Leading graph database provider builds momentum as connected enterprises seek value in large volumes of data
Neo Technology, creators of Neo4j – the world’s leading graph database – has secured $36 million in new funding, further propelling graph technology into the mainstream and validating the value of the graph market as the space continues to heat up.
Neo Technology has been awarded a Series D investment of $36M (USD) from Greenbridge Investment Partners and existing investors including Sunstone, Creandum and Eight Roads Ventures.
“This new round of funding builds on the tremendous momentum we’re seeing this year around Neo4j – both development-wise and commercially – as connected enterprises look for real-time value from unprecedented volumes of data and graph databases become the enterprise standard,” said Emil Eifrem, CEO of Neo Technology and co-creator of Neo4j.
Managing Partner at Greenbridge Emanuel Lang explained the firm’s decision to invest in Neo Technology: “Globally, we’re generating more data than ever before through more users, devices and digital processes – so much so that a company’s ability to use this data will determine its competitive position in the future."
“We believe graph databases provide the best technology approach to store, correlate and deliver value from data relationships in real time," Lang continued. "Neo4j is the undisputed leader in that field – with the largest community and customer base, the best technology and a leadership team that has demonstrated the ability to innovate and execute. When we look at the market forces, combined with Neo Technology’s vision and execution, we believe we are investing in a technology as important as the relational revolution led by Oracle.”
The market attention that Neo4j and graph databases are receiving was evident at the recently concluded GraphConnect conference in San Francisco where leading technologists from organisations such as NASA, Marriott, Cablevisión, Cisco and Novartis talked about their use cases to an audience of over 1000 attendees.
To date, Neo Technology has witnessed:
• 2.5M+ downloads of its product
• 200+ customers (from Walmart, eBay, Airbus, adidas, Pitney Bowes and Cisco)
• 1000s of production deployments
• 100+ partners and a thriving community of developers worldwide
• 450 events annually
• 5 consecutive years of growth at GraphConnect, its semi-annual user conference
Neo4j graph technology has already experienced wide-scale adoption in industries ranging from financial services and retail to government and telecommunications, where it is used for mission-critical applications as diverse as real-time pricing, online product and service recommendations, fraud detection, enterprise search and the Internet of Things (IoT).
Booming trends in digitisation, process transformation, AI and machine learning are expected to further broaden the appeal of graph technology.
Neo Technology will use the funds in three key areas of the business: First, on continued research and development of the Neo4j product to further benefit current customers and cement its leading position in the space; second, to expand Neo Technology’s footprint in the enterprise sector (its fastest growing segment) with strategic investments in sales and marketing; third and finally, to build deeper partnerships within the graph technology ecosystem in order to bring a wider range of solutions to existing users and customers.
Greenbridge is a privately-held investment firm with a focus on technology in mature and emerging markets. Greenbridge Partners’ strategy is to make long-term investments in a limited number of holdings in which it can enhance the value as an active shareholder. The team has valuable experience in both technology and strategy and aims to work closely with its portfolio companies’ management to transform businesses into global leaders.
Neo Technology is the creator of Neo4j, world’s leading graph database. Neo4j is a highly scalable native graph database that leverages data relationships as first-class entities to help companies build intelligent applications that meet today's evolving connected data challenges including fraud detection, real-time recommendations, master data management, network security and IT operations.
Global enterprises like Walmart, UBS, Cisco, HP, adidas Group and Lufthansa and hot startups like Medium, Qualia and Glowbl rely on Neo4j to harness the connections in their data.
Neo Technology is privately held and funded by Eight Roads Ventures, Sunstone Capital, Conor Venture Partners, Creandum, Dawn Capital and now Greenbridge Investment Partners. Headquartered in San Mateo, California, Neo Technology also has regional offices in Sweden, Germany and the UK.