ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

SingleStore Empowers Digital Innovators With Superior Database Performance and Real-Time Insights at Lower TCO

August 30, 2022 GMT

SAN FRANCISCO--(BUSINESS WIRE)--Aug 30, 2022--

SingleStore, the cloud-native database built for speed and scale to power data-intensive applications, today unveiled Captain Metrics, DataDock Solutions, Dell Technologies, Digital Asset Research, Foodics, impact.com and Thentia as customers. Customer acquisition spanning multiple use cases and industries is just one factor in SingleStore’s impressive momentum, as the company officially reached unicorn status by closing a $116 million funding round led by Goldman Sachs Asset Management, as well as reported stellar results against major competitors in a total cost of ownership (TCO) study. Additionally, SingleStore announced its product integration with SAS Viya earlier this month, was recognized by Dresner Advisory Services and TrustRadius and was included on the Inc. 5000 list, reporting 142% average growth.

“SingleStore is having another amazing year. This quarter started with a bang with a funding round led by new investor Goldman Sachs, and our event [r]evolution, at which we detailed our newly expanded real-time capabilities,” said SingleStore Chief Marketing Officer Suresh Sathyamurthy. “Our product innovations and unrivaled TCO continue to enable us to win forward-looking customers, receive various industry accolades and cement our position as a leader in the database industry.”

ADVERTISEMENT

Michael Zimberg, chief technology officer at Digital Asset Research, explained: “SingleStore’s platform enables frictionless, real-time streaming of 200MM current daily trades, with capacity for additional volumes. We believe that this type of data power is essential to improving our exchange/asset vetting and pricing products and deepening customer satisfaction.”

“Thanks to SingleStore, we’re delivering sub-second reports, dashboards, exploratory BI, APIs and even by-key lookups, all from the same real-time streamed dataset with many billions of records, so all our users get fast answers on up-to-the-minute data,” said Mauricio Aristizabal, principal data architect at impact.com. “We further leverage Workspaces to isolate and tune compute resources for each of those consumers, so they are protected from noisy neighbors and meet their specific SLAs while keeping costs in check.”

ADVERTISEMENT

The Workspaces capability that Aristizabal mentioned is among the many new product features that SingleStore detailed at [r]evolution. Workspaces provides unparalleled scalability by decoupling compute across individual applications such as operational analytics and real-time machine learning without these workloads interfering with one another. The workloads run on shared databases, minimizing unnecessary data movement, costs and complexity.

“We hit the sweet spot with SingleStore. If you cannot do massive analytics, you need SingleStore. If you don’t want to manage a clone of your data in a separate database like Google BigQuery, you need SingleStore. If you need to work on fresh data, you need SingleStore,” said Pierre Bazoge, founder of Captain Metrics.

ADVERTISEMENT

“Transferring our data to SingleStore was hands down the best decision I have made since we started DataDock Solutions more than four years ago. I can say with absolute confidence that this was my best decision on a technology stack component I have ever made in my whole professional career,” said Martin Adamec, chief technology officer of DataDock Solutions. “The reliability, excellent performance and the stellar support provided by SingleStore proves my statement every single day we use this excellent database technology. It is easy to forget that we are even running any database at all in our stack. That is because SingleStore is just humming silently, doing its job as expected without any ugly surprises. Trust me, that is not what I was used to when it comes to databases. The last 10 times we contacted SingleStore support was not about any issues, they all were to ask questions verifying our understanding of some advanced features. That is how good this piece of technology really is.”

ADVERTISEMENT

Julian Cardarelli, CEO of Thentia, said: “We’re seeing incredible growth at Thentia, and our relationship with SingleStore enables us to support and build upon that growth. With SingleStore, we can process billions of events and do real-time analytics, providing our customers a level of analytical power they have never before experienced.”

In addition to expanding its customer base with industry-leading companies such as Dell and continuing to add to its capabilities for real-time applications and workloads, SingleStore has deepened its executive leadership. Recent additions to the team include Shireesh Thota as senior vice president of engineering and Yatharth Gupta as vice president of product management, Brad Kinnish as chief financial officer and Meaghan Nelson as general counsel.

SingleStoreDB empowers businesses to deliver superior real-time experiences by unifying transactions and analytics in the same engine – with fast, cost-efficient and powerful results.

Additional Resources

ADVERTISEMENT

About SingleStore

The world’s leading brands rely on data – to make the right business decisions, to deliver exceptional customer experiences and to stay ahead of the competition. This reliance on data brings with it a need for simplicity, speed and scale. SingleStore delivers the world’s fastest distributed SQL database for data-intensive applications, SingleStoreDB. By combining transactional and analytical workloads, SingleStore eliminates performance bottlenecks and unnecessary data movement to support constantly growing, demanding workloads. Digital giants like Hulu, Uber and Comcast, and many more of the world’s leading SaaS providers choose SingleStore to unleash the power of their data – supercharging exceptional, real-time data experiences for their customers. Follow us @SingleStoreDB and @SingleStoreDevs on Twitter or visit www.singlestore.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220830005215/en/

CONTACT: Jessica Rampen

Director of communications & PR at SingleStore

jrampen@singlestore.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: INTERNET DATA MANAGEMENT APPS/APPLICATIONS TECHNOLOGY SOFTWARE

SOURCE: SingleStore

Copyright Business Wire 2022.

PUB: 08/30/2022 09:00 AM/DISC: 08/30/2022 09:02 AM

http://www.businesswire.com/news/home/20220830005215/en