Series C Funding

2014 has been an amazing year for graph database adoption and for us here at Neo Technology. We reached the milestone of more than 500,000 downloads since the launch of Neo4j 2.0 last January. We saw thousands of production deployments and expanded our global community of enthusiastic and passionate users. How enthusiastic? Well, 2014 saw a mind blowing FIVE HUNDRED events about Neo4j (think about that! More than one event per day sustained through the year!), a momentum that is continuing in the new year.

We drew a record turnout for Neo’s GraphConnect San Francisco 2014 (the keynote is a good high level summary of the state of the graph union, by the way). Analysts raved about us: Gartner named Neo a Cool Vendor in DBMS, 2014, and we were the only graph database vendor to meet the firm’s strict requirements for inclusion in the 2014 Magic Quadrant for Operational Database Management Systems (DBMS). On the commercial side, we grew our customer base to over 150 paying subscription customers and more than doubled our revenue.

In addition to all this, I’m proud to announce that we’ve closed a $20 million Series C funding round, led by our friends at Creandum with Dawn Capital, as well as current investors, participating. This funding will enable us to invest more in the product, to build out a global salesforce and to get the word out about all the amazing things you can do with graph databases. In a nutshell: it will enable us to move faster across the board.

As I reflect on where we are today, I can’t help but think back to a few years ago when we were just establishing Neo Technology in Sweden — with great technology but literally no customers and no market presence.

Fast forward to now and we’re the clear leader in graph databases – the fastest-growing category in all of data management – with customers including some of the best-known companies on the planet (Walmart, eBay, Earthlink, UBS, CenturyLink, National Geographic, Pitney Bowes, HP, Cisco and many more) and exciting startups such as Medium (how they use Neo4j), CrunchBase (how they use Neo4j for the business graph), Polyvore, Zephyr Health and Elementum (see them all in the startup panel from GraphConnect).

The graph market is poised to explode, and we’re ideally positioned to continue thriving in it. Gartner recently said that “Graph analysis is possibly the single most effective competitive differentiator for organizations pursuing data-driven operations and decisions after the design of data capture.” And Forrester Research reported that graph databases will be used by over 25 percent of all enterprises by 2017. Imagine the transformation that big enterprises will go through over the next couple of year as they build completely new products and services based on graphs, and reimagine existing applications from a graph perspective!

That is an extraordinary opportunity. This new round of funding will enable Neo Technology and the Neo4j community to fully participate in and contribute to that historical transformation.