Monday, January 12, 2015

MongoDB Raises $80M for Next-gen Database

MongoDB, a start-up with headquarters in New York City and Palo Alto, has secured an additional $80 million in funding for its next-gen database.

MongoDB stores data using a flexible document data model that is similar to JSON. Compared to most NoSQL databases, MongoDB provides comprehensive secondary indexes, including geospatial and text search, as well as extensive security and aggregation capabilities. MongoDB makes extensive use of RAM, providing in-memory speed and on-disk capacity. It features auto-sharding for horizontal scale out and native replication enables high availability across racks and data centers. The company says MongoDB is already deployed in applications running across 1,000+ servers.

MongoDB is now used by over 2,000 customers, including 34 of the Fortune 100 and many other companies such as Adobe, ADP, Amazon, AT&T, Bosch Software Innovations, Buzzfeed, Cisco, Craigslist, Dropbox, eBay, eHarmony, Expedia, Foursquare, Facebook’s Parse, Forbes, The Gap, Gilt Groupe, Goldman Sachs, Gov.UK, Intuit, McAfee, MetLife, MTV, O2, Salesforce, Shutterfly and Under Armour.

“The market has reached a tipping point where most developers and IT organizations realize that modern applications cannot continue to be built on relational database technologies. They are shifting to MongoDB in a big way. MongoDB was designed to make it easy to develop applications that require rapid change, massive scale, always-on operation, and support for a large variety of unstructured and semi-structured data, all at significantly lower costs,” said Dev Ittycheria, President and CEO of MongoDB.

The latest funding round was led by a sovereign wealth fund with participation from Goldman Sachs and from existing investors Altimeter Capital, NEA, Sequoia and funds managed by T. Rowe Price Associates, Inc. MongoDB has attracted a total of $311 million from investors, positioning it as the best capitalized next- generation DBMS company in the world.

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