MENLO PARK, CA--(Marketwire - Sep 21, 2011) - Neo Technology raised the stakes for NOSQL in the Enterprise today with $10.6 million in Series A venture capital funding. The investment will be used to fuel product development in the rapidly growing industry, meet the needs of Neo's expanding customer base, and further deliver on its vision for driving NOSQL into the enterprise. Chris Barchak of Fidelity Growth Partners Europe has joined the company's board along with industry veteran Rod Johnson -- the founder and former CEO of SpringSource -- who participated in the funding and will become board Chairman.
The funding was led by Fidelity Growth Partners Europe, a venture and growth capital investment firm with a global network and a 40-year history of venture investing. Seed investors, Sunstone Capital and Conor Venture Partners, also participated in the round. Today's news is the latest in a string of announcements that indicate the NOSQL space is maturing. Over the past month, Neo Technology, Couchbase and 10Gen/MongoDB have collectively raised over $54 million.
Neo Technology delivers Neo4j, the NOSQL Enterprise Open source database. Neo4j, based on a robust, flexible and scalable graph database engine, is the industry's only NOSQL database capable of solving the complex, connected data challenges that enterprise application developers face today. Unique to NOSQL databases, Neo4j caters to enterprise developers with mature support for transactions, high availability, first-class Java support, and ease of development.
As the world of data explodes in volume and complexity, many applications and databases have difficulty handling sophisticated queries with high performance. Neo Technology addresses such challenges by providing a NOSQL database that is transactional, durable, and can scale to handle complex, ever-changing data and its associated requirements. As enterprise adoption of NOSQL accelerates and more companies look to bring on known and trusted 'enterprise ready' tools, Neo Technology is emerging as the leading provider of NOSQL for the enterprise.
Supporting Quotes
"Enterprises need to take full advantage of the huge amount of data that flows through their business systems daily. Companies need real time data processing capabilities with a flexible data model and scalability, which Neo4j offers. Investor confidence, as well as the ongoing validation from our partners and customers, underscores the work we've done to date. We do, however, owe our achievement to our large and fast-growing community of developers who have contributed to the success of Neo4j. With their ongoing support, loyalty and consistent feedback throughout the years, Neo is able to realize its vision of delivering Neo4j to the enterprise."
-- Emil Eifrém, CEO, Neo Technology
"Fidelity is focused on helping great entrepreneurs build successful companies and we are extremely excited to invest in a huge market opportunity for NOSQL. With big data challenging the enterprise, the notion of a 'one-size fits all' database is over. Neo represents a new generation of database vendors, as more and more companies look for trusted NOSQL in a post-relational world."
-- Chris Barchak, Principal, Fidelity Growth Partners Europe
"Spring framework made it easy for developers to create business applications -- simplifying application code while scaling to enterprise complexity. Neo4j strikes the same balance of simplifying the management of interconnected data, while scaling to extreme complexity. The NOSQL space is extremely important, and I am excited about being involved in Neo, which offers compelling advantages as the market matures."
-- Rod Johnson, SpringSource CEO, founder and Senior Vice President, Application Platform, VMware
"Viadeo is the largest Professional Social Network in Europe and China. Our quick growth forces us to always be up-to-date with brand new technologies. We evaluated all the NOSQL databases and chose Neo4j as our database for its performance and the simplicity of the solution."
--Christophe Thibault, CTO, Viadeo
"Neo Technology is an example of a new generation of lean startups that leverage both open source technology and deep relationships with enterprise customers. Having gained product/market fit, this funding will now enable fast and widespread global adoption of Neo4j in the enterprise."
---Eric Ries, Advisor, Neo Technology
"In order for an enterprise to be successful or even to survive in the future, it will need to take full advantage of the huge amount of data that flows through its databases. To be able to react fast, companies need real time data processing capabilities with a flexible data model and scalability."
-- Sami Ahvenniemi, founding partner, Conor Venture Partners
Tweet This: @Neo4j closes $10.6 million Series A funding; @springrod and @cbarchak join board http://bit.ly/qhBsLD
Supporting Resources
For more information visit: neotechnology.com
Link to company press page: neotechnology.com/about-us/press
Follow us on Twitter: http://twitter.com/#!/neo4j
About Fidelity Growth Partners Europe
Fidelity Growth Partners Europe is a venture and growth capital investor which backs entrepreneurs with aspiration for greatness in the IT and clean technology sectors. By combining a collaborative approach with a global network and a 40-year history of venture investing, FGPE helps companies accelerate their growth and become true leaders in their field. A strong track record in Europe includes investments in market leaders such as Seatwave, Innogames and Curam Software. In January 2010, FGPE raised a GBP100 million fund dedicated to backing European technology companies.
About Neo Technology
Neo Technology is the NOSQL database company for the enterprise. The company's robust, flexible and scalable graph database engine, Neo4j, is the only database currently available solving complex data challenges for enterprise applications. Based on eight years of development, Neo4j is a fully transactional database, which enables customers including Adobe and Cisco and to tackle complex data problems. Neo Technology is a privately held company funded by Fidelity Growth Partners Europe, Sunstone Capital and Conor Venture Partners, and is headquartered in Menlo Park, CA. For more information, visit www.neotechnology.com.
Contact Information:
Contact:
Julie Tangen
Kulesa Faul
(831) 425-1083