SingleStore (MemSQL)

Enterprise Software

Founded: 2011

Last Round Valuation: $1.32B

SingleStore, previously known as MemSQL, is a cutting-edge provider of comprehensive data solutions tailored to meet the demands of contemporary business operations, including transactions, analytics, and AI, thus empowering leading enterprises undergoing digital transformation. The company's intelligent database platform offers a global reach, enabling seamless deployment on any cloud or on-premises, serving as a powerful service for both transactional and analytical tasks simultaneously. By harnessing the platform's capabilities, clients can leverage the power of analytics to drive their business forward and seamlessly integrate semi-structured data into a cohesive big data platform. Founded in 2011 by Eric Frenkiel, Adam Prout, and Nikita Shamgunov, SingleStore has been at the forefront of revolutionizing data management solutions.

SingleStore (MemSQL) Overview:

SingleStore, formerly known as MemSQL, is a prominent provider of advanced data solutions designed to address the complex needs of modern businesses. Their platform offers a comprehensive suite of tools catering to a wide range of data workloads, including transactions, analytics, and artificial intelligence (AI). This makes SingleStore an ideal choice for leading enterprises that are undergoing digital transformation and require high-performance and scalable data management solutions.

At the core of SingleStore's offering is their intelligent database platform, which serves as a versatile and agile foundation for data operations. It is capable of working seamlessly across different environments, whether on-premises or on any cloud infrastructure, giving organizations the flexibility to choose the deployment model that best suits their needs.

One of the standout features of SingleStore's database platform is its ability to handle both transactional and analytical workloads concurrently. Traditionally, these tasks were handled by separate systems, leading to complexities and inefficiencies. SingleStore's innovative approach eliminates this challenge, enabling businesses to carry out real-time transactional processes while simultaneously running complex analytics, all within the same unified platform.

This simultaneous processing of transactions and analytics is crucial for businesses aiming to gain real-time insights from their data. With SingleStore, enterprises can make informed decisions based on up-to-date information, leading to improved business outcomes and greater agility in responding to market dynamics.

Moreover, SingleStore's platform empowers organizations to leverage the power of AI and machine learning. By integrating AI capabilities into their data workflows, businesses can unlock valuable insights from vast datasets, enabling them to make predictive and data-driven decisions. This synergy between data analytics and AI amplifies the value of the data platform and enhances the overall data-driven capabilities of the organization.

In addition to the above, SingleStore enables clients to consolidate their semi-structured data into a unified big data platform. This consolidation eliminates data silos and fosters a more holistic approach to data management. As a result, organizations can seamlessly analyze diverse data types and leverage previously untapped sources of information to gain a more comprehensive understanding of their business and customers.

SingleStore was founded as MemSQL in 2011 by Eric Frenkiel, Adam Prout, and Nikita Shamgunov, who recognized the growing need for a modern, scalable, and high-performance database solution that could meet the demands of the evolving digital landscape. Over the years, the company has garnered a strong reputation in the data management space, serving a diverse range of clients across various industries, including finance, e-commerce, telecommunications, and more.

Through their innovative data platform, SingleStore has enabled businesses to accelerate their digital transformation journeys, unlocking the full potential of their data and empowering them to thrive in a data-centric world. With a continued commitment to excellence and technological advancements, SingleStore remains at the forefront of shaping the future of data management solutions for enterprises worldwide.

Founders:

  • Adam Prout

  • Eric Frenkiel

  • Nikita Shamgunov

Top Investors:

  • Accel

  • Anchorage

  • Caffeinated Capital

  • Data Collective

  • Dell

  • Digital Sky Technologies

  • First Round Capital

  • GV (Google Ventures)

  • Glynn Capital Management

  • Goldman Sachs

  • HP (Hewlett-Packard)

  • Hercules Capital

  • IA Ventures

  • IBM Ventures

  • Insight Partners

  • Khosla Ventures

  • New Enterprise Associates (NEA)

  • REV Venture Partners

  • SV Angel

  • Sanabil Investments

  • Start Fund

  • The Data Collective

Funding History:


Date Share Type Amount Raised Raised to Date Issue Price Post Money Valuation Key Investors
Jul 2022 Series F-2 $116MM $388.78MM $6.42 $1.32B Goldman Sachs, Sanabil Investments, Dell Technologies Capital
Sep 2021 Series F $80MM $272.78MM $5.28 $939.04MM Insight Partners, HP, Khosla Ventures
Dec 2020 Series E $80MM $192.78MM $3.44 $438.88MM Insight Partners, Dell Technologies Capital, Hercules Capital
May 2018 Series D $31.42MM $112.78MM $2.56 $265.72MM GV, Glynn Capital Management, IA Ventures Accel
Apr 2016 Series C $34.23MM $81.36MM $2.48 $242.58MM REV Venture Partners, Caffeinated Capital, Accel
Jan 2014 Series B-1 $11.12MM $47.13MM $2.20 $159.78MM Accel Partners, Khosla Ventures, First Round Capital
Nov 2013 Series B $27.3MM $36MM $1.53 $98.61MM Accel Partners, Khosla Ventures, First Round Capital
Jun 2012 Series A $3.83MM $8.71MM $0.80 $31.25MM The Data Collective
Jun 2011 Series Seed $4.88MM $4.88MM $0.38 $13.94MM Digital Sky Technologies, First Rounds Capital, New Enterprise Associates

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