SingleStore Reaches Unicorn Status as a Leader in Cloud SQL Database Management

With the growing demand for flexible data programs, there’s also a need for enhanced database management. SingleStore, the cloud-native database built for speed and scale to power data-intensive applications, today announced it has raised $116 million in new extended Series F funding. The round was led by the growth equity business within Goldman Sachs Asset Management, with new investment from Sanabil Investments, and joined by current investors including Dell Technologies Capital, Hewlett Packard Enterprise (HPE), and others.

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With this latest round of fundraising, SingleStore becomes the latest data unicorn with its valuation of $1.3 billion. The SingleStoreDB platform unifies different types of workloads in a single database, supporting modern applications which frequently run real-time analytics on transactional data. It also offers a fully managed elastic cloud database, as well as database SaaS that can facilitate local, distributed, and highly scalable SQL databases.

Despite general economic instability, the company continues to grow, nearly doubling its staff since 2021—and it is still hiring. It has also been actively refreshing its executive staff as of late, hiring new Chief Financial Officer Brad Kinnish, Senior Vice President of Engineering Shireesh Thota, and General Counsel Meaghan Nelson.