MongoDB Closes $150 Million in Funding
Largest Ever Single Funding Round for a Database Company Underscores MongoDB’s Market Leadership and Growth Opportunity; Company will Invest in Additional R&D and Global Operations
NEW YORK—October 4, 2013—MongoDB today announced it has secured $150 million in financing, led by a global financial services company and by certain funds and accounts advised by T. Rowe Price Associates, Inc., 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 $231 million 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,” said Max Schireson, CEO 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 organizations 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,” 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, “said Luis Robles, Venture Capitalist 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 a thriving open source global community with over 5 million downloads, 100,000 online education registrations, 20,000 user group members and 20,000 MongoDB Days attendees.
Thousands of organizations have chosen the MongoDB document-oriented database due to its agile and scalable approach. Common use cases include operational and analytical big data, content management and delivery, mobile and social infrastructure, user data management and data hub.
MongoDB has dual U.S. headquarters in Palo Alto, Calif., and New York; EMEA headquarters in Dublin, and APAC headquarters in Singapore. The company also has six additional offices in Atlanta, Barcelona, London, Sydney and Washington D.C.
The company currently has more than 320 employees worldwide.