let’s not forget it’s still DAY ONE!
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