Neo Technology Receives $20 Million in New Funding

Date 2015/1/20 12:31:23 | Topic: Company News

Neo Technology, creator of Neo4j, the world's leading graph database, today announced the closing of $20 million in Series C funding, led by Creandum with Dawn Capital. Current investors Fidelity Growth Partners Europe, Sunstone Capital and Conor Venture Partners all participated in the round. Neo Technology will use the investment to innovate further with its award-winning Neo4j product, drive open source community growth, and expand its U.S. and international footprint in response to increasing demand for graph databases.
"As an investor, we share a common vision of the role that Neo Technology plays in helping businesses leverage data relationships in real time," said Haakon Overli, General Partner at Dawn Capital. "The current set of RDBMS and NoSQL technologies fall short when it comes to modeling, storing and retrieving both data and relationships in real time. Any application where the value comes from insights based on data relationships will need a graph database, and Neo4j is the only enterprise-grade graph database on the market."

Demand for Neo4j Explodes as Use Cases for Graph Databases Broaden and Accelerate

Neo's strong momentum-with over 500,000 downloads since the launch of Neo4j 2.0 last year, thousands of production deployments, a thriving community of developers worldwide and record turnout for Neo's GraphConnect San Francisco 2014 conference-reflects the huge demand for Neo4j. Large enterprises like Walmart, eBay, Earthlink, CenturyLink, Pitney Bowes and Cisco as well as startups like Medium, CrunchBase, Polyvore, Zephyr Health and Elementum use Neo4j to unlock business value from data relationships in mission-critical applications that include real-time pricing, online product and service recommendations, fraud detection, graph-based search and Internet of Things (IoT). Never before has it been possible to derive business value in real time from data relationships. Neo4j helps businesses create new products and services and reimagine existing ones by bringing data relationships to the forefront. 

This article comes from Software Development Tools

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