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October 7, 2013

MongoDB raises $150m in funding for NoSQL database

It would be used to fund development of the NoSQL database.

By CBR Staff Writer

Cross-platform document oriented database system, MongoDB, has raised $150m in its latest funding round from T. Rowe Price Associates, together with new investors including Altimeter Capital and Salesforce.com.

Participants of the funding round also include existing investors including Intel Capital, NEA, Red Hat and Sequoia Capital.

The proceeds will be used to further invest in the core MongoDB project as well as in MongoDB Management Service, which is a suite of tools and services to operate MongoDB at scale, whilst also to boost its global customer base.

MongoDB CEO Max Schireson said that the adoption of MongoDB has grown explosively over the last few years.

"This funding will allow us to continue to invest in the technology and the global operation our customers require," Schireson said.

"Building the product and company to bring greater agility and scalability to how organisations manage data will require a large and sustained investment.

"With this additional funding we will have the staying power to make these investments."

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MongoDB has raised about $231m in total funding since being commissioned in 2007, and now it is claimed to be the best-funded big data technology.

With a booming open source global community, MongoDB has over five million downloads, 100,000 online education registrations, 20,000 user group members and 20,000 MongoDB Days attendees.

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