MongoDB has secured USD150m in financing led by a financial services company and certain funds and accounts advised by T Rowe Price Associates, with additional new investors Altimeter Capital and salesforce.com.
The round includes participation from existing investors Intel Capital, NEA, Red Hat and Sequoia Capital.
With more than USD231m in total investment since the company’s inception in 2007, MongoDB is now the best-funded Big Data technology. MongoDB’s financing marks the largest single funding round for any database vendor, NoSQL or otherwise.
The company will use these funds to further invest in the core MongoDB project as well as in MongoDB Management Service, a suite of tools and services to operate MongoDB at scale. In addition, MongoDB will extend its efforts in supporting its growing user base throughout the world.
“Adoption of MongoDB has grown explosively over the last few years,” says Max Schireson, chief executive at MongoDB. “This funding will allow us to continue to invest in the technology and the global operation our customers require. Building the product and company to bring greater agility and scalability to how organisations manage data will require a large and sustained investment. With this additional funding we will have the staying power to make these investments.”
“When we invested in MongoDB last year, we saw a company that had the potential to transform how data is managed in the enterprise and disrupt one of the largest markets in technology,” says Harry Weller, general partner, NEA. “Since then the growth of the user base, product maturity and team has only exceeded our expectations.”
MongoDB has an open source global community with over five million downloads, 100,000 online education registrations, 20,000 user group members and 20,000 MongoDB Days attendees.
