SingleStore, which offers an SQL-based service to help enterprises use data from disparate silos, raises $80M Series F, sources say at a $940M valuation
Organizations are swimming in data these days, and so solutions to help manage and use that data in more efficient ways will continue to see a lot of attention and business.
Context & Ripple Effects
This round caps a fast climb for SingleStore: barely nine months after its $80M Series E led by Insight Partners in December 2020, the company is back with another $80M, now at a reported $940M valuation — knocking on unicorn status on the strength of its SQL-based pitch for querying data spread across enterprise silos.
The raise lands in a segment where large cheques have become the norm rather than the exception: Fivetran's Series B for warehouse data movement, AtScale's $50M Series D for BI pipelines, and Cohesity's $250M round at a $2.5B valuation all preceded it, and the trajectory held — within a year SingleStore tacked on a $116M Series F extension led by Goldman Sachs that pushed it past $1B.
First-order effects
- SingleStore gains $80M of runway to scale its unified-SQL platform while staying private below the $1B mark, giving sales and engineering budgets comparable to far larger rivals in the data-infrastructure pack.
Second-order effects
- Vendors attacking adjacent parts of the stack — Fivetran on moving data into warehouses, AtScale on feeding BI tools — now face a competitor funded to collapse those handoffs into one queryable layer, pressuring them to deepen their own platforms or cede the integration layer.
Third-order effects
- If the funding cadence holds — Cohesity at $2.5B, SingleStore past $1B within months, and eventually Vast Data raising $1B at a $30B valuation for AI-oriented data infrastructure — the data-management layer consolidates around heavily capitalized platform players, squeezing out point tools that only move or store data.
The trend: Enterprise data infrastructure is absorbing ever-larger venture rounds as capital concentrates in unified platforms that promise one queryable layer over fragmented silos.