Author
Raj Verma
CEO
Company
Mental Health Awareness Month and the Responsible Role of Technology
In February, I read a sobering article. Headlined “Teen Girls Report Record Levels of Sadness, C.D.C. Finds,” the piece described the high rates of persistent sadness, depression and suicidal thoughts reported by girls as well as lesbian, gay and bisexual teenagers. The article also pointed to the connection between social media use and negative mental health. This made me pause. I reflected on the socio economic and political difficulties of the past few years, and the role technology plays in mental health. As a father of four with two teenage daughters, the protector in me wondered how these complex issues could be solved. In May, we observe Mental Health Awareness Month. I believe this is a key opportunity to encourage understanding and reduce stigma around mental health. In 2021, 57.8 million U.S. adults experienced mental illness. That’s 1 in 5 adults! What can be done to reverse this trend? I have dedicated my life to technological innovation, and believe it is extremely important to explore how technology can damage mental health and how it can be used to instead benefit mental health. We, myself included, must examine ways our industry can make stronger efforts to mitigate the harms and increase the benefits. Technology has made an immeasurable contribution to our modern lives, transforming everything from transportation to communication to entertainment, and much more. I believe it has also done a lot good for mental health treatment. Digital health services, including telehealth services, have increased access to mental health care, with studies finding similar outcomes for in-person and virtual therapy. This is a boon for people who live in communities where there are a dearth of local mental health professionals, and for people whose otherwise hectic schedules may not allow them to visit an in-person care center. Access to telehealth was especially important during the COVID-19 pandemic. A scientific brief released by the World Health Organization found that in the first year of the pandemic, “global prevalence of anxiety and depression increased by a massive 25%”. Similarly, the NYT report I previously referenced also noted the negative impact long periods of social isolation had on young people’s mental health during the pandemic. Lockdowns and social distancing, which reduced the spread of the virus, also induced feelings of loneliness. Technology and social media served as tools to combat that. Who could forget the viral “dance challenges” that kept us active, the television shows that kept us entertained and the many, many hours spent talking with family, friends and colleagues on video chat platforms. In short, it was our tech that kept us connected during one of the darkest times in recent memory – and still keeps us connected to this day. However, one study noted that while routine social media use can have positive outcomes on social well-being, positive mental health and self-rated health, having an emotional connection to social media is negatively associated with these areas. An emotional connection includes “checking apps excessively out of fear of missing out” and “being disappointed about or feeling disconnected from friends when not logged into social media.” This is only exacerbated by the fact that social media platforms are designed to be addictive for users. Other phenomena such as cyber-bullying and repeated exposure to unrealistic and unhealthy beauty standards are other ways social media can be toxic. The pandemic also underscored how digitally spread misinformation can take a deadly toll on mental and physical health. What can be done? I don’t believe the solution is to ban social media or tech innovation. However, we must hold industry leaders accountable to developing solutions to these rampant problems. We cannot allow them to focus solely on the number of users engaging with their platforms while ignoring the social ills that are also developing.One key solution should be to encourage tech firms to implement features to stop and/or contextualize the spread of misinformation, hateful content and bullying. Companies should partner with mental health professionals to identify the specific ways their platforms can possibly harm mental health and determine ways to mitigate and reverse it. Furthermore, tech firms should be aware of bias in their algorithms, especially on the basis of sex and race. Similarly, tech firms should focus on improving diversity in their employee base. As I’ve previously discussed, there is a significant gender gap in STEM fields, as well as a lack of racial diversity. A 2019 report noted, “The AI field, which is overwhelmingly white and male, is at risk of replicating or perpetuating historical biases and power imbalances.” If tech is to be used by everyone, tech firms need to ensure that people from all backgrounds are represented in its development. I am glad to report that we at SingleStore, have taken some steps in accessibility of mental healthcare resources like offering our employees both free therapy and coaching sessions through Modern Health. We also offer mindfulness and meditation resources focused on both work and non-work related topics.Solving complex problems surrounding mental health will not happen overnight. Yet I do believe that with determination and prioritization, we can achieve great improvements from where we are today, to ultimately save lives and ensure positive outcomes for all.If you or a loved one would like to access mental health resources, visit https://mhanational.org/get-involved/contact-us.
