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MongoDB Grabs $150M in Funding, Now Top NYC Startup at $1.2B Valuation

Online database company MongoDB is now the top dog among New York City startups.

MongoDB, formerly 10gen, has raised $150 million in a round led by an unnamed financial services firm, Bloomberg reports. The deal puts MongoDB’s valuation at a lofty $1.2 billion, the highest startup valuation in NYC, sources tell the news site. If that valuation holds true, MongoDB is worth more than Tumblr, which Yahoo acquired for $1 billion this year, and Fab, the shopping site which recently raised $150 million at a $1 billion valuation.

MongoDB Slurps $150m in Mammoth Funding Round

Database upstart MongoDB has slurped $150m of filthy valley lucre to fund development of the NoSQL database in a sector dominated by the lumbering giants of Oracle, IBM, and Microsoft.

The huge funding round was announced on Friday. Salesforce* and Altimeter Capital participated, along with existing investors Intel Capital, NEA, Red Hat, and Sequoia Capital.

MongoDB is a non-relational document-oriented database that has seen widespread developer uptake by young startups and (some) enterprises.

MongoDB Scores Largest Database Funding Round Ever

MongoDB, formerly known as 10Gen, just made big waves in the database market by announcing it had closed a $150 million funding round.

That's the largest single round of funding for a database company ever, and it puts MongoDB's valuation at $1.2 billion.

MongoDB Lands $150 Million; Aims for Big Data, NoSQL Staying Power

MongoDB, an open source NoSQL database company, raised $150 million in additional financing from T. Rowe Price, Altimeter Capital and Salesforce.com.

Existing investors such as Intel Capital and Red Hat also participated to bring MongoDB's total funding to $231 million since 2007.

MongoDB, a play on big data, said it will use the additional funding---the largest round for any database vendor---to invest in the MongoDB project and its management suite. MongoDB's Management Service is a suite of tools to run MongoDB at scale. The company added that it will also use the funding to support its user base, which features 20,000 user group members.

MongoDB Raises $150 Million To Become New York's Most Important Tech Company

The paint was still fresh when I visited MongoDB’s offices in July. The company had recently moved to a 30,000 square foot space, twice the size of their previous digs, to make room for their swelling ranks. Dwight Merriman, the company’s founder, chairman and former CEO, took a break from coding at his standing desk to speak with me for a piece on his longtime partnership with Gilt Groupe chairman Kevin Ryan.

When I pressed him on MongoDB’s valuation, he reluctantly responded, “I’d say a billion is a reasonable number.”

Today the company announced that it’s raised $150 million in new funding at a rumored $1.2 billion valuation. The financing includes participation from T. Rowe Price, Altimeter Capital and salesforce.com, along with Intel Capital, NEA, Red Hat and Sequoia. The company has raised a total of $231 billion in funding.

MongoDB Raises $150M For NoSQL Database Technology With Salesforce Joining As Investor

MongoDBhas raised $150 million from T. Row Price Associates with new investors Altimeter Capital and Salesforce.com. Existing investors Intel Capital, NEA, Red Hat and Sequoia Capital also participated in the round. MongoDB has raised $231 million since the founders started the company in 2007.

The company’s database technology is the most well-known in a field of increasing competition from other NoSQL vendors, SQL powerhouses, in-memory database providers and a new breed of companies that are offering a new form of database-as-a-service. MongoDB and other NoSQL databases use distributed infrastructures on commodity servers and are popular with developer for building mobile and web apps. The MongDB’s technology is document-based.

MongoDB Proves it’s King of NoSQL Databases With $150M in New Funding

More evidence that MongoDB rules in online databases: the company just raised $150 million in new funding from an unnamed global financial services company, EMC, Salesforce.com and Altimeter Capital as well as from existing backers Intel, Red Hat, New Enterprise Associates and Sequoia Capital.

By almost any count, MongoDB is the most-used NoSQL database around. It is the foundation of many web and mobile applications from startups to big, big enterprises. And those apps include mission-critical stuff. For example, EnerNOC, an energy demand specialist os using MongoDB to analyze its power grid data. MongoDB competes with other NoSQL players like CouchDB but is also making its presence felt to legacy database players including market leader Oracle.

MongoDB Becomes King of NYC Startups With $1.2 Billion Valuation

MongoDB Inc., capitalizing on the popularity of its online database software, raised $150 million in a venture-funding round that would make it the most valuable Internet startup in New York.

The deal attracted new investors such as EMC Corp. (EMC) and Salesforce.com Inc. (CRM), along with previous backers Red Hat Inc. (RHT), Intel Corp. (INTC), New Enterprise Associates and Sequoia Capital, according to MongoDB. The round values the company at $1.2 billion, said two people familiar with the matter, who asked not to be identified because the valuation isn’t public.

MongoDB has been quietly building a global database business -- with its sales and headcount more than doubling each year, Chief Executive Officer Max Schireson said. The company is making inroads with its lower-cost software, aiming to threaten the dominance of Oracle Corp. (ORCL)’s relational databases, he said.

“We’re picking up an increasing share of the market and over time that could become a really significant share,” said Schireson, who declined to discuss MongoDB’s valuation. “The volume and type of data and the consumer and developer expectations are so radically different than they were when the relational database was invented.”

MongoDB Raises $150M at $1.2B Valuation, Takes NYC Valuation Lead

Database giant MongoDB has raised $150 million at a $1.2 billion valuation according to Reuters sources. The deal would make it the most highly valued startup in New York. Participants in the round include EMC, Salesforce.com and existing investors, Red Hat, Intel, New Enterprise Associates, and Sequoia Capital. The company reports growing revenue at 100 percent over the last year.

MongoDB Could go Public Within Three Years, CEO says

MongoDB, a New York City-based open source database developer, could be an IPO candidate within three years, said CEO Max Schireson.

Two analysts agreed that an IPO is a possibility for MongoDB, and one said the company could go public in 12 to 24 months. Schireson, however, said the company’s main concern was continued growth, not an IPO — but added the company could go public in three years or less.

“Most large, successful companies go public,” he said. “That is what we want to build".

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