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Company News : Neo Technology Gets $36M Funding
on 2016/11/15 9:51:16 (967 reads)
Company News

Neo Technology, creators of Neo4j 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.

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 organizations 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 digitization, 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.

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