As we gather with friends and family for the holidays, I’d like to take a moment to congratulate and express my gratitude to our team. It’s their passion, skill, and talent that has led us to be recognized as one of the top places to work in the Bay Area and as a leading cloud database company.
This is the season for reflecting on the past, giving thanks for the present, and planning for the future. I’m appreciative of the community we have created, and over the past year I have seen the unwavering strength of our people and the staying power of our culture. I couldn’t be prouder. I’d like to take a moment and reflect on the blessings that I am most grateful for this year.
My friends and family
Everything I do, I do for my family. My children are my world; They motivate me to get up every morning and make the most out of every day. Like every family, we have our own ups and downs, but our home is always rich with love. And love is the greatest currency, in my opinion. I am truly blessed with an amazing family and network of supportive, beautiful friends.
Growth
Data is the foundation of accelerating growth and every business must become digital-first to remain competitive. SingleStore enables organizations to leverage data and insights in real-time and provide unprecedented value to themselves and to their customers. This year SingleStore has grown tremendously in many ways. We’ve been fortunate to attract and hire some very talented people. We hired a legal counsel, chief revenue officer, chief innovation officer, and chief marketing officer, all boosting our executive team leadership. Our community is flourishing with help from our recent international expansion into EMEA and Latin America. We also forged a new partnership with Latin America Business Consulting (LATBC) as the exclusive reseller for SingleStore in Mexico, Central America, and the Caribbean.
Just last month, SingleStore ranked No. 126 nationally and No. 37 in the Bay Area in Deloitte’s 2021 Technology Fast 500. This was a significant jump from last year when we ranked No. 488 nationally. The San Francisco Business Times also ranked us no. 35 in its annual list of the Fastest-Growing Private Companies in the Bay Area.
We announced \$82 million in new funding through a Series F round in September and saw a more than 300% increase in new customer acquisitions for our cloud service and more than 150% year-over-year growth in cloud revenue. I credit our highly performant, hybrid multi-cloud database and the ever-growing need businesses have to harness data and transform it into valuable insight for customers with this growth. But we’re just getting started. And cloud DBMS is a huge market with a long runway.
Our talented team
From our engineers who are heavily invested in writing the best code that powers SingleStore, to our dedicated sales team driving adoption of the technology with more than 225 customers and 12 of the Fortune 50 companies, to our newly formed marketing team ensuring we get recognized as leaders in this crowded space, I am beyond grateful to be surrounded by such an inspiring group. I continue to be amazed at all we have achieved, and I look forward to what the future holds.
Database analysts and thought leaders
This year, SingleStore was recognized and praised by prominent analysts, media and thought leaders. I was excited to see SingleStore debut in the Gartner Cloud Database Management Systems Magic Quadrant. This is crucial, as there are very few things that can provide more awareness than inclusion in the Magic Quadrant. The expanded awareness enables us to bring to a broader audience the message that when people try SingleStore, they love it. And our cloud product makes the SingleStore database easily available to a vast community of developers and other users.
This third party validation not only raises our profile but positions us as leaders in some really important conversations in the market like what it truly takes to be successful in this demanding digital services economy we live in. From large enterprises, to startups, to individual engineers, SingleStore is a technology that can revolutionize the way data is managed by decreasing IT complexity and database sprawl. This is a huge opportunity, as the era of specialized database types just won’t suffice in the data intense world we live in. Companies must adapt as we head into a new third era of database management technology, and SingleStore is at the forefront.
Our gracious customers, partners and investors
We would not be where we are today without the unwavering support of our customers, partners and investors. I’d like to thank all our customers who go above and beyond to share their stories on using SingleStore and write reviews raving about the technology – some of which have been cheering us on since the very beginning when we initially launched in 2011.
We were certainly thrilled to see that IBM invested in our Series F funding - just another proof point that SingleStore’s modern cloud database for data-intensive applications is the right solution at the right time. We look forward to working closely with IBM, as SingleStore continues to grow and bring new value to enterprises.
Closing up 2021, we officially signed on our largest partner deal with data analytics leader, SAS, and this is by far one of the greatest developments for us as a company. The integration of SingleStore’s fast, distributed, scalable, SQL-based cloud database into the analytics engine, SAS Viya™, will enable customers to be ahead of the digital services economy and at the forefront of analytics and decision making. I am proud of our team’s efforts on this partnership, and our recent results speak to the tremendous opportunity ahead of us.
2022 and beyond
In 2022 we will lead the way among a new class of modern databases which are distributed, cloud-native, multi-model, and have a relational SQL foundation.
But while I’m so unbelievably proud of this team, we can and should always strive to do better. I’d like to see us take on the challenge of increasing the diversity of our employees, not just at SingleStore, but in the software technology market as a whole. Given that, we plan to continue to support STEM educational programs that are building a pipeline of female engineers like Girls Who Code. We must make investing in educational opportunities for underrepresented groups, and giving back to others a top priority. I am looking forward to providing regular updates on all the great work being done by our new director of employee engagement, diversity and inclusion. Social responsibility is of utmost importance to me, SingleStore employees and our community. We must set an example for others to live up to.
I am extremely thankful for what all we have achieved this year. I wish everyone a very happy holiday season and a healthy new year.
