SAN FRANCISCO and COLOGNE, Germany, March 14, 2019 /PRNewswire-PRWeb/ -- ArangoDB, the leading open source native multi-model database, today announced it has raised $10 million in a Series A financing led by Bow Capital, and has moved its headquarters to the U.S. to better service its fastest-growing market. As part of the investment, Bow Capital Advisor Murat Sönmez, a former EVP of Global Field Operations at TIBCO and Managing Director at the World Economic Forum, joins ArangoDB's board of directors. Existing investor Target Partners also participated in the round, bringing ArangoDB's total financing to $17 million.
More than 500 organizations worldwide, including Airbus, Barclays, SAP Concur, and Thomson Reuters, leverage ArangoDB's multi-model database in production for flexible, streamlined application development. ArangoDB's Series A investment will allow it to accelerate product development and revenue growth by further expanding its engineering and sales teams to more heavily support its customers and community in the U.S. The company will continue to build-up community support, marketing, human resources as well as sales in Silicon Valley. The main software and product development will continue to be driven from Cologne, Germany.
With the rise and evolution of NoSQL databases, developers have more flexibility than ever before when it comes to what they can do with their data. However, maximizing the full value of this data often requires multiple data models, each of which typically requires a separate database -- known as polyglot persistence. By uniting graph, document, and key/value data models in a single core with the same query language, ArangoDB gives developers flexibility when building their applications. This not only reduces development complexity by eliminating data duplication and consistency challenges, but also accelerates time-to-market as development teams only have one database to learn, administer and maintain.
"Developers should use the right data model for the right job. But why should they have to use different databases for that important advantage? We created ArangoDB to give developers freedom when building their applications -- if they want to adapt or extend their data access patterns, they can do so by simply changing a query instead of their entire infrastructure," said Claudius Weinberger, CEO and co-founder of ArangoDB. "With our latest round of financing, we plan to continue to innovate, grow our global customer base, and double-down in the U.S. -- which continues to be our fastest-growing market."
The National Center for Biotechnology Information (NCBI) maintains a molecular biology database system to aid the research and medical community with new discoveries around genetic processes that control health and disease. "We previously had to utilize three different technologies to provide the performance and functionality for the more than 150 million external requests we receive each day," said Grisha Starchenko, Architect and Tech Lead at the NCBI. "By supporting native document and graph data models as well as providing a full-text search and ranking engine, ArangoDB allows us to dramatically consolidate our infrastructure and easily query more than 12 terabytes of molecular data."
The investment comes after a record year for ArangoDB. Key milestones achieved in 2018 include:
- More than 7 million downloads and 7,000 stargazers on GitHub
- A 4.7 out of 5 star rating from Gartner Peer Insights 'Voice of the Customer'
- Named a Winter Leader by G2 Crowd
- The GA release of ArangoDB 3.4, adding a full-text search and ranking engine as well as full GeoJSON support
- Releasing a Kubernetes operator that can deploy a stateful ArangoDB cluster on Kubernetes in just five minutes
"Application developers have been held hostage for years by traditional database vendors," said Vivek Ranadivé, Founder of Bow Capital and TIBCO Software. "With ArangoDB, developers no longer face the painful trade-off between choosing a single database model or maintaining multiple databases – they can have the best of both worlds. Claudius and team have created a world class product adopted by several Fortune 50 companies and supported by a vibrant open-source community. Murat did a phenomenal job leading TIBCO's Global Field Operations while we built the company to over $1 billion in revenue. We are delighted to have him guide ArangoDB to the next level by leveraging this enterprise software expertise."
"We continue to be impressed by how much the ArangoDB team has accomplished in such a short time," said Kurt Müller, Partner at Target Partners. "With more resources to accelerate growth and product development, we're even more excited to see what the future has in store."
Upcoming webinar: The benefits of a native multi-model database (plus a sneak peek!)
On Thursday, 28 March 2019, ArangoDB's Founder and CEO Claudius Weinberger will host a webinar that goes over the key features and benefits of a native multi-model database. He will also be joined by one of ArangoDB's team leads, who will share a sneak peek of an upcoming product release that will be available later this year. To register, visit http://www.arangodb.com/arangodb-events/why-native-multi-model-plus-sneak-peek.
Learn more
- For more insights on ArangoDB's future plans: Read the blog
- To learn how companies are using ArangoDB: Check out case studies
- To get started with ArangoDB: Download the latest version
About ArangoDB
One database, one query language, and three data models. With more than 7 million downloads and over 7,000 stargazers on GitHub, ArangoDB is the leading open source native multi-model database. It combines the power of graphs with JSON documents and a key-value store, enabling developers to access and combine all of these data models with a single elegant, declarative query language.
Simplifying complexity and increasing productivity is the mission of ArangoDB Inc., the company behind the project. Founded in 2014, ArangoDB Inc. is a privately-held company backed by Bow Capital and Target Partners. It is headquartered in San Francisco and Cologne with offices and employees around the world. Learn more at http://www.arangodb.com.
About Bow Capital
Bow Capital is a venture capital firm with a mission to help grow companies that use technology to advance society and make the world a better place. We leverage our expertise and connections with the University of California, other funds, incubators, entertainment and media, industry leaders, and accomplished entrepreneurs to help companies we partner with achieve escape velocity. Additional information is available at http://www.bowcapital.com.
About Target Partners
With €300 million under management, Target Partners is one of the leading early-stage venture capital firms in Germany. Target Partners invests in seed and early-stage technology companies and supports them with venture capital during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capital investors, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States. For more details: targetpartners.de and twitter.com/targetpartners.
SOURCE ArangoDB
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