December 02, 2010 13:06 ET
10gen Advances MongoDB's Lead in the NoSQL Market Adding Sequoia Capital as New Investment Partner
Raises $6.5M Funding for Continued MongoDB Development; 500 to Attend MongoSV Conference on Friday
NEW YORK, NY--(Marketwire - December 2, 2010) - 10gen, the open-source software company developing the leading non-relational database MongoDB, today announced it has completed a $6.5 million round of financing. The financing was led by Sequoia Capital with participation from prior investors Flybridge Capital Partners and Union Square Ventures.
"The investment validates that the market is shifting to non-relational operational data stores with MongoDB as the leading solution," said Dwight Merriman, CEO of 10gen. "Thanks to the MongoDB community, the project is very successful and we look forward to continuing work on making it a great open source solution for hard data storage problems."
With over 90,000 downloads per month, MongoDB is the leading NoSQL technology for building agile applications. Large-scale deployments at companies like bit.ly, foursquare, IGN, and SourceForge highlight MongoDB's strength as an operational data store for the web.
"MongoDB is in the sweet spot of performance and features," said Chandra Patni of IGN. "Its rich data types, querying, and in place updates reduced development time to minutes from days for modeling rich domain objects."
Both startups and Fortune 100 companies are deploying the technology for a broad set of use cases that includes content management, event logging, web data storage, and real time analytics. 10gen provides commercial support, training, and other services for MongoDB.
"Unabated data growth clearly demonstrates the need for database innovation and NoSQL solutions," said Roelof Botha, Partner from Sequoia Capital. "Users are effusive about improvements in agility and scalability afforded by MongoDB, and 10gen is well positioned to deliver elasticity of data as a complement to private and public cloud computing applications."
This week 10gen will be hosting MongoSV at Microsoft Research Silicon Valley. MongoSV will be the highlight of a series of conferences dedicated to application development with MongoDB. Several key customers and early adopters will present their implementations of MongoDB. Over 500 engineers, CTOs, and database architects are registered for the sold-out event.
Founded in 2007 with offices in Redwood Shores, CA and New York, NY, 10gen sponsors the open source MongoDB project, and provides commercial support for MongoDB. MongoDB (from "humongous") is a high-performance, open-source, schema-free non-relational database. MongoDB provides a unique combination of agile development and scalable data storage. For more information, visit www.10gen.com or www.mongodb.org.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs," Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of NVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Networks, Jonathan Kaplan of Pure Digital, Tony Hsieh of Zappos, Omar Hamoui of AdMob, and Steve Streit of Green Dot. To learn more about Sequoia Capital visit www.sequoiacap.com.
About Flybridge Capital Partners
Flybridge Capital Partners is an early-stage venture capital firm whose mission is to assist entrepreneurs in growing innovative, global companies. With $560 million under management, the firm is focused on investing in consumer, energy, healthcare and information technology markets and is led by a team with domain expertise and more than half a century of combined experience in venture capital. For more information, visit www.flybridge.com.
About Union Square Ventures
Union Square Ventures is an early stage venture capital firm located in New York City. USV invests in web-based services that disrupt markets by capitalizing on ubiquitous connectivity and innovative business models. USV's current portfolio includes Twitter, Indeed and Etsy and past investments include FeedBurner (acquired by Google), TACODA (acquired by AOL) and del.icio.us (acquired by Yahoo!).