SingleStore

SingleStore, known as MemSQL until it renamed itself in October 2020, builds a distributed SQL database that handles transactional and analytical workloads in one system, sold as self-managed software and as a managed cloud service. Customers named by the company include Nvidia, Goldman Sachs, Adobe, Siemens, Comcast, Samsung and Cisco. It was founded in 2011 by Eric Frenkiel, Nikita Shamgunov and Adam Prout and is headquartered in San Francisco. Raj Verma is chief executive.

The company's first institutional round was a 2013 Series A of about $5 million with Data Collective (DCVC) and IA Ventures, after earlier backing from First Round Capital. In January 2014 Accel led a $35 million Series B with Khosla Ventures participating, bringing total funding to $45 million. A $36 million Series C in 2016 was led by Caffeinated Capital and REV. In May 2018 GV and Glynn Capital led a $30 million Series D, with Accel, Caffeinated Capital, Data Collective and IA Ventures returning, for $110 million in total funding. Insight Partners led an $80 million Series E in December 2020 and an $80 million Series F in September 2021, the latter with Hewlett Packard Enterprise, Khosla, Dell Technologies Capital, REV, Glynn and GV, taking total funding to $264 million. Wikipedia puts the valuation at $940 million in September 2021. In July 2022 Goldman Sachs Asset Management led $116 million, with Sanabil Investments joining and Dell Technologies Capital, GV, HPE, IBM Ventures and Insight returning, and in October 2022 the round was extended to $146 million with Prosperity7 Ventures.

On September 10, 2025 SingleStore announced a growth buyout in which Vector Capital, a technology private equity firm, would take majority ownership. GV, Dell Technologies Capital, IBM and REV Venture Partners stayed invested, and Vector limited partners including Adams Street Partners, J.P. Morgan Asset Management, Goldman Sachs Asset Management's External Investing Group and Lexington Partners co-invested. Terms were not disclosed. Verma confirmed the deal had closed in an October 16, 2025 post. At announcement the company reported 34% year over year growth in total net new ARR and more than 80% growth in managed cloud net new ARR. In October 2024 SingleStore acquired the data integration company BryteFlow.

SingleStore shows a common outcome for infrastructure software that raised through many venture rounds without reaching an IPO. Early backers such as First Round, DCVC and Accel held for roughly fourteen years, and the exit came through a private equity majority buyout in which several venture investors rolled their stakes rather than selling out. Because the price was undisclosed, returns relative to the 2021 valuation cannot be determined from public sources.