SingleStore Secures Investment from IQT to Deliver Real-Time Big Data Analytics
Partnership Will Support Further Development of In-Memory Database for U.S. Government Applications
SAN FRANCISCO, September 24, 2014 - SingleStore, a leader in real-time and historical Big Data analytics based on a distributed in-memory database, today announced a strategic investment from In-Q-Tel (IQT), the strategic investment firm that identifies innovative technology solutions to support the missions of the U.S. Intelligence Community.
IQT’s investment in SingleStore will generate market opportunities for its in-memory distributed database with government entities. SingleStore’s database empowers organizations to make data- driven decisions in real-time and enables customers including Comcast, Ziff Davis, Shutterstock and Zynga, to quickly capture, store, and query hundreds of terabytes of data by combining in- memory row and flash-optimized column stores. With a single platform, organizations can converge live and historical data to accelerate applications and power real-time operational analytics.
“SingleStore’s unique offering delivers fast data processing to allow organizations instant access to key information, while effectively managing their infrastructure and preventing anomalies,” said George Hoyem, Partner on IQT’s Investment team. “As Big Data analytics increasingly becomes a priority for the government agencies we support, we are confident SingleStore’s technical excellence and strong engineering team will provide our customers with the capabilities to extract greater value from their data.”
“In-memory databases have been rapidly gaining market acceptance as more organizations aim to deal simultaneously with both the volume and velocity aspects of Big Data. However, real- time operational control for clusters was a void in the market that SingleStore has successfully filled,” said Eric Frenkiel, CEO and co-founder at SingleStore. “This investment by IQT further validates SingleStore’s leadership in this area, and reflects the deep interest in Big Data analytics that we’re seeing among several industries, including federal. I’m pleased to work with such a strong partner to help bring the deep insights gained from in-memory technology to the U.S. Intelligence Community.”
SingleStore is the leader in real-time and historical Big Data analytics based on a distributed in- memory database. SingleStore is purpose built for instant access to real-time and historical data through a familiar SQL interface and uses a horizontally scalable distributed architecture that runs on commodity hardware. Innovative enterprises use SingleStore to accelerate time-to-value by extracting previously untapped value in their data that results in new revenue. SingleStore is proven in production environments across hundreds of nodes in high velocity Big Data environments. Based in San Francisco, SingleStore is a Y Combinator company funded by prominent venture capitalists and angel investors including Accel Partners, Khosla Ventures, First Round Capital and Data Collective.
In-Q-Tel is the not-for-profit, strategic investment firm that works to identify, adapt, and deliver innovative technology solutions to support the missions of the U.S. Intelligence Community. Launched in 1999 as a private, independent organization, IQT’s mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community’s critical technology needs, IQT engages with entrepreneurs, startups, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and broader Intelligence Community. For more information, visit www.iqt.org.