Investors Give the MarkLogic Enterprise NoSQL Database Platform a Strong Vote of Confidence as the Defacto Standard For Managing Enterprise Data
MarkLogic Corporation today announced it has closed a $102M round of funding to fuel growth to satisfy global market demand for the MarkLogic® Enterprise NoSQL database platform. The funds will be used to accelerate the company’s global market expansion across Europe, Japan and Asia Pacific, expand its thriving partner ecosystem, and to support continued innovation of the industry’s only new-generation database platform purpose-built for the enterprise. The funding was led by Wellington Management Company LLP and included participation from new investor Arrowpoint Partners, existing investors Northgate Capital, Sequoia Capital, Tenaya Capital, and Gary Bloom, president and CEO of MarkLogic.
“We ended last fiscal year as the largest NoSQL company in the industry as our customers recognized the unmatched innovation and capability of the MarkLogic enterprise-ready database platform. Only MarkLogic can integrate, manage and operationalize both structured and unstructured data, solving a critical data challenge that relational technology was not designed to handle and delivering faster time to results for our customers,“ said Gary Bloom, president and CEO, MarkLogic. “This funding further cements our path of growth as we prepare for the next chapter in the company’s history. Like our visionary customers and partners, our investors understand the new market opportunity and are placing their confidence in MarkLogic.”
Big Data has changed the IT landscape and is driving a generational shift in the database industry for the first time in over 30 years. Traditional database management systems were not designed to manage the dynamic nature of new data nor integrate and access heterogeneous data that has become the norm in almost every global organization. In recent years, many open source NoSQL technologies have attempted to resolve the data integration issue and while developers liked the flexibility of these solutions, they ignored the needs of the enterprise. The lack of essential enterprise features like data reliability, transactional consistency, security and availability have kept open source technologies from being a viable alternative to traditional relational databases for mission-critical applications.
Global enterprises are rapidly realizing that MarkLogic is the ideal database platform for managing today’s data as it has the unique combination of enterprise-hardened features found in relational databases and the flexibility and scalability of NoSQL. In October 2014, the company entered the Leaders Quadrant in the Gartner, Inc. Operational Database Management Systems Magic Quadrant and is also the most trusted Enterprise NoSQL solution that for over 13 years has grown a customer roster of more than 550 global enterprises and government agencies that have deployed the platform in production. With modern technology and a proven business model, MarkLogic stands alone amongst all the NoSQL vendors.
Major companies across a variety of industries and around the globe are aggressively adopting MarkLogic software including Aetna, BBC, Broadridge Financial, Centers for Medicare and Medicaid Services (CMS), Dow Jones, Federal Aviation Administration (FAA), Hannover Re, McGraw-Hill Financial, National Archives and Records Administration (NARA), NBC Entertainment, Répertoire International de Littérature Musicale, U.S. Department of Agriculture (USDA), and U.S. Navy. Also, six of the top ten global banks rely on MarkLogic for transactional operations.
Allen & Company served as financial advisor to MarkLogic and assisted the company in arranging the financing that was oversubscribed from the company’s initial target of $70M. MarkLogic’s previous rounds of financing totaled $71M since the company’s inception.