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International Women’s Day 2023: Embrace Equity
Today marks International Women’s Day — a time to celebrate women across the world while also reflecting on the steps we must take to reduce the inequities women face.First and foremost, I would like to extend a huge thank you to all the women who are a part of the SingleStore team. Your brilliance, dedication and hard work are critical to SingleStore thriving, and I am grateful to each and every one of you. Thank you.While this International Women’s Day (IWD) is a time for celebration, I believe it must also be a time to reflect on the ways we can create a better world for women. That’s why I’m thrilled that the theme for this year’s IWD is #EmbraceEquity.There’s an important distinction between equity and equality — while equality refers to ensuring everyone has equal access to resources and opportunities, equity “recognizes that each person has different circumstances, and allocates the exact resources and opportunities needed to reach an equal outcome.”In a nutshell, equity is about seeing where systemic gaps lay and acting to eliminate them. We know that the tech industry is rife with significant gender gaps — women only make up 27% of the workforce in STEM careers. A pay gap also exists — the median earnings of women in STEM jobs are approximately 74% of men’s median earnings in the same fields. Unfortunately, this pay gap in STEM careers is even wider than the gender pay gap in the broader labor market.These statistics are a result of biases and structures that deter women from pursuing STEM careers – and we see these everywhere. Gaps begin in education, where stereotypes about “women’s work” encourage girls to shift away from math and science. As a father of two daughters, I’ve noticed this tendency firsthand. My wife and I have worked hard to ensure that our girls know that they have the right and ability to excel in any any field they’re interested in. We know this is important, because when young women are discouraged from studying STEM, it leads to work environments that are male dominated and creates underrepresentation of women in tech. And thus, a vicious cycle continues.I wholeheartedly believe we can reverse these trends and design a more equitable future. This is especially important in tech, as we are building solutions to change the world. Tech itself will be more powerful and transformative when creators are more diverse and design it with a lens of equity and inclusion.I am committed to implementing pathways to further equity for women and other underrepresented groups in STEM at SingleStore. I am proud to say that this fiscal year, SingleStore's DEI Alliance will be focused on finding organizations within the non-profit space that we can invest in and partner with to further the inclusion of women and non-binary talent in tech. My family and I believe that making an investment of time and money in underserved communities is a responsibility and privilege, and I encourage my network to view it with the same lens.I am excited to announce that SingleStore will also be hosting a collaborative panel with industry leaders on how the rise of AI and automation will impact equity and justice. The panel will convene on March 27th and be streamed on LinkedIn Live. Panelists include:Nashlie Sephus, PH.D., Principal AI/ML Specialist AWSMaritza Johnson, Director for the Center of Data Science, AI, and Society at the University of San DiegoNatasha Seelam, Senior Deep Learning Engineer/Scientist @ Sherlock BiosciencesThis International Women’s Day, I hope we all take proactive measures to make this world more equitable. I look forward to our panel and – more importantly – to all the continued opportunities to learn from the incredible women who are part of the SingleStore team.
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Stay Hungry, Stay Foolish on Highway 101: How SingleStore “Sleighs” the Streets With Real-Time Creativity & Innovation
Here at SingleStore, we’re an organization comprised of results-oriented individuals. It’s also true that we like to have fun and tap into our creativity.
In doing so, we’ve figured out how to not only get outstanding results, but do it through a process that sparks the utmost creativity and thoughtfulness — something that is woven into nearly every aspect of this company, from marketing to engineering to our overall culture.
It reminds me of the speech given by Steve Jobs, where his advice was to “stay hungry, stay foolish.” It’s the inner hunger and passion that is our drive for results — while the ability to not take ourselves too seriously allows us to enjoy the journey.
Marketing with Intent and Purpose
One of the ongoing marketing campaigns near and dear to my heart is the work we have done with our billboards. While the messages have varied given the time of year — whether it’s Pride month, the start of the football season, during the holidays or when we’ve launched a new product — it’s an area that has allowed us to truly show passion, playfulness and express some cheeky humor.
When customers mention to me that they spotted one of our billboards off Highway 101 in the San Francisco Bay Area, it brings me great joy, because these billboards reflect the passionate drive and courage to be foolish that permeates the ranks of our company.
I hope our billboards inspire your own way of thinking and working in your organizations. Here are a few of our favorites from this year:
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7 Reasons Why 2022 Has Already Been a Big Year for SingleStore
SingleStore has had a blockbuster first half of 2022, despite uncertain times for business and the economy as a whole.
1. We closed a funding round of $146 million
Our Series F-2 round, led by Goldman Sachs and joined by new investor Prosperity7, is the latest sign of our success. Closing the round provided $146 million, ensuring a solid financial foundation as we move forward with product development and innovation; accelerating sales, international expansion; and other strategic initiatives.
2. We increased value and capabilities for our customers
Above all else, we are passionate about adding value for SingleStore customers by delivering new capabilities. At our 2022 summer product launch event, we unleashed expanded capabilities to address real-time applications and workloads. These capabilities now empower SingleStore users with a whole new level of ease of use, efficiency, optimization, performance, resilience, scalability, security and speed.
3. We expanded our customer base
Our growing base of customers attests to the fact that smart enterprises clearly understand the value that SingleStore delivers. In August of this year, we announced Captain Metrics, DataDock Solutions, tech giant Dell Technologies, Digital Asset Research, Foodics, impact.com and Thentia as SingleStore customers. These forward-thinking, industry-leading companies are leveraging SingleStore’s superior database performance and real-time insights to enable a range of advertising, customer service, food services, financial services and technology use cases.
