SingleStore (formerly known as MemSQL) was founded in 2011 by Adam Prout, Eric Frenkiel, and Nikita Shamgunov. Following a $116 million funding round in 2022, the company hired Meaghan Nelson as general counsel. Nelson told reporters that "I feel that my deep experience working closely with companies through the IPO process along with my experience in scaling G&A orgs will be of great value to SingleStore as we continue to achieve new heights."
SingleStore provides database solutions with the goal of "unifying different types of workloads in a single database." The company has raised more than $500 million in venture capital from investors including Goldman Sachs, Prosperity7 Ventures, Dell Technologies, Hewlett Packard, IBM Ventures, and Insight Partners. In 2022, CEO Raj Verma said that SingleStore's valuation "is upwards of $1.3 billion."
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.