SingleStore, a San Francisco, California-based cloud-native database built for speed and scale to power data-intensive applications, announced it has raised $116 million in financing.

The round was led by the growth equity business within Goldman Sachs Asset Management (Goldman Sachs), with participation from Sanabil Investments. Current investors Dell Technologies Capital, GV, Hewlett Packard Enterprise (HPE), IBM Ventures, and Insight Partners, among others, also participated in the round. 

In conjunction with its funding announcement, SingleStore appointed longtime technology executive Brad Kinnish as chief financial officer and Meaghan Nelson as its new general counsel.

The company has almost doubled its headcount in the last 12 months and continues to aggressively hire to meet the demand for its product and services.

Company: SingleStore, Inc.

Raised: $116.0M

Round: Series F

Funding Month: July 2022

Lead Investors: Goldman Sachs Asset Management

Additional Investors: Sanabil Investments

Company Website: https://www.singlestore.com/

Software Category: Database 

About the Company:  Founded in 2011, SingleStore delivers innovative breakthroughs for modern data workloads spanning transactions, analytics, and AI for leading businesses undergoing digital transformation. SingleStore delivers the world’s fastest distributed SQL database for data-intensive applications, SingleStoreDB is a cloud database available on AWS, GCP, and Azure. SingleStore helps businesses adapt more quickly, embrace diverse data and accelerate digital innovation by operationalizing all data through one platform for all of their moments that matter. Digital giants like Hulu, Uber, Comcast, and many more of the world’s leading SaaS providers.

Source: https://www.singlestore.com/media-hub/releases/singlestore-announces-116m-funding/