San Francisco, CA - April 21, 2016 - SingleStore, provider of the fastest database platform for real-time analytics, today announced it has closed its series C financing raising $36 million. The oversubscribed round includes new investors REV and Caffeinated Capital, as well as all existing investors Accel Partners, Khosla Ventures, Data Collective, IA Ventures, and First Round Capital. This latest SingleStore funding round brings the total amount raised to $85 million, accelerating the company’s mission to help the world’s largest companies meet new data processing demands so they can adapt and learn in real time.
SingleStore Raises $36m in Series C Round - Click to Tweet
“At Caffeinated Capital, we believe in the future of data as a primary driver for the digital economy, and SingleStore is well positioned to serve this market,” said Raymond Tonsing, Founder and Managing Director, Caffeinated Capital. “We have been impressed by the talented team, and their ability to solve challenging problems in a massive, growing market. SingleStore fits perfectly with the real-time world and we look forward to the company’s expansion.”
SingleStore will use the funds to accelerate growth across the company including engineering, sales, support, and marketing. SingleStore continues to assemble a team of database and infrastructure experts delivering the most innovative approaches to real-time analytics. The company also sits at the intersection of database innovation and a new, fast-growing market for real-time applications driven by dramatic drops in hardware costs and new use cases that involve streams of data.
In March, the company announced the general availability of SingleStore 5, a flagship release that includes breakthrough analytics performance, drives real-time business intelligence, and supports on-site deployment or across multiple cloud providers. SingleStore 5 empowers global companies to harness real-time data and use familiar SQL and SQL-focused tools to achieve immediate results.
Earlier in 2016, SingleStore was recognized as a visionary in the Gartner Magic Quadrant for Data Warehouse and Data Management Solutions for Analytics. This comes on the heels of SingleStore also being recognized as a visionary in the Gartner Magic Quadrant for Operational Database Management Systems. Today, only five companies appear as leaders or visionaries on both of those Magic Quadrants from Gartner. Those companies are SAP, Oracle, IBM, Microsoft, and SingleStore.
“Every day, SingleStore customers harness the power of real-time data to increase business velocity, drive greater revenue, and decrease costs, and we look forward to helping companies across industries achieve similar results,” said Eric Frenkiel, CEO and co-founder, SingleStore. “We welcome our new investors who clearly understand that a proven business model in the database market is a critical foundation for growth.”
Read the blog post www.singlestore.com/blog/memsql-raises-series-c/
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SingleStore delivers the leading database platform for real-time analytics. Global enterprises use SingleStore to achieve peak performance and optimize data efficiency. With the combined power of database, data warehouse, and streaming workloads in one system, SingleStore helps companies anticipate problems before they occur, turn insights into actions, and stay relevant in a rapidly changing world. Visit singlestore.com or follow us @SingleStoreDB.