4. We have proof: SingleStore delivers more for less
Third-party research published this year revealed that SingleStore provided greater value at a far lower cost than the competition. A GigaOm benchmark study demonstrated that SingleStoreDB — which uniquely combines transactional and analytical workloads in a single unified engine — delivers a 50% lower total cost of ownership (TCO) compared to the combination of MySQL and Snowflake and a 60% lower TCO than the combination of PostgreSQL and Redshift.
5. Our customers love us and we have awards to prove it
Additionally, we are honored to have earned a variety of awards this year. The Dresner Advisory Services 2022 Industry Excellence Awards categorized SingleStore as an overall Leader in Analytical Data Infrastructure (ADI). And the TrustRadius Best of Summer 2022 awards recognized SingleStore for its value, feature set and relationship in relational databases.
I’ve said it before, and I’ll say it again: The only awards that truly matter are those that reflect the voice of the customer. That’s why these two awards are particularly significant for us.
6. The SAS Viya integration with SingleStore launched
The SAS and SingleStore engineering teams have been working to pioneer a first-of-its-kind integration that addresses key aspects of the data movement challenge. The SAS Viya with SingleStore integration uses a streaming protocol to reduce data movement and replication. This ultimately lowers cloud computing costs. SAS has integrated their analytic embedded process engine (EP) into SingleStore’s distributed database for best in class analytics and real-time performance. These are deep technical innovations that enable customers to have an excellent experience. Curious? Try it for free.
7. Our leadership and diversity is growing
With the addition of Sue Bostrom to our board, I’m excited to continue to keep adding amazing talent to our leadership. Diversity has been top of mind for us and we value people from all walks of life and experiences. I commend the progress we have made but we have a lot more work to do in our diversity, equity and inclusion efforts. We are committed to being seen as an example in the industry.
Bonus: The year isn’t over yet!
Our opportunities to serve customers and win new business only continue to grow.
Real-time analytics will be a trend throughout 2022, into 2023 and beyond. In today’s digital services economy, the world is full of businesses that are now service providers. Those businesses need a distributed, relational, cloud-native, multi-cloud, multi-model database to address the growing volume, velocity and video of data and today’s data-intensive applications.
Businesses will use data and analytics to help alleviate persistent supply chain challenges. And more organizations will use SingleStore to manage point of sale, product inventory and logistics data in a single, scalable database to get real-time visibility and do optimization and forecasting.
E-commerce and retail organizations, among others, will also increasingly employ modern data management to optimize interactions with customers. With SingleStore, companies can provide customers with personalized experiences using real-time segmentation, attribution and smart recommendations. Businesses can also drive sales with customer overlap analysis using converged real-time data and historical analysis in our single, SQL-accessible database.
Going forward, machine learning and artificial intelligence will become even more essential. Growing adoption of these technologies will also equate to a growing need for SingleStore because legacy and stitched-together databases can’t meet growing real-time demands.
We are excited to work with our great customers and investors, who are helping us to spread the word about our singular, innovative approach to data-intensive applications. And we look forward to heading into the fourth quarter — and soon, a new year — even stronger than before.
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A Moment (or Two) to Celebrate as SingleStore Makes a Big Announcement
Amidst an otherwise challenging year due to world events, I am thrilled that SingleStore’s results thus far have been outstanding, and we now have even more to celebrate.
Today, we announce a new round of funding in the amount of $116M led by the beacon of financial institutions, Goldman Sachs Asset Management. We also welcome Sanabil Investments, who joined this round as a new investor, and we’re thrilled to have participation from existing investors whose continued investment speaks to their belief in the company’s value and growth. With this funding, we have raised $278 million over the last 20 months, and our valuation is upwards of $1.3 billion. We are truly at unicorn status!
We continue to strengthen our executive team as well, and I am very pleased with the tremendous talent and experience we’ve added to SingleStore’s leadership. Earlier this year, we announced that Shireesh Thota joined as SVP of Engineering, alongside Yatharth Gupta, VP of Product Management — two very impressive hires for us. Our new chief financial officer, Brad Kinnish, came on board at the beginning of June, joining us as we finalized the details of this latest round. And today, we announced that Meaghan Nelson joins us as General Counsel. I cannot emphasize enough how strategic these new leaders are for SingleStore, and how excited I am to see what we can accomplish together.
It really has been a year of accomplishment for SingleStore, and it’s only July. We kicked off 2022 by partnering with industry leaders IBM and SAS to accelerate insights for real-time, data-intensive applications and reduce total cost of ownership (TCO) for our joint customers.
