New investor Prosperity7 joins round, as company continues impressive track record of customer wins, strategic hires and industry accolades
SAN FRANCISCO, October 03, 2022--(BUSINESS WIRE)--SingleStore, the cloud-native database built for speed and scale to power data-intensive applications, today announced it has closed its F-2 round of financing at $146 million, led by Goldman Sachs.
SingleStoreDB empowers businesses to deliver superior real-time experiences by unifying transactions and analytics in the same engine – with fast, cost-efficient and powerful results. Leading companies across nearly every vertical around the world use it to drive better customer experience and enterprise intelligence.
"Business happens in real time. Today’s organizations demand real-time data and immediate insights that empower them to make fast, informed decisions," said SingleStore CEO Raj Verma. "That requires a modern data infrastructure that only SingleStore’s cloud-native database can deliver. I am excited to announce this funding, and I’d like to thank all of our investors. I look forward to applying these funds to fuel SingleStore’s continued growth and strategic initiatives."
This funding comes on the heels of SingleStore’s recent onboarding of Senior Vice President of Marketing Sanjay Aurora. Aurora brings decades of sales and marketing experience at high-growth software and SaaS companies. SingleStore also announced its product integration with SAS Viya earlier this summer, was recognized by Dresner Advisory Services and TrustRadius and was included on the Inc. 5000 list.
Announcing Prosperity7 as New investor
SingleStore also welcomed Prosperity7 as a new investor as part of its F-2 funding round.
"We thank Prosperity7 for coming on board as a new investor of SingleStore. We appreciate its vote of confidence and look forward to embracing this new relationship with such a respected company," Verma added.
"SingleStore provides a truly unique solution to address the challenges most organizations have been facing in dealing with rapidly growing data. The company is addressing both databases and analytics through a very efficient system that is fully scalable on-premises, within a cloud and across multiple clouds," said Aysar Tayeb, executive managing director at Prosperity7. "SingleStore continues to demonstrate clear market and technology leadership. With the company’s outstanding team and great execution, we believe SingleStore’s competitive advantages and value add will continue to grow in the coming years."
SingleStore has nearly doubled its headcount in the past 12 months, expanded geographically with offices in Ireland, Singapore and Australia, and continues to hire to meet the demand for its products and services.
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The world’s leading brands rely on data — to make the right business decisions, to deliver exceptional customer experiences and to stay ahead of the competition. This reliance on data brings with it a need for simplicity, speed and scale. SingleStore delivers the world’s fastest distributed SQL database for data-intensive applications, SingleStoreDB. By combining transactional and analytical workloads, SingleStore eliminates performance bottlenecks and unnecessary data movement to support constantly growing, demanding workloads. Digital giants like Hulu, Uber and Comcast, and many more of the world’s leading SaaS providers, choose SingleStore to unleash the power of their data — supercharging exceptional, real-time data experiences for their customers. Follow us @SingleStoreDB and @SingleStoreDevs on Twitter or visit www.singlestore.com.
About Prosperity7 Ventures
Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Aramco, the world’s leading integrated energy and chemicals company. The fund’s name derives from "Prosperity Well," the seventh oil well drilled in Saudi Arabia and the first to strike commercial oil, paving the way to prosperity. Bringing forward this pioneering history, Prosperity7 invests globally with a long-term view in breakthrough technologies and transformational business models that bring prosperity and positive impacts on a vast scale. Official website: https://www.prosperity7vc.com/
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Director of Communications & PR at SingleStore