SingleStore Announces Growth Buyout Led By Vector Capital; Financial Terms Were Not Disclosed

https://www.singlestore.com/media-hub/releases/singlestore-announces-growth-buyout-led-by-vector-capital/

 

SingleStore, Inc. ("SingleStore" or the "Company"), the leading data platform for enterprise AI, today announced it has entered into an agreement with Vector Capital Management, L.P. ("Vector"), a private equity firm with a nearly three decade track record leading transformational investments in established technology businesses, in which Vector will lead a growth buyout of SingleStore. Raj Verma, SingleStore's Chief Executive Officer, and the Company's established management team, who together have decades of experience in leading fast-growth, AI-first enterprise technology companies, will continue to lead the business. Long-term SingleStore shareholders including Google Ventures, Dell Technologies Capital, IBM, and REV Venture Partners will remain as investors in SingleStore. Several Vector Capital limited partners such as Adams Street Partners, J.P. Morgan Asset Management, the External Investing Group (XIG) at Goldman Sachs Asset Management, Angeles Investments, Lexington Partners, and Performance Equity Management will invest alongside Vector Capital VI, LP in SingleStore. Financial terms were not disclosed.