And our claims are validated. We conducted a TCO study with GigaOm that revealed our unparalleled performance in the industry. Results show that SingleStoreDB delivers a 50% lower TCO against the combination of MySQL and Snowflake and a 60% lower TCO compared to the combination of PostgreSQL and Redshift.
While we’ve received many accolades and industry awards, there is one in particular I want to call out. In May 2022, we were honored to have won four top-rated categories from TrustRadius, the verified site for the users of technology to provide reviews. We won because our users reviewed us and shared amazing stories about how much they love using our technology. Thank you to all who shared your excitement about what you can accomplish with SingleStore.
All the above speaks to our upward trajectory in the database space even as we notice broader shifts in the industry. In the last few weeks, we’ve seen database companies like Snowflake and MongoDB make announcements about plans to update their capabilities to support transactional and analytical data to keep up with market demands. We can certainly understand why these worthy competitors want to head in this direction. We think it’s great that they understand the shifts in the industry, and we appreciate the renewed attention their announcements put on the importance of having both transactional and analytic capabilities in one database, something that we embraced from day one.
It’s pretty hard to take a gasoline powered car and turn it into an electric one by strapping on a new engine. It doesn’t work, at least not well. The Tesla had to be designed as electric from the get go. The fact is, SingleStore has realized from the beginning that one database for both transactions and analytics is the only way to achieve fast results. It’s what we were designed for. The future demands real time, and we have empowered customers to do real-time streaming, operational and analytical processing using a single, general-purpose, modern, cloud-native database for several years running now. We have a fantastic product, and we are already leading the way in real-time analytics.
But we are not resting on our laurels. We will invest time and resources to innovate more and even faster — like our collaboration with Intel. Working together, we will optimize the performance of SingleStoreDB on current and future Intel architectures so our customers can handle new levels of data intensity with real-time analytical and transactional workloads.
If you are curious to learn more about what we’re up to, please join us on July 13 when we host [re]volution 2022, our launch event that includes customer use cases involving data intensity, live product demos and much more. See you there.
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Celebrating PRIDE Month
As I’ve said before, we all deserve to be loved, and all forms of love should be celebrated today, during PRIDE month, and always.
We’ve been through a lot in 2022. We’ve witnessed grave injustices based on economics, ethnicity, gender and sexual orientation —here in the U.S. and worldwide. And right now, it’s crucial to take a stand for all of our communities and build a more loving and inclusive society.
For this year’s PRIDE month, I want to speak about how we, as a collective workforce, can make a conscious effort to ensure we are working together and creating workplaces that support equality, love and tolerance.
What we can do to better our workplaces
We’ve come a long way, but there is still a lot to be done for the LGBTQ+ community. I implore everyone — myself and my staff included — to continue developing inclusion efforts to ensure everyone is bringing their best selves to work. Consider these small but essential steps we can take now:
Learn and educate ourselves on the latest terminology. The Human Rights Campaign Foundation has a report on talking about pronouns in the workplace and a glossary of terms that can help us all better understand and communicate about gender identity and sexual orientation.Realize that awareness of people’s preferred pronouns is important. Consider adding a section to your email signatures to include personal pronouns. That way, everyone with whom you and your teams interact can be better informed and conscious of pronouns.Provide training. Numerous resources are available at LGBTQ+ Workplace Education Center for how to support LGBTQ+ colleagues, including e-training modules on creating respectful workplaces that employees can take.Establish allies and personnel groups specific to inclusion. Establish groups or appoint interested advocates to lead the charge in creating a culturally responsible environment. At SingleStore, we’ve established a new role: director of employee engagement, diversity and inclusion. This allows for more intention to be put behind how the company invests in creating a more inclusive and impactful workplace.
Towards a greater good
As I’ve said, this is a “we” proposition. The CEO can set the course and lead by example, but the whole team is needed to do the heavy lifting. Each individual has a personal responsibility to embrace and routinely practice ethical behaviors in the workplace. One of SingleStore’s core pillars states that we will work with the best and most diverse minds because we believe this approach creates the brightest and most forward-thinking teams.
“Together” is the only way we can make our workplace inclusive for LGBTQ+ individuals and other minority groups, and inspire them to have a voice.Let’s continue the fight for equality and inclusion, in the workplace and in our lives, and remember that love is love. And love conquers all.
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Future of Work Conversations Are Nothing New, but This Time It's Definitely Different
The future of work conversation is not really new. This conversation has been going on for quite some time.
Remote work, or the concept of being able to work from anywhere, existed long before the pandemic. Over the years I have worked from a hotel room while on a family vacation or taken a call from my kids’ baseball game, school or swim meet more times than I can remember.
The difference this time is that the option of going to a workplace was taken away from many of us, suddenly and without warning. And for a lot of employees, that abrupt change has been extremely difficult to deal with for various reasons.
