10gen Raises $42 Million From NEA, Sequoia, Flybridge, and USV
10gen is the company that is known for creating the MongoDB open source data software. 10gen has raised a $42 million round of funding to improve upon their technology. 10gen receives most of their revenue by offering support and consulting MongoDB. 10gen customers include Foursquare, Disney, eBay, and Viacom. 10gen has seen a 50% quarter-over-quarter sales growth during the past 5 quarters. This round of funding was led by New Enterprise Associates. Other investors that participated include Sequoia Capital, Flybridge Capital, and Union Square Ventures. 10gen has raised a total of $73 million to date.
“I’ve had my eye on 10gen and their amazing trajectory for several years,” stated NEA general partner Harry Weller. “They’ve solidified themselves as the dominate player in the NoSQL market and a real disrupter in the database space in general. The NoSQL market is exploding, and we see MongoDB becoming the de-facto database for both Web 2.0 companies and large enterprises.”
10gen plans to use the funding for new hires. The company currently has about 130 employees. They plan to have 200 by the end of the year and will be opening an office in Sydney.