May 29, 2012

MongoDB Developer 10gen Raises $42 Million Round Led By New Enterprise Associates


10gen, the company behind the increasingly popular NoSQL database MongoDB today announced that it has secured a new $42 million financing round let by New Enterprise Associates. This round also includes participation from existing investors Sequoia Capital, Flybridge Capital Partners and Union Square Ventures. 10gen says that it plans to use the financing to “invest in product development for MongoDB and the MongoDB Monitoring Service and to better support its rapidly growing community and user base worldwide.”

Including this round, 10gen has now raised more than $73 million.

10gen doesn’t discuss its revenues, but according to the company’s own data, its sales increased 50% quarter over quarter for the past five years. The company has also grown its team to 130 employees since early 2011. The company has offices in Palo Alto, New York City, Dublin and London. Among the company’s clients are startups like Foursquare, as well as major players in the telecommunications, financial services and media markets.

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