Big data developer MongoDB has sealed $150m in financing, led by financial services group T Rowe Price Associates, with additional new investors Altimeter Capital and salesforce.com. The round includes participation from existing venture capital backers Intel Capital, NEA, Red Hat and Sequoia Capital.
With more than $231m in total investment since the company’s inception in 2007, MongoDB is now the best-funded big data technology developer. MongoDB’s financing marks the largest single funding round for any database vendor, NoSQL or otherwise.
The company said it will use these funds to further invest in the core MongoDB project as well as in its suite of tools and services to operate it at scale. In addition, the company will extend its efforts in supporting its growing user base throughout the world.
“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,” said Harry Weller, general partner, NEA. “Since then the growth of the user base, product maturity and team has only exceeded our expectations.”
“With this round, MongoDB establishes itself as the database of the future, with by far the strongest product, community, team and financial backing in the industry,” added Luis Robles, at Sequoia Capital. “They are in a very large and competitive market, but they have all the ingredients to be big winners and we are delighted to be their business partners.”
MongoDB has dual US headquarters in Palo Alto and New York; EMEA headquarters in Dublin, and APAC headquarters in Singapore.
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