SingleStore Finished a Record Fiscal Year with Strongest Q4
Commercial customer deals and growing product offering aids in most profitable fourth quarter
SAN FRANCISCO, CA - March 1, 2018 - SingleStore, the database for real-time applications, today announced a solid finish to its fiscal year as a result of having a record quarter.
SingleStore Finished a Record Fiscal Year with Strongest Q4 - Click to Tweet
SingleStore saw its fourth quarter commercial bookings top over 200 percent year-over-year growth. This growth is partly driven by more than three times increase in add-on revenue, as once customers start using SingleStore, they maintain and expand their use of the technology. As a result of a boost in commercial customer deals and the release of SingleStore 6, the company exceeded revenue projections.
“As the demand for real-time insights on data grows, companies need a database that can handle transactions and analytics at the same time,” said Nikita Shamgunov, CEO and co-founder of SingleStore. “With SingleStore, our customers get those capabilities in one place allowing them to drive better business value from their data.”
Data-driven organizations that selected SingleStore this year to support their real-time efforts include numerous Fortune 100 enterprises, the U.S. Government, and other innovative companies across key verticals including media, energy, and finance.
These customers understand the need to stay ahead of trends and their competition. SingleStore gives them that advantage by providing them the ability to analyze their data to gain insights in real time while utilizing standard SQL which organizations find easier to consume than NoSQL technologies.
The release of SingleStore 6 delivered many new features and enhancements for customers, such as support for stored procedures and user-defined functions, improved query performance including vectorized execution (AVX2) for certain kinds of aggregation/group-by, filter, and join queries, enhanced fault tolerance, and reduced blocking for online operations. Benefits include the ability to run machine learning algorithms in a distributed SQL environment, 30-80 times performance improvements for certain kinds of queries, improved availability, and simplified application development.
SingleStore is working to enable every company to be a real-time enterprise. You can visit singlestore.com to learn more and get started on your journey.
SingleStore envisions a world of adaptable databases and flexible data workloads - your data anywhere in real time. Today, global enterprises use SingleStore as an intelligent database to cost-effectively ingest data and produce industry-leading time to insight. SingleStore works on-premises, on any cloud, or as a managed service. Visitsinglestore.com or follow us @SingleStoreDB.