Of course, the primary purpose of an office is to provide a collaborative environment for emotional, intellectual, product and/or social collaboration. In-person interactions at the office serve to build camaraderie, enabling people to align on goals and participate in important group work. But for some employees, the office is also a key place for focus, deep thinking or getting individual work done.
I’m fortunate to have a home office. You may have one, too. But a lot of our colleagues may not have a proper work environment at home. For them, the office may provide uninterrupted quiet time and the room they need to get things done. They might also find the ability to take a break, say hello to a colleague, or walk five steps to get a coffee or tea to be quite meaningful.
I’m sometimes surprised at what people miss about coming into the office. A friend recently told me that he loves home-cooked meals, but he has also missed the cafeteria food at work.
When we were all going about our normal working lives, we had our coping mechanisms. You might have listened to the radio on your way to work. Perhaps you stopped by your favorite coffee shop during your morning commute. You may have grabbed a drink with friends after work. Or, maybe you went to a popular noodle shop with colleagues for lunch.
But now those routines are gone — or at least, altered. Some employers, like Microsoft, now plan to fully reopen their offices. But office reopening plans by Microsoft and many other businesses have shifted many times. Meanwhile, most of us are trying to find new approaches to confront what we need to do so we don’t need to rely on coping mechanisms anymore. I think mental health support is going to be critical for the wellbeing of employees, and for society at large going forward.
I recently read some cautioning words from medical professionals that really rang true to me:
“The COVID-19 pandemic has had a whole range of unexpected consequences, some of which, like increasing levels of mental distress, deserve better management – and, in some cases, immediate attention,” wrote Charles Alessi, MD and chief clinical officer at HIMSS, and Lene Sovold, clinical psychologist and mental health advisor. They added that: “There is no health without mental health, and it needs to be put on our agendas now more than ever.”
How we work contributes to our mental health, no question. That’s why being more mindful of how to organize work and collaboration is also more important than ever.
Today, and going forward, everyone needs to pay extra attention to what works for those in the office, and those who are remote. Finding new ways to connect, be inclusive and interact will be the product of this pandemic that sped up many changes that in some cases were already underway. The days of coming into the office five days a week from 9 a.m.-6 p.m. are gone. Hybrid work is here to stay. And it will require all of us to become more empathetic, flexible and mindful.
From San Francisco to Lisbon, SingleStore is always looking for more innovators to join our team — whether that’s from your home office, or one of our locations.
Explore open positions today.
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In Celebration and Recognition of Women
In celebration of International Women’s Day, I would like to share a few stories and reflections on the amazing women who forever changed the course of many lives through their courageous and loving actions, and especially mine.
Almost a century ago, my grandmother was born in India and orphaned at a very young age. While she was fortunate to be adopted, she never went to school. She married at 13, began her family and gave birth to my father at 18.
She vowed to give her children the gift of education, and despite limited resources, her tenacity prevailed. Every one of her children not only went to school, they earned master’s degrees, and this foundation changed everything for their generation and the one to come. What my grandmother accomplished 85 years ago paved the way for her great-granddaughter, my oldest daughter, to be enrolled in Berkeley business school today.
My grandmother also taught me about unconditional love, faith and courage, all of which she instilled in her children. When my father eventually married, he looked for someone like his own mother, so I am also blessed to have a wonderful mother. The powerful impact my mother has had on my life is evident in who I am today.
From the day I was born, my mother surrounded me with her care, nurtured me and poured her unconditional love into me. She showed me that I am worthy of respect, I am worthy to be loved, and I have value to offer myself and others. That unconditional love and sense of self-worth still envelopes me today, 51 years later. The foundation my mother provided to me gives me the strength and ability to strive to be the best I can be, to treat others with kindness, and to live my life with courage and passion.
Then there is my wife, who is an example of a modern woman of today. She was educated, left home at a young age to travel the world, got married on her terms, had a career, and then had children and opted to pause her career to care for her family — and was fortunate to have the ability to do so. While she has many responsibilities as the head of our household and caring for our four children, she also has more choices. She is the reason I am able to do what I love to do at SingleStore; she is the real MVP.
What I have experienced and learned from the women in my life directly correlates to who I am in my professional world. I often reflect on the definition of culture as, ‘what you practice, promote and permit.’ As the CEO of what I consider to be the best organization in the world, I am responsible for the overall well-being of our employees, for promoting a positive culture and ensuring we have zero tolerance for any behavior that is not equitable or inclusive. What better culture to establish than one that provides a safe, nurturing, challenging platform for growth — one that I would hope my daughters find when they begin their professional journey.
Being a father of two daughters provides me with a unique lens. These two young ladies give me a courtside perspective on the dreams, ambitions, challenges, fears and passions of my girls as they wait to take on the world. I picture them in a work environment, and they offer me a guiding light of what a modern day workplace should be — a place where they would feel safe, secure, heard, valued and loved. I will leave no stone unturned to pursue exactly such a place.
