Months after raising a $116 million Series F round, data storage provider SingleStore announced this week that it has raised an additional $30 million from investors including Saudi Aramco’s Prosperity7. The Series F — or “Series F-2” technically — is now at $146 million, bringing SingleStore’s total to $412 million (despite an unused $50 million line of credit from Silicon Valley Bank).
In an email interview with TechCrunch, Raj Verma said the new capital will be used to support product development and engineering efforts, as well as sales investments. He said the single store would be used to fund geographic expansion as it sees a wider range of customers across Europe and Asia.
“SingleStore helps businesses adapt quickly, embrace disparate data and accelerate digital innovation by using all data in one platform,” said Verma. “A proprietary, lightweight, data-agnostic approach is built to enable organizations to operate with data-driven insights.”
SingleStore as MemSQL was founded in 2011 by Eric Frenkiel, Adam Prout and Nikita Shamgunov; Verma became CEO in 2020 after a year in the role of co-executive director. The company’s technology is known as a relational database, which uses a structure of rows and columns to identify and access information related to other data elements in the database.
Separating storage and compute, Verma says the SingleStore database platform can process trillions of rows per second, retrieve billions of rows per hour, and host databases with tens of thousands of tables. Use case tense Real-time analytics, operational AI, predictive maintenance and any other application or service that depends on a database configured for storage.
