SingleStore Secures $80 Million in Latest Funding Round, Continuing its Cloud Innovation

SingleStore, the single database for all data-intensive applications, announced it raised $80 million in primary capital funding in its Series F round, empowering the company to continue to innovate; expand its footprint and team of experts to provide customers with more resources and greater choice; and garner industry recognition.

Insight Partners led the round, with participation from new investor Hewlett Packard Enterprise. Existing investors Khosla Ventures, Dell Technologies Capital, Rev IV, Glynn Capital, and Google Ventures also participated.

“In the digital services economy, there is increasing demand on data in every dimension, and this is driving a new technology phase which we call the data-intensive era,” said SingleStore CEO Raj Verma. “The status quo of stitching together multiple databases built for previous eras isn’t delivering the needed speed, simplicity, or efficiency. SingleStore is the industry’s first database built to solve the challenges of this new era in one database.”   

This funding follows a Series E round in December 2020 during which SingleStore raised $80 million. The Series F round brings SingleStore’s total funding to $264 million.

“Enterprises today are turning to the cloud for speed, scale, and ease to act quickly in the moments that matter,” said Carl Olofson, research vice president at IDC. “This funding round, along with its powerful and flexible database functionality, positions SingleStore as a technology that clearly exploits the ability of the cloud to satisfy critical data requirements. Enterprises and developers should consider SingleStore as a potential key cloud platform for their data needs.”

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