SOURCE: 10gen

10gen

September 12, 2011 06:00 ET

10gen, Sponsor of MongoDB, Announces $20M in Funding

Company to Deliver on Global Demand for MongoDB so Enterprises and Web Properties Can Tackle Their Big Data Challenges

NEW YORK, NY and SAN FRANCISCO, CA--(Marketwire - Sep 12, 2011) - 10gen, which sponsors leading open source non-relational database MongoDB, today announced it has secured $20 million in financing, led by Sequoia Capital and with participation from 10gen's other existing investors Flybridge Capital and Union Square Ventures. The infusion of capital will enable the company to meet growing global demand for MongoDB across enterprises, media, gaming and government organizations by expanding customer service and research and development in Europe and Asia, and the addition of new offices in Ireland and the United Kingdom. 10gen also continues to build its leadership team, appointing technology veteran Erik Frieberg to the role of vice president of marketing and alliances.

News Highlights:

  • 10gen and MongoDB have experienced major growth in enterprise organizations and now power major projects for global leaders including Disney, Ericsson, Viacom, Telefonica and SAP. With more than 400 customers, 10gen's customer base has increased over 150% from the previous year.
  • To accommodate global demand for MongoDB, 10gen is opening new offices in Ireland and the United Kingdom, and expanding its presence, customer service and research and development in Europe and Asia.
  • Developer support for MongoDB continues to grow with more than 100,000 downloads monthly. Software developers and data architects are anticipated to gather in unprecedented numbers at MongoUK in September and MongoSV in December.
  • 10gen has appointed a new Vice President of Marketing and Alliances, Erik Frieberg. He brings more than 20 years of industry experience in marketing, product management and corporate strategy from large companies including HP Software, Borland, BEA as well as startups such as KIVA, Persistence and Netscape.
  • $20 million in new funding brings the total raised since the company's inception in 2007 to more than $31 million.

Quotes:

  • "Customer demand for NoSQL solutions has continued to accelerate. 10gen has emerged as a market leader because of the breadth of use cases addressed by MongoDB and because of the vibrancy of its developer ecosystem. We are thrilled to be 10gen's business partner and to help Dwight and his team build an enduring company." -- Luis Robles, partner at Sequoia Capital
  • "MongoDB is a practical database for overcoming practical problems that engineers in the real world face. MongoDB is designed by people who built large-scale web apps, and they want to build the perfect database for the web apps that they were building and solve practical problems that their customers actually have. I think over the next couple of years it's only going to continue to evolve into a database that just makes our jobs easier as application developers, which is fantastic." -- Harry Heymann, lead server engineer at foursquare, at MongoNYC 2011
  • "The new capital allows 10gen to expand rapidly in support of the incredible growth of MongoDB. Cloud computing and the explosion of data volumes make these new technologies critical. The hard work and collaboration of the project's community have made MongoDB the emerging standard in this space." -- Dwight Merriman, CEO of 10gen

About 10gen
10gen develops MongoDB, and offers production support, training, and consulting for the database. Thousands of leading Web 2.0 companies as well as major Fortune 500 enterprises have adopted MongoDB. 10gen is funded by Sequoia Capital, Flybridge Capital Partners, and Union Square Ventures. 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, Tony Hsieh of Zappos, Omar Hamoui of Admob, Steve Streit of Green Dot and Reid Hoffman and Jeff Weiner of LinkedIn. To learn more about Sequoia Capital visit www.sequoiacap.com/us.

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. www.flybridge.com.

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.

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