Celebrating the Amazing Women at SingleStore and Our Partners
To celebrate the amazing women of SingleStore, we are dedicating our March 30, 2022 All Hands meeting to a panel focusing on the achievements of women in the SingleStore ecosystem.
After I kick off the conversation, Veronica Combs of Tech Republic will moderate the panel, during which Rebecca Surendra, SingleStore’s commercial sales director; Bailey Hayes, our principal software engineer; Kathryn Cruz, director of engineering at Akamai; and Nellie Scott, senior manager of growth markets at SAS, will discuss their experiences, role models, struggles, suggestions and success stories.
I want to take this opportunity to thank all of the women at SingleStore. Women bring different perspectives to work, which makes us all better. We need your perspectives, your insights, your viewpoints and your brilliance. Thank you for all you contribute to SingleStore. I hope we can give back to you a fraction of what you give to us every day.
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Sharing My Gratitude for Our Team This Holiday Season
As we gather with friends and family for the holidays, I’d like to take a moment to congratulate and express my gratitude to our team. It’s their passion, skill, and talent that has led us to be recognized as one of the top places to work in the Bay Area and as a leading cloud database company.
This is the season for reflecting on the past, giving thanks for the present, and planning for the future. I’m appreciative of the community we have created, and over the past year I have seen the unwavering strength of our people and the staying power of our culture. I couldn’t be prouder. I’d like to take a moment and reflect on the blessings that I am most grateful for this year.
My friends and family
Everything I do, I do for my family. My children are my world; They motivate me to get up every morning and make the most out of every day. Like every family, we have our own ups and downs, but our home is always rich with love. And love is the greatest currency, in my opinion. I am truly blessed with an amazing family and network of supportive, beautiful friends.
Growth
Data is the foundation of accelerating growth and every business must become digital-first to remain competitive. SingleStore enables organizations to leverage data and insights in real-time and provide unprecedented value to themselves and to their customers. This year SingleStore has grown tremendously in many ways. We’ve been fortunate to attract and hire some very talented people. We hired a legal counsel, chief revenue officer, chief innovation officer, and chief marketing officer, all boosting our executive team leadership. Our community is flourishing with help from our recent international expansion into EMEA and Latin America. We also forged a new partnership with Latin America Business Consulting (LATBC) as the exclusive reseller for SingleStore in Mexico, Central America, and the Caribbean.
Just last month, SingleStore ranked No. 126 nationally and No. 37 in the Bay Area in Deloitte’s 2021 Technology Fast 500. This was a significant jump from last year when we ranked No. 488 nationally. The San Francisco Business Times also ranked us no. 35 in its annual list of the Fastest-Growing Private Companies in the Bay Area.
We announced \$82 million in new funding through a Series F round in September and saw a more than 300% increase in new customer acquisitions for our cloud service and more than 150% year-over-year growth in cloud revenue. I credit our highly performant, hybrid multi-cloud database and the ever-growing need businesses have to harness data and transform it into valuable insight for customers with this growth. But we’re just getting started. And cloud DBMS is a huge market with a long runway.
Our talented team
From our engineers who are heavily invested in writing the best code that powers SingleStore, to our dedicated sales team driving adoption of the technology with more than 225 customers and 12 of the Fortune 50 companies, to our newly formed marketing team ensuring we get recognized as leaders in this crowded space, I am beyond grateful to be surrounded by such an inspiring group. I continue to be amazed at all we have achieved, and I look forward to what the future holds.
Database analysts and thought leaders
This year, SingleStore was recognized and praised by prominent analysts, media and thought leaders. I was excited to see SingleStore debut in the Gartner Cloud Database Management Systems Magic Quadrant. This is crucial, as there are very few things that can provide more awareness than inclusion in the Magic Quadrant. The expanded awareness enables us to bring to a broader audience the message that when people try SingleStore, they love it. And our cloud product makes the SingleStore database easily available to a vast community of developers and other users.
This third party validation not only raises our profile but positions us as leaders in some really important conversations in the market like what it truly takes to be successful in this demanding digital services economy we live in. From large enterprises, to startups, to individual engineers, SingleStore is a technology that can revolutionize the way data is managed by decreasing IT complexity and database sprawl. This is a huge opportunity, as the era of specialized database types just won’t suffice in the data intense world we live in. Companies must adapt as we head into a new third era of database management technology, and SingleStore is at the forefront.
Our gracious customers, partners and investors
We would not be where we are today without the unwavering support of our customers, partners and investors. I’d like to thank all our customers who go above and beyond to share their stories on using SingleStore and write reviews raving about the technology – some of which have been cheering us on since the very beginning when we initially launched in 2011.
