Software developer SingleStore achieves unicorn status following Goldman-led fundraising effort
Software maker SingleStore said that it had raised $116 million in a funding round led by Goldman Sachs Asset Management, propelling it to unicorn status.
The company did not disclose its exact valuation. A unicorn is a start-up that is valued at more than $1 billion.
The funding round took SingleStore’s total raised to $278 million over the last 20 months and also included Sanabil Investments, Dell Technologies Capital, Hewlett Packard Enterprise, IBM Ventures, Insight Partners, and GV—formerly Google Ventures.
Founded in 2011, SingleStore powers data-intensive applications and runs real-time analytics for a host of customers including Uber Technologies Inc, General Electric Co, Kellogg Co, and Siemens AG.
Venture capital firms and private equity giants have continued to pour funds into technology start-ups this year despite a selloff that has roiled listed companies in the sector.
For instance, General Atlantic, Andreessen Horowitz, and Tiger Global—some of the world’s biggest investors—have backed funding rounds of software firms SpotOn and Talos as they bet on a recovery in valuations.
Based in San Francisco, SingleStore partnered with International Business Machines Corp in April to launch SingleStoreDB – a subscription-based software that helps reduce hardware costs and quickly run data-intensive reports using a single database.
The company is led by Chief Executive Raj Verma and recently hired former Deutsche Bank executive Brad Kinnish as its finance chief.
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Software maker SingleStore said that it had raised $116 million in a funding round led by Goldman Sachs Asset Management, propelling it to unicorn status.
The company did not disclose its exact valuation. A unicorn is a start-up that is valued at more than $1 billion.
The funding round took SingleStore’s total raised to $278 million over the last 20 months and also included Sanabil Investments, Dell Technologies Capital, Hewlett Packard Enterprise, IBM Ventures, Insight Partners, and GV—formerly Google Ventures.
Founded in 2011, SingleStore powers data-intensive applications and runs real-time analytics for a host of customers including Uber Technologies Inc, General Electric Co, Kellogg Co, and Siemens AG.
Venture capital firms and private equity giants have continued to pour funds into technology start-ups this year despite a selloff that has roiled listed companies in the sector.
For instance, General Atlantic, Andreessen Horowitz, and Tiger Global—some of the world’s biggest investors—have backed funding rounds of software firms SpotOn and Talos as they bet on a recovery in valuations.
Based in San Francisco, SingleStore partnered with International Business Machines Corp in April to launch SingleStoreDB – a subscription-based software that helps reduce hardware costs and quickly run data-intensive reports using a single database.
The company is led by Chief Executive Raj Verma and recently hired former Deutsche Bank executive Brad Kinnish as its finance chief.
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