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MongoDB the Highest Flyer in Big Data

Mongodb-databaseHaving recently raised $150 million in financing to accelerate its global expansion, MongoDB now qualifies as the most funded big data startup company. The round included industry heavy hitters such as Salesforce and Intel, Altimeter Capital, T. Rowe Price Associates, Sequoia Capital plus a unnamed financial services company as lead investor. The new participation brings the NoSQL vendor’s total funding to a record $213 million.

MongoDB offers a highly scalable NoSQL database system that has become the darling of the big data industry. The platform has been downloaded over 5 million times, and deployed by many notable companies such as SAP, MTV Networks, Foursquare. Max Schireson, CEO of MongoDB, observes:

Adoption of MongoDB has grown explosively over the last few years. 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.

As part of its aggressive growth strategy, MongoDB will expand its partner ecosystem and target new markets. The company also plans to double its headcount to 600 over the next 12 months.

Originally known as 10gen, the company changed its name to MongoDB in August 2013 to match the NoSQL technology that it developed and supports. The company said in an announcement of the news that the name unifies the open-source database project with the company behind it.

 

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