Database provider for Cloud-native Applications, MemSQL secured $50 Million in Debt Financing

San Francisco based MemSQL offers The No-Limits Database. The company is backed by Accel, Khosla Ventures, Data Collective, IA Ventures, Caffeinated Capital, Glynn Capital, and GV. MemSQL has raised a total of $158.1M in seven funding to date.

Executive Opinion

MemSQL CEO, Raj Verma, said, "This is a strong vote of confidence for MemSQL’s future. Our FY20 financial performance concluded with an impressive 70% growth in annual recurring revenue (ARR), and with a single-digit cash burn, our current ARR vs. cash outlay ratio is less than one. We are a well-run, well-capitalized business. As we move forward, our charter remains the same. MemSQL will always prioritize our customers’ success by delivering world-class products and services, increasing shareholder value, and contributing to our community in every way we can."

Steve Kuo, senior managing director technology group head for Hercules, said, "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. We are impressed with the work that the MemSQL management team has accomplished operationally and excited to begin our partnership with one of the promising companies in the database market."

MemSQL's Database Platform

Its Helios cloud database is available on GCP, Azure, and AWS cloud platforms since 2019. 

Infosys, Tata Consultancy Services, Virtusa, IBM and Fiserv are some of the partners of MemSQL. These partners deliver MemSQL based solutions to their clients, notes the announcement.