IBM Invests Into SingleStore

SingleStore, Inc. announced that IBM Corp. has invested in the company by joining its recently announced series F round of funding.

It is on a mission to unify all data for the moments that matter by providing a cloud database, one that is distributed, cloud native, multi model and based on a relational foundation. IBM’s long history of investment and innovation in data and AI is a validation of the SingleStore technology and vision. 

The investment by IBM Ventures enables further collaboration between the 2 companies, which will allow customers to unlock data wherever it resides in the cloud, on-premises, across hybrid cloud environments, and beyond. This investment expands an existing partnership between them, including SingleStore’s availability on IBM Cloud Pak for Data, certification on Red Hat OpenShift, and its availability in the Red Hat Marketplace.

“For many enterprises, data has largely remained siloed and dispersed, keeping it from being readily accessible and usable for them to apply AI and make informed business decisions,” said Daniel Hernandez, GM of IBM Data and AI. “IBM helps clients overcome these barriers with a data fabric architecture delivered through IBM Cloud Pak for Data to give them access to trusted data, wherever it resides. With IBM’s investment in SingleStore, we continue our focus to make sure clients can break down silos and put their data to work.”  

“SingleStore is thrilled to extend our partnership with IBM, an AI, data and IT pioneer that continues to revolutionize how enterprises, organizations and people operate and thrive,” said Raj Verma, CEO, SingleStore. “Our expanded relationship with IBM is 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 and their customers.”

Going forward, IBM and SingleStore intend to collaborate in areas that will help customers more easily govern diverse distributed data, accelerate data access, and simplify data management. One example is helping to deliver a data fabric architecture to clients, which can allow them to remove the complexities that come with accessing and managing distributed data by providing unity, governance and making it available across the enterprise to all users.
 
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