Software maker SingleStore hits unicorn status after Goldman-led fundraise
Summary
REUTERS/Andrew Kelly July 12 (Reuters) - Software maker SingleStore said on Tuesday it had raised $116 million in a funding round led by Goldman Sachs Asset Management, propelling it to unicorn status. Founded in 2011, SingleStore powers data-intensive applications and runs real-time analytics for a host of customers including Uber Technologies Inc (UBER.N), General Electric Co (GE.N), Kellogg Co (K.N) 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 worlds biggest investors - have backed funding rounds of software firms SpotOn and Talos as they bet on a recovery in valuations. read more Based in San Francisco, SingleStore partnered with International Business Machines Corp (IBM.N) in April to launch SingleStoreDB - a subscription-based software that helps reduce hardware costs and quickly run data-intensive reports using a single database.
