Welcome!

Artificial Intelligence Authors: Zakia Bouachraoui, Pat Romanski, Yeshim Deniz, AppDynamics Blog, Roger Strukhoff

News Feed Item

10gen Raises $42 Million Financing Round Led by New Enterprise Associates

10gen to Continue Growing Research & Development Investment for MongoDB

NEW YORK, NY and PALO ALTO, CA -- (Marketwire) -- 05/29/12 -- 10gen, the company behind MongoDB, today announced it has secured $42 million in financing, led by New Enterprise Associates, with participation from existing investors Sequoia Capital, Flybridge Capital Partners and Union Square Ventures. The company will use this financing to invest in product development for MongoDB and the MongoDB Monitoring Service (MMS) and to better support its rapidly growing community and user base worldwide.

MongoDB is the dominant NoSQL database, with top enterprises in Telecommunications, Financial Services, Media, Government and Technology standardizing on MongoDB. The company has experienced tremendous traction in the market with 50% quarter over quarter sales growth for the past five quarters. 10gen has grown its team over 400% since January of 2011 and continues to invest strongly in technology with the majority of its 130 employees in the Technology team.

"We want to change the database market, to make MongoDB the best way for companies to build new applications," said Dwight Merriman, CEO of 10gen. "Our goal is to give tech teams not only a database that scales to any big data level required but also helps developers be productive and more nimble. That has been the vision of the MongoDB open source community and we want to continue to help make that happen."

"I've had my eye on 10gen and their amazing trajectory for several years. They've solidified themselves as the dominate player in the NoSQL market and a real disrupter in the database space in general," said Harry Weller, general partner at New Enterprise Associates. "The NoSQL market is exploding and we see MongoDB becoming the de-facto database for both Web 2.0 companies and large enterprises. We see nothing but continued growth for the company and the MongoDB community."

Additional Highlights:

  • Investors include New Enterprise Associates, Sequoia Capital, Flybridge Capital Partners and Union Square Ventures.
  • $42 million in new funding brings the total raised since the company's inception to more than $73 million.

10gen is hiring!

Interested in joining the 10gen team to build the next revolution in database technology? Numerous positions are open in 10gen's offices around the world including California, Dublin, London, New York and Sydney. Visit the 10gen career page for more information on open positions and working with the vibrant community around MongoDB.

About 10gen

10gen initiated the MongoDB project and continues to be the primary contributor and continual sponsor of MongoDB, offering production support, training, consulting and online management services for the database. Thousands of leading Web 2.0 companies as well as Fortune 500 enterprises have adopted MongoDB. 10gen is funded by Flybridge Capital Partners, New Enterprise Associates, Sequoia Capital and Union Square Ventures. For more information, visit www.10gen.com or www.mongodb.org

About NEA

NEA is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With about $11 billion in committed capital, the firm invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. NEA's long track record of successful investing includes more than 170 portfolio company IPOs and more than 290 acquisitions. For additional information, visit www.nea.com.

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.

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 seed and early-stage investing in technology markets and is led by a team with domain expertise and more than half a century of combined experience in venture capital. The firm has invested in over 60 companies including 10gen, Brontes Technologies (acquired by 3M), Cartera Commerce, DataXu, Digital Lumens, Open English, Reveal Imaging (acquired by SAIC) and ZING (acquired by Dell). For more information, visit www.flybridge.com or follow us on Twitter @flybridgecap.

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.

Media Contact:
Darah Roslyn
Schwartz MSL for 10gen
(415) 817-2519
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
AI and machine learning disruption for Enterprises started happening in the areas such as IT operations management (ITOPs) and Cloud management and SaaS apps. In 2019 CIOs will see disruptive solutions for Cloud & Devops, AI/ML driven IT Ops and Cloud Ops. Customers want AI-driven multi-cloud operations for monitoring, detection, prevention of disruptions. Disruptions cause revenue loss, unhappy users, impacts brand reputation etc.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Atmosera delivers modern cloud services that maximize the advantages of cloud-based infrastructures. Offering private, hybrid, and public cloud solutions, Atmosera works closely with customers to engineer, deploy, and operate cloud architectures with advanced services that deliver strategic business outcomes. Atmosera's expertise simplifies the process of cloud transformation and our 20+ years of experience managing complex IT environments provides our customers with the confidence and trust tha...
The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get tailored market studies; and more.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility.
Today's workforce is trading their cubicles and corporate desktops in favor of an any-location, any-device work style. And as digital natives make up more and more of the modern workforce, the appetite for user-friendly, cloud-based services grows. The center of work is shifting to the user and to the cloud. But managing a proliferation of SaaS, web, and mobile apps running on any number of clouds and devices is unwieldy and increases security risks. Steve Wilson, Citrix Vice President of Cloud,...