We were certainly thrilled to see that IBM invested in our Series F funding - just another proof point that SingleStore’s modern cloud database for data-intensive applications is the right solution at the right time. We look forward to working closely with IBM, as SingleStore continues to grow and bring new value to enterprises.
Closing up 2021, we officially signed on our largest partner deal with data analytics leader, SAS, and this is by far one of the greatest developments for us as a company. The integration of SingleStore’s fast, distributed, scalable, SQL-based cloud database into the analytics engine, SAS Viya™, will enable customers to be ahead of the digital services economy and at the forefront of analytics and decision making. I am proud of our team’s efforts on this partnership, and our recent results speak to the tremendous opportunity ahead of us.
2022 and beyond
In 2022 we will lead the way among a new class of modern databases which are distributed, cloud-native, multi-model, and have a relational SQL foundation.
But while I’m so unbelievably proud of this team, we can and should always strive to do better. I’d like to see us take on the challenge of increasing the diversity of our employees, not just at SingleStore, but in the software technology market as a whole. Given that, we plan to continue to support STEM educational programs that are building a pipeline of female engineers like Girls Who Code. We must make investing in educational opportunities for underrepresented groups, and giving back to others a top priority. I am looking forward to providing regular updates on all the great work being done by our new director of employee engagement, diversity and inclusion. Social responsibility is of utmost importance to me, SingleStore employees and our community. We must set an example for others to live up to.
I am extremely thankful for what all we have achieved this year. I wish everyone a very happy holiday season and a healthy new year.
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365 Days as SingleStore
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.
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SingleStore Stands With the LGBTQ+ Community
We all share the virtue of wanting to love and to be loved.
That’s a good thing. We should accept and celebrate love in all of its many forms.
Pride Month is an opportunity for such acceptance and celebration. It also serves as a reminder of the resilience and tenacity of the LGBTQ+ community, which continues to demonstrate the importance of fighting for what is important in life. SingleStore stands with this community.
Acceptance, celebration, and challenging the status quo make the world a better place for all of us. But there is still a lot of work to be done around the world so that people can love who they want without discrimination, fear, or feeling they must be apologetic about it. Every one of us needs to engage in that work to create and reinforce a more loving and inclusive society.
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 – in every move we make, every step we take, and every word we say.
In the workplace, if there is behavior that you would not accept in your personal life, speak up. Come to the conversation from a place of love. But let’s not accept the unacceptable.
As we commemorate the LGBTQ+ community’s hard-fought battles and celebrate its spirit and successes this month and into the future, the fight for equality and inclusion will go on.
But love is love. And love is worth fighting for.
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Celebrating Martin Luther King, Jr.’s Leadership and Values
Today, Martin Luther King Jr. (MLK) is celebrated, honored and remembered as one of America’s greatest leaders for his transformative ability to move the needle forward in regard to the civil rights movement in the United States and throughout the world. King sought equality and human rights for African Americans, the economically disadvantaged, and all victims of injustice through peaceful protest.
Commitment. Determination. Clarity. Vision. Inspiration. Transformational Mindset.
These words all describe the attributes of a great leader.
I’ve had a lifelong passion for studying the qualities of great leaders throughout history, and I have always admired and respected his ability to lead from the front. He set a higher standard for winning hearts and minds, through eloquence, persuasion, passion, reason and practicality. When I reflect back on his leadership, I am struck with the belief that all of us can learn from his lessons.
I’d like to highlight his brilliance as a leader.
Commitment: He had an undeterred commitment to doing more, belief in his conviction, and he discovered new ways to innovate upon his focus. He knew that there was no room to waver when it came to being a successful leader. He exemplified courage for his convictions, stood behind them, and made sure that others understood his belief.
Determination & Clarity: He remains one of the most eloquent speakers this country has ever seen. He was able to motivate millions through his speeches. In fact, he was so well spoken, and inspiring, that his words live on today and continue to inspire people more than 50 years later. He left no room for doubt as to what he wanted to accomplish.
Vision & Inspiration: Like all good leaders, he could read a room, or a situation, which often helped him anticipate the needs of the people that were around him. Similar to a strategic chess player, King thought several moves ahead. He knew that people “derived inspiration from involvement.” He understood that to get results he had to inspire others with his well communicated vision. Through his words and actions others were encouraged to dream big and then deliver on that dream and more.
Transformation Mindset: His respect for others, and sometimes tolerance, enabled him to bring about transformational change with long lasting impacts for his followers. Like many powerful leaders throughout history, King did not have a title that granted him legislative authority, his true leadership power was conveyed through his actions, clarity of vision and his belief in all that he sought to accomplish.
King remains one of the country’s most impressive leaders to this day. His command of these qualities, like the above, affords us powerful lessons for those every-day leaders to make and be the change – at home, at work, with peers and within family. Martin Luther King Jr. will always be considered one of the most exceptional people in American history.
