UPDATED 20:35 EDT / MAY 11 2020

memsql BIG DATA

Distributed database startup MemSQL raises $50M in debt financing

SQL-based in-memory distributed database startup MemSQL Inc. said today it has raised $50 million via a debt facility to deliver new products and services to accelerate its growth. The debt financing was underwritten by Hercules Capital.

Founded in 2011, MemSQL offers what it calls a No-Limits Database designed to power modern applications with a cloud-native scalable architecture.  The distributed relational database uses SQL to query massive amounts of data while also supporting both transaction processing and analytics on the same engine.

MemSQL says that eliminates the need for a time-consuming extract/transform/load procedures and enables users to analyze more recent data. A test in 2018 showed that it can scan more than a trillion rows of data per second on a cluster with 12 servers.

Offered in free and paid versions, the database can be deployed on public cloud platforms as well as on-premises in data centers and in hybrid environments. Helios, a hosted cloud database service launched by the company in 2019, is available on Amazon Web Services, Google Cloud and Microsoft Azure.

The ability to offer a database that scales has provided MemSQL a willing audience. The company says it has hundreds of enterprise customers, including many in the Fortune 500. Notable customers include Uber Technologies Inc., Dell EMC, Cisco Systems Inc., Samsung Electronics Co. Ltd., Akamai Technologies Inc., Pandora Inc., Intel Corp., Verizon Communications Inc. and Sony Corp.

“Our FY20 financial performance concluded with an impressive 70% growth in annual recurring revenue and with a single-digit cash burn, our current ARR vs. cash outlay ratio is less than one,” MemSQL Co-Chief Executive Officer Raj Verma said in a statement. “As we move forward, our charter remains the same.”

Including the new debt financing, MemSQL has raised $158.1 million to date. Previous investors include GV, Glynn Capital, Accel, Khosla Ventures, Caffeinated Capital, Data Collective and IA Ventures. The company’s last two venture capital rounds were $30 million in 2018 and $36 million in 2016.

Image: MemSQL

Since you’re here …

Show your support for our mission with our one-click subscription to our YouTube channel (below). The more subscribers we have, the more YouTube will suggest relevant enterprise and emerging technology content to you. Thanks!

Support our mission:    >>>>>>  SUBSCRIBE NOW >>>>>>  to our YouTube channel.

… We’d also like to tell you about our mission and how you can help us fulfill it. SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.The journalism, reporting and commentary on SiliconANGLE — along with live, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take a lot of hard work, time and money. Keeping the quality high requires the support of sponsors who are aligned with our vision of ad-free journalism content.

If you like the reporting, video interviews and other ad-free content here, please take a moment to check out a sample of the video content supported by our sponsors, tweet your support, and keep coming back to SiliconANGLE.