SingleStore, the cloud-native database that handles transactions and analytics simultaneously, has raised USD 116 million. The funding round was led by the growth equity business within Goldman Sachs Asset Management (Goldman Sachs), with new participation from Sanabil Investments.
"The company aims to help organizations overcome the challenges of data intensity across multi-cloud, hybrid and on-prem environments, and we are excited to support SingleStore as it enters a new phase of growth," said Holger Staude, managing director at Goldman Sachs.
"Our purpose is to unify and simplify modern data. We believe the future is real-time, and the future demands a fast, unified and high-reliability database — all aspects in which we are strongly differentiated. I am very excited to partner with Goldman Sachs, the beacon of financial institutions, and further expand our relationship," said SingleStore CEO Raj Verma.
Previous investments from IBM Ventures, HPE and Dell have fueled strong momentum. Recently, SingleStore launched SingleStoreDB with IBM and announced a partnership with SAS to deliver ultra-fast insights at lower costs. The company has almost doubled its headcount in the last 12 months and continues to hire aggressively.
The company recently onboarded its new chief financial officer, Brad Kinnish, along with Meaghan Nelson as its new general counsel.
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