Software maker SingleStore raises $116 mn in VC funding

Software maker SingleStore has raised $116 million in a venture capital funding round led by Goldman Sachs Asset Management.
Dollar spending on technology
The VC funding round took SingleStore’s total raise 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, General Electric, Kellogg and Siemens.

Based in San Francisco, SingleStore partnered with IBM in April to launch SingleStoreDB – a subscription-based software that helps reduce hardware costs and quickly run data-intensive reports using a single database.