SingleStore Nabs $80M Series E Funding, New Partnership with SAS
SingleStore has secured $80 Million in Series E funding, according to a press release on the company’s website. The round includes participation from new and existing investors and brings SingleStore’s total funding earned to $238 million. MemSQL re-branded to SingleStore in October. The new vision for SingleStore is the ability to access data no matter where it is located, even if its location is beyond the platform, via federated access. Formerly MemSQL Helios, SingleStore Managed Service will continue to offer a translytical database with converged transactional and analytical capabilities.
SingleStore can ingest and transform millions of events per day while also analyzing billions of rows of data using standard SQL. It can be deployed on-prem, in the cloud via Amazon Web Services or Microsoft Azure, or as a service including drop-in compatibility with existing middleware, integration, and BI software. The tool offers excellent real-time data streaming capabilities, and now provides more efficient query isolation for large volumes of data and many users.
As part of the SingleStore funding news, the solution provider is announcing a new partnership with data management and analytics provider SAS. The partnership, according to SingleStore CEO Raj Verma is “a validation that a changing of the guard in the database market is afoot.” He added “Our partnership with SAS, the custodian of the most sought after and complex data workloads in the world, is validation of this market movement. I could not be more excited to partner with a company I’ve always greatly admired for both its software and culture. It is an honor and a privilege.”
SingleStore will use the new funding to increase its sales capacity, expand its engineering team, and enhance its market presence via new partnerships.
The funding round comes on the heels of SingleStore’s Managed Service release on AWS Marketplace.