Neo4j, a US-based graph technology provider backed by internet and technology conglomerate Alphabet and telecommunications company Deutsche Telekom’s investment affiliate, DTCP, extended its series F round to $390m on Tuesday.
Inovia Capital led the $65m extension and was joined by Alanda Capital Management and One Peak Partners, bringing the company’s total funding to about $580m. Inovia partner Patrick Pichette is joining its board of directors in conjunction with the funding.
Founded in 2007 as Neo Technology, Neo4j has developed a graph database software platform that uses artificial intelligence, machine learning, data visualisation and real-time transaction processing to provide businesses with analytical insight into their systems.
The company secured $325m in the round’s Eurazeo-led first tranche, in June this year, which also featuring DTCP and Alphabet’s GV unit.
One Peak, Creandum, Greenbridge Partners and Lightrock filled out the first close at a valuation of over $2bn. At the time, it was billed as the largest funding round in database history, and the proceeds were to be used to expand Neo4j’s market reach, cloud portfolio and graph data science capabilities.
Neo4j’s earlier investors include investment and financial services group Fidelity’s Eight Roads subsidiary in addition to investment bank Morgan Stanley’s Expansion Capital unit, One Peak, Creandum, Greenbridge Partners, Sunstone Capital and Conor Venture Partners.