As you spend time with your families over the long holiday weekend, in this persistent new normal, I would encourage you to reflect on some of the values King shared. I am humbled to honor one of the most transformational people of our generation. I celebrate his ability to be a student of life, to possess the ability to see the big picture and to communicate that vision, and to be one of the most inspirational and timeless leaders of our modern era.
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Digital Transformation Podcast: 10 Key Insights into Business in the COVID-19 Era
Listen in to this in-depth discussion with Raj Verma, SingleStore co-CEO, and Kevin Craine, host of the Digital Transformation Podcast. This 25-minute podcast interview covers how digital transformation has shifted from being a “nice-to-have” to a tactical “must-do.” Raj discusses how software and data have helped businesses plan strategies to navigate their COVID-19 response and recovery. He shares advice, and a call-to-action for companies to reframe their business strategies. Listen here for the full interview: Data Strategies for a Post-COVID Business World.
In the COVID-19 era, businesses are undergoing digital transformations much faster than anyone could have predicted. When we look back at this period of time, I think we will find that COVID-19 is going to make us stronger, as companies, as individuals, and economically. To hear more about the 10 key areas that Kevin and Raj explore during this conversation, click below.
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Now Is the Time for All of Us to Learn, Reflect, and Take Action
Juneteenth commemorates June 19, 1865, a day on which enreplicad African Americans in Galveston, Texas, were informed that the Civil War had ended and that they were now free.
It has been 155 years since that historic day, and racism continues to be at the root of so much pain and ugliness in our society. From the protests in the streets of Minneapolis to the disparities inflicted by COVID-19, African Americans throughout the United States are still struggling due to the embedded prejudices and racism within our society.
As long as this is true, America’s twin ideals of freedom and equality remain out of reach.
The Black Lives Matter movement is deeply personal because it addresses the needs of those who have been disenfranchised within our society and serves as a way for their voices to be heard. This is not a political statement. This is not about marketing or sales initiatives. This is about being human. Black lives don’t just matter — they are truly cherished and valued, and our society needs to make major strides to stop treating African Americans as if this isn’t the case. When it comes down to it, change starts with us.
Last weekend, I was at my daughter’s graduation, where an insightful Hungarian monk gave the commencement address. He explained that our society is plagued by two viruses: COVID-19 and the treatment of Black people within America, both inhibiting the ability for members of our society to breathe.
There is no greater cause than the one that is currently facing us. That’s why SingleStore on June 19 will observe a minute of silence followed by a presentation featuring comments from Milan Balinton, Executive Director of the African American Community Service Agency (AACSA), who will share his perspective on the current discussion around the need for Black Americans to be treated better within our society. We also are giving employees the day off in hopes they will use the time to serve their communities, educate themselves on a topic they may not know enough about, and commit to inclusion and advocacy. Within our company, we are offering a full day of talks, workshops, and study groups, to educate ourselves on African American history and related issues.
I believe with all of my heart that now is the right time to stand for our most authentic beliefs, and our most authentic desires for the generations that will follow us and the world that we want to leave for them. This is an important opportunity to reflect and act. The moment has come for us to help bring about a much-needed and very overlooked change; we should not let it pass.
Today I speak to you not only as a CEO but as a father, an immigrant, and – most importantly – as a person who wants to help, and to do more for those who are struggling for their true freedom. At the end of the day, regardless of race, sexuality, or gender, we are all humans.
Like all of you, I grow and change every day. I learn more about the world we live in. And I am chilled to my core by the way that so many people are being treated.
There are many injustices facing our world, including the gravity of the struggle that African Americans face every day, the plight and inhumane treatment of migrant workers within India, and the struggles of the LGBTQ community around the world.
No matter what, SingleStore stands with all disenfranchised communities. We want to do our part to bring awareness to the struggles of our fellow human beings and stand up to be the manifestation of the change that we hope to see in the world.
Much time has passed since the liberation of African Americans from replicary; since 15-year-old Claudette Colvin was arrested for not giving up her seat on a bus, even before Rosa Parks; and since Ruby Bridges was one of the first African American children to attend a predominantly white school, where she was met with slurs and death threats. Such mistreatment did not only exist in the past; we still live in a society in which Black people are silenced and mistreated.
While the 4th of July celebrates the liberation of America from Britain, Juneteenth celebrates the first semblance of liberation for African Americans. Juneteenth is a day to celebrate our African American colleagues. We also want this day to serve as a catalyst for other members of society.
Let’s find ways to do more, to do better, and to help in our own ways as individuals. Let’s act in unison and be bold. The struggles that diverse populations across the globe experience cannot be solved in a day. But it is critical that we are taking steps to acknowledge and address historical injustices, and doing what we can to move forward.
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