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The San Francisco-based company’s No-Limits Database powers modern applications and analytical systems with a cloud-native, massively scalable architecture so that businesses can make decisions in real time and every experience is optimized through data.
“Structured query language was not used for certain applications because it could not provide the speed and scale, plus it was expensive,” co-CEO Raj Verma told Crunchbase News. “Our database marries real-time operational data on commodity hardware using SQL and provides unprecedented speed and scale more inexpensively.”
MemSQL was founded in 2011, but the business took off in 2013, he said, adding that the company raised a total of $157 million in venture and debt equity. That amount includes a $30 million Series D raise in May 2018, co-led by Glynn Capital Management and GV.
The new capital enables the company to continue focusing on customer, investor and employee successes, as well as to invest in an international presence.
“We have a runway to be cash-flow positive and explore the public markets in the future,” he added.
Today, MemSQL boasts 130 customers, including some of the top banking firms, while its 1-year-old cloud database, Helios, is available on AWS, GCP and Azure.
“This year should be our coming-out party,” Verma said.
Meanwhile, he said he is “thrilled” to be working with Hercules Capital, which, according to the company, is the largest nonbank venture debt provider with more than $2.4 billion in total assets.
In a written statement, Steve Kuo, senior managing director and technology group head for Hercules, called MemSQL “one of the promising companies in the database market.”
“This structured investment represents a significant commitment from Hercules and provides an example of the breadth of our platform and our ability to finance growth-orientated, institutionally-backed technology companies at various stages,” he said.