US-headquartered graph technology provider Neo4J received $325m yesterday in a series F round featuring GV, a corporate venturing subsidiary of internet and technology group Alphabet.
Private equity firm Eurazeo led the round at a valuation exceeding $2bn, and DTCP, the investment firm backed by telecommunications firm Deutsche Telekom, also took part, as did One Peak, Creandum, Greenbridge Partners and Lightrock.
Neo4J has created a graph database software platform which specialises in tracking and predicting relationships between people, systems and processes. It is used in generalised analytics as well as fraud detection, knowledge graphs and real-time recommendations.
The round increased the company’s funding to about $515m since it was founded in 2007 as Neo Technology. Fidelity Growth Partners Europe and Sunstone Capital (now known as Eight Roads Ventures and Sunstone Partners) joined Conor Venture Partners to provide $11m in a 2012 round lifting its overall funding to about $24m.
The series B investors returned for a $20m series C round in 2015 led by Creandum and also backed by Dawn Capital. The company added $36m in series D funding from Greenbridge Partners, Eight Roads, Creandum and Sunstone the following year.
One Peak Partners and Morgan Stanley Expansion Capital co-led Neo4J’s $80m series E round in 2018, investing alongside Eight Roads, Creandum and Greenbridge Partners, before the company pulled in $30m from unnamed existing investors in November 2020.
GV general partner Erik Nordlander said: “Neo4j has been steadfast in its vision, and I admire [co-founder and chief executive Emil Eifrem]’s grit and tireless dedication over the years to build and evangelise graph databases.”
