MongoDB, a US-based, big data technology company which provides document-oriented databases for enterprises, has secured $150m in financing, led by an unspecified financial services company and US-based fund T Rowe Price, together with new investors, alternative asset management firm Altimeter Capital and customer relationship management software company Salesforce.com; the round included participation from existing investors Intel Capital, the strategic investment arm of microprocessor maker Intel, software producer Red Hat, and venture capital investors NEA and Sequoia Capital.
MongoDB has raised more than $231 million in total investment since the company’s inception in 2007.
The company will use the latest funds to further invest in its core MongoDB project as well as in MongoDB Management Service.
Max Schireson, chief executive officer at MongoDB, said: “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.”
Harry Weller, general partner, NEA, said: “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. Since then the growth of the user base, product maturity and team has only exceeded our expectations.”
Luis Robles, venture capitalist at Sequoia Capital, said: “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. 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.”