NoSQL Database Vendor MongoDB Secures $150 Million in Funding

nosql-database-mongodbMongoDB 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. The company will use these funds to further invest in the core MongoDB project and its suite of tools and services to operate MongoDB at scale.

With more than $231 million in total investment since the company’s inception in 2007, MongoDB would now be the best-funded Big Data technology. The company also claims that its financing marks the largest single funding round for any database vendor, NoSQL or otherwise.

MongoDB has a comprehensive global open source community with over 5 million downloads, 100,000 online education registrations, 20,000 user group members and 20,000 MongoDB Days attendees.

320 employees worldwide

The database supplier has dual U.S. headquarters in Palo Alto, Calif., and New York. Its EMEA headquarters are in Dublin, whereas the APAC headquarters are located in Singapore. MongoDB also has six additional offices in Atlanta, Barcelona, London, Sydney and Washington D.C. The company currently employs more than 320 people worldwide.

The venture capital funding is 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.

“Big winners in competitive market”

“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.”

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