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SingleStore, founded in 2010 and headquartered in San Francisco, California, is a leading provider of real-time analytics and artificial intelligence solutions in the data management industry. The company offers a distributed SQL database that supports both transactional and analytical workloads, enabling data-intensive applications to operate with simplicity, speed, and scale.
SingleStore has demonstrated significant growth and market traction since its inception. The company serves a diverse clientele, including over 100 members of the Fortune 500, Forbes Global 2000, and Inc. 5000 lists. Notable customers include Uber, Sony, Dell Technologies, and Adobe, among others. In 2022, SingleStore was reported to be approaching $100 million in annual recurring revenue with a customer base of approximately 300 brands.
The company has successfully raised substantial funding, with its latest Series G round in July 2022 securing $116 million at a valuation of $1.32 billion. This brings SingleStore's total funding to $582.2 million, with backing from prominent investors such as Insight Partners, Khosla Ventures, and GV.
While there is no official news regarding SingleStore's IPO prospects, the company's strong financial backing, impressive client roster, and innovative technology position it as a notable player in the rapidly growing database market. According to Gartner, the global database market is expected to exceed $100 billion in 2023, with a projected compound annual growth rate of 16.8% through 2027.
As with any private company, various factors could influence a potential IPO decision, including market conditions, company performance, and strategic objectives. However, without official statements from SingleStore or confirmed reports, any discussion of IPO plans remains speculative.
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While SingleStore's IPO prospects remain uncertain, investors eager to gain exposure to innovative database technology companies don't have to wait. At Linqto, we offer members access to interests in pre-IPO private companies like SingleStore, potentially allowing you to benefit from their growth before they go public. Our platform provides opportunities to invest in promising tech leaders with lower minimum investments than traditional private equity opportunities, helping you diversify your portfolio in the rapidly evolving data management sector.
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.
