SingleStore (formerly MemSQL) is the database that handles both transactions and analytics in one engine. Most companies run separate databases for each — one for the app, one for reporting. SingleStore said: why not both? $460 million raised on the promise that one database to rule them all actually works. Used by Samsung, Uber, and Dell when they need speed and analytics in the same query.
Founded
2011
HQ
San Francisco, USA
Total Raised
$460 million
Founder
Nikita Shamgunov, Eric Frenkiel, Adam Prout
Status
Private
Website
www.singlestore.comTHE ORIGIN STORY
Nikita Shamgunov, Eric Frenkiel, and Adam Prout were engineers at Facebook and Microsoft who saw that companies were struggling with a fundamental database problem: transactional databases (MySQL, Postgres) were fast for app operations but terrible for analytics. Analytical databases (Redshift, BigQuery) were great for reporting but couldn’t handle real-time operations.
They founded MemSQL (now SingleStore) in 2011 to build a single database that could handle both workloads — HTAP (Hybrid Transactional/Analytical Processing). The database stores data in memory for speed while persisting to disk for durability.
WHAT THEY ACTUALLY DO
Cloud database subscription. SingleStore charges based on compute and storage consumption.
Available as a managed cloud service (SingleStore Helios) or self-hosted. Enterprise contracts include support and advanced features.
Revenue comes from both cloud subscriptions and on-premise licenses.
THE PRODUCTS
SingleStore Helios — managed cloud database. Real-time analytics on operational data.
Vector search for AI/ML applications. Full-text search.
JSON document storage. Kai — MongoDB API-compatible interface.
HOW THEY GREW
Enterprise sales targeting companies with demanding real-time analytics requirements. Case studies from major brands (Samsung, Uber, Dell) built credibility.
The rebrand from MemSQL to SingleStore in 2020 clarified the value proposition. Cloud-first go-to-market with a free tier for developers.
THE HARD PART
Competing against the big three cloud databases (Amazon Aurora, Google BigQuery, Snowflake) plus specialized databases for each use case. Convincing companies to consolidate onto one database when they’ve already invested in separate systems.
MONEY TRAIL
Series A
2012 · Led by Ashton Kutcher / A-Grade
$5M raised
Series C
2016 · Led by Accel
$50M raised
Series E
2020 · Led by Dell Technologies Capital
$50M raised
Series F
2021 · Led by Goldman Sachs
$80M raised
Growth Round
2022 · Led by Goldman Sachs
$116M raised
WHO BACKED THEM
Goldman Sachs led later rounds. Earlier investors include Accel, Khosla Ventures, and GV (Google Ventures).
Total funding of $460 million.
Related Profiles
Head-to-Head
Compare SingleStore vs another company.