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Fidelity Growth Partners Europe leads $10.6M investment in Neo Technology
Date:
Wed, 21/09/2011 (All day)
Extends firm's European investment footprint to include the Nordics
London, September 21st 2010 – Fidelity Growth Partners Europe (FGPE), a pan-European venture and growth equity investor, has led a $10.6M investment round in Neo Technology, the NOSQL database company for the enterprise. Neo’s robust, flexible and scalable graph database engine, Neo4j, is the only database currently available solving complex data challenges for enterprise applications. FGPE joins other returning investors Sunstone Capital and Conor Venture Partners.
The Series A funding will be used to fuel product development in this rapidly growing industry, meet the needs of Neo’s expanding customer base, and further deliver on its vision for driving NOSQL into the enterprise. Chris Barchak of Fidelity Growth Partners Europe has joined the company’s board along with industry veteran Rod Johnson – the founder and former CEO of SpringSource – who participated in the funding and will become board Chairman.
Today’s news is the latest in a string of announcements that indicate the NOSQL space is maturing. Over the past month, Neo Technology, Couchbase and 10Gen/MongoDB have collectively raised over $54 million.
Neo Technology delivers Neo4j, the NOSQL Enterprise Open source database. Neo4j, based on a robust, flexible and scalable graph database engine, is the industry’s only NOSQL database capable of solving the complex, connected data challenges that enterprise application developers face today. Unique to NOSQL databases, Neo4j caters to enterprise developers with mature support for transactions, high availability, first-class Java support, and ease of development.
As the world of data explodes in volume and complexity, many applications and databases have difficulty handling sophisticated queries with high performance. Neo Technology addresses such challenges by providing a NOSQL database that is transactional, durable, and can scale to handle complex, ever-changing data and its associated requirements. As enterprise adoption of NOSQL accelerates and more companies look to bring on known and trusted ‘enterprise ready’ tools, Neo Technology is emerging as the leading provider of NOSQL for the enterprise.
Chris Barchak, Principal, Fidelity Growth Partners Europe said: “FGPE is focused on helping great entrepreneurs build successful companies and we are extremely excited in this investment, which marks our first foray into the Nordic region.”
He continued: “ With big data challenging the enterprise, the notion of a ‘one-size fits all’ database is over. Neo represents a new generation of database vendors, as more and more companies look for trusted NOSQL in a post-relational world.”
About Neo Technology
Neo Technology is the NOSQL database company for the enterprise. The company’s robust, flexible and scalable graph database engine, Neo4j, is the only database currently available solving complex data challenges for enterprise applications. Based on eight years of development, Neo4j is a fully transactional database, which enables customers including Adobe and Cisco and to tackle complex data problems. Neo Technology is a privately held company funded by Fidelity Growth Partners Europe, Sunstone Capital and Conor Venture Partners, and is headquartered in Menlo Park, CA. For more information, visit www.neotechnology.com
About Fidelity Growth Partners Europe
Fidelity Growth Partners Europe is a venture and growth capital investor which backs entrepreneurs with aspiration for greatness in the IT and clean technology sectors. By combining a collaborative approach with a global network and a 40-year history of venture investing, FGPE helps companies accelerate their growth and become true leaders in their field. A strong track record in Europe includes investments in market leaders such as Seatwave, Innogames and Curam Software. In January 2010, FGPE raised a GBP100 million fund dedicated to backing European technology companies.