Goldman Sachs Leads $116 Million Investment in SingleStore

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; SingleStore&comma; a cloud-native database built for speed and scale to power data-intensive applications&comma; has raised &dollar;116 million in financing led by the growth equity business within Goldman Sachs Asset Management &lpar;Goldman Sachs&rpar; with new participation from Sanabil Investments&period; Current investors Dell Technologies Capital&comma; GV&comma; Hewlett Packard Enterprise &lpar;HPE&rpar;&comma; IBM ventures and Insight Partners&comma; among others&comma; also participated in the round&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;By unifying different types of workloads in a single database&comma; SingleStore supports modern applications&comma; which frequently run real-time analytics on transactional data&comma;” said Holger Staude&comma; managing director at Goldman Sachs&period; &OpenCurlyDoubleQuote;The company aims to help organizations overcome the challenges of data intensity across multi-cloud&comma; hybrid and on-prem environments&comma; and we are excited to support SingleStore as it enters a new phase of growth&period;”<&sol;p>&NewLine;<p>&&num;8220&semi;Our purpose is to unify and simplify modern data&comma;” said SingleStore CEO Raj Verma&period; &OpenCurlyDoubleQuote;We believe the future is real time&comma; and the future demands a fast&comma; unified and high-reliability database — all aspects in which we are strongly differentiated&period; I am very excited to partner with Goldman Sachs&comma; the beacon of financial institutions&comma; and further expand our relationship&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;At Siemens Global Business Services&comma; we rely on SingleStore to drive our Pulse platform&comma; which requires us to process massive amounts of data from disparate sources&comma;” said Christoph Malassa&comma; Head of Analytics and Intelligence Solutions&comma; Siemens&period; &OpenCurlyDoubleQuote;The speed and scalability SingleStore provides has allowed us to better serve both our customers and our internal team&comma; and to expand our capabilities along with them&comma; e&period;g&period; enabling online analytics that previously had to be conducted offline&period;”<&sol;p>&NewLine;<p>The funding comes on the heels of the company’s recent onboarding of its new chief financial officer&comma; Brad Kinnish and today&comma; the company is pleased to welcome Meaghan Nelson as its new general counsel&period; These two strategic executive hires infuse a great depth of experience to the C-suite&comma; making it even more equipped to explore future paths for company growth&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;I am beyond thrilled to join the team at SingleStore&comma;” said Kinnish&period; &OpenCurlyDoubleQuote;It’s such an exciting time in the database industry&period; Major forces such as the rise in cloud and the blending of operational and transactional workloads are causing a third wave of disruption in the way data is managed&period; SingleStore by design is a leader in the market&comma; and I am confident we will achieve a lot in the coming year&period;”<&sol;p>&NewLine;