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SingleStore (MemSQL)

Enterprise SoftwareUSA
New to Unitard
βœ‚οΈ Markdown
  1. πŸ¦„
    Became a unicorn
    Jul 2022
  2. πŸ“ˆ
    Peak valuation
    $1.32 Billion ’22
  3. πŸ’”
    Became a Unitard
    ~2023
  4. πŸ’Έ
    Last valuation
    β€”
Current status
Private; Vector Capital majority buyout reported near $500M (Sep 2025), below ~$1.3B peak

The rise & fall

6 moments Β· 2011–2025

The key moments, with employee sentiment along the way.

2011
Founded as MemSQL
Ex-Facebook engineers Eric Frenkiel and Nikita Shamgunov build a fast in-memory SQL database out of Y Combinator.
Wikipedia
Jul 2022
The peak: the $1.32B Series F-2$1.32B
The round that makes SingleStore a unicorn is also the high-water mark.
Bloomberg
From the inside Β· Glassdoor reviews, 2022–23
Glassdoor reviews from that stretch praised the database technology and engineering talent while flagging churn at the top β€” several C-suite departures in a short span β€” and an IPO employees said kept receding.
2023
Marked out of the club
Secondary-market pricing drifts below the $1B line while the IPO window stays shut.
Bloomberg
Sep 2025
Vector Capital takes the wheel at ~$500M$500M
A majority buyout reported near $500M β€” well under half the 2022 peak.
Bloomberg

πŸ’¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β†—; dated facts carry their source.

How it happened

SingleStore (formerly MemSQL) provides a database platform for modern data workloads spanning transactions, analytics and AI. Last valued near $1.32B (Series F-2, 2022), it later fell out of the unicorn club; in 2025 Vector Capital took a majority stake in a deal reported near $500M.

Source: Bloomberg; Vector Capital majority buyout ~$500M, Sep 2025

Founders & leadership

  • Raj Verma
    CEO
    Still there β€” Chief Executive OfficerLinkedIn β†—
  • Eric Frenkiel
    co-founder & CEO (Stanford; came from Facebook partner engineering)
    Now Founder and CEO at PomeloLinkedIn β†—
  • Nikita Shamgunov
    co-founder & CTO (a decade on the SQL Server kernel team at Microsoft)
    Now Vice President at DatabricksLinkedIn β†—
  • Adam Prout
    co-founder & chief architect
    Now Distinguished Engineer & VP at MicrosoftLinkedIn β†—

Current roles as self-reported on LinkedIn, retrieved 2026-08-20. See our methodology.

Disclosed investors (22)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round Β· Crunchbase β†— Β· 2026-10-13 Β· Methodology Β· Leaderboard

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