Neo Technology Raises $11 Million in Series B Funding to Lead Adoption of Graph Databases

SAN MATEO, CA--(Marketwire - Nov 2, 2012) - Neo Technology, creators of Neo4j, the world's leading graph database, announced today it has raised $11 million in Series B funding.

New Funding Sets Leadership Pace for Graph Databases
The round, led by Sunstone Capital, brings the total amount raised by Neo Technology to more than $24 million. The investment will be used to fuel product development, meet the needs of Neo's rapidly expanding customer base, and to further deliver on the company's vision for mass adoption of graph databases. All of Neo Technology's current institutional investors, including Fidelity Growth Partners Europe and Conor Venture Partners, are participating above pro rata in this round.

Revenue Leadership
"Every quarter this year our bookings have been more than triple as compared to the same period last year. Total bookings in 2012 are up 440 percent over 2011. Continued investor confidence, as well as ongoing validation from partners, customers and industry analysts, underscores the work we've done to date. Our unique approach to solving connected data challenges is proven across thousands of installations. This additional capital will help us extend the experience to new markets and further fuel the mass adoption of our graph database technology," said Emil Eifrém, CEO of Neo Technology.

Enterprise Leadership
"The market for graph databases is taking off, and Neo Technology is the world leader," said Nikolaj Nyholm of Sunstone Capital. "At this point last year, Neo had one Enterprise customer: Cisco. Today Neo has 20+ Global 2000 customers, including Cisco, Vivendi, Deutsche Telekom, Lockheed Martin, BAE Systems, Telenor, LexisNexis, Intercontinental Exchange, Adobe, and Pitney Bowes. Several of these companies, including Cisco, and Telenor, will present their solutions at GraphConnect 2012 on November 6."

Startup and Emerging Company Leadership
Some of the hottest startups and emerging companies such as Squidoo, FiftyThree, GlassDoor, Teachscape, Gamesys, Viadeo, MoviePilot, InfoJobs, and Woozworld are using Neo4j to bring disruptive innovation to mobile and social applications.

"As the world becomes more interconnected, being able to leverage those connections is essential to providing real value to our users and customers. Squidoo is launching a brand-new sharing platform and we needed a technology partner that could do the heavy lifting that would delight and amaze our users. Neo4j is extraordinary in enabling us to offer a product that makes connections possible," said Seth Godin, CEO of Squidoo, a site where people share their passions, ranked #35 in US traffic by Quantcast.

Industry Leadership
The Neo4j Partner Graph is quickly expanding by including the thought leaders in NOSQL and graph database applications. New partners include HP, OpenCredo, Open Software Integrators, InfoClear, McKnight Consulting Group, Xnlogic, CodeCentric, Instil Software, JayWay, Lateral Thoughts, Morgner, SPP42, Xebia, Zenika, Centrum Systems, Readify, SpringSource, Heroku, Thoughtworks, and Capgemini. OpenCredo has delivered a mission-critical application for one of the world's largest Telcos. This application, along with several others, will be presented at the upcoming GraphConnect 2012 conference. Neo Technology is continuing to expand its partner base in both North America and Europe.

"At OpenCredo we pride ourselves on selecting technologies that deliver real value to our clients. Since becoming involved with Neo4j, we have worked on a large number of projects that deliver significant value through the use of this leading graph database technology. In joining the Neo4j Partner Graph we look forward to continuing to find new and innovative uses of this exciting technology alongside Neo Technology," said Jonas Partner, CEO, OpenCredo, and co-author of "Neo4j in Action," a new book from Manning.

Market Leadership
Earlier this year Matthew Aslett of the 451 Group published a report comparing the growth and market share of NOSQL databases, as measured by LinkedIn search results. His conclusion: Neo4j is not only the leading graph database but also is the fastest growing of all NOSQL databases. According to Aslett, "Neo4j's ascendency is due to it having the fastest growth rate of all the NOSQL projects in Q2, according to our search results."

Community Leadership
Thirty-one new Meetup Groups for Neo4j have sprung up over the last year in 27 cities across 15 countries.

Product Leadership
InfoWorld selected Neo4j for the Best Open Source Database award in September 2012. According to InfoWorld, "The database for interconnected data, Neo4j, provides a reliable platform for solving highly interconnected database problems."

GraphConnect Brings Graph Thought Leaders Together in San Francisco
Graph database thought leaders and Neo4j users, including Intuit, ThoughtWorks, FiftyThree, Squidoo, Adobe, Telenor, and Cisco, will present at Neo Technology's GraphConnect 2012 conference on November 5-6 in San Francisco. GraphConnect represents the 'center of the graph universe' by providing a forum for Graph thought leaders and organizations to come together to explore new ideas, share innovations in graph technology, and make connections with researchers and developers from around the world. Register for GraphConnect 2012 here.

Useful Links

• Neo Technology
• GraphConnect 2012
• Neo4j Community site
• Company press page
• Twitter
• Graph Database News

About Neo Technology
Graphs are everywhere. From websites adding social capabilities to Telco's providing personalized customer services to innovative bioinformatics research, organizations are adopting graph databases as the best way to model and query connected data. Neo Technology researchers have pioneered graph databases since 2000 and have been instrumental in bringing the power of the social graph to customers such as Adobe, Cisco, and Deutsche Telekom. Now in production for nine years, Neo4j is the world's leading graph database with the largest ecosystem of partners and tens of thousands of successful deployments worldwide.

Neo Technology is a privately held company funded by Fidelity Growth Partners Europe, Sunstone Capital and Conor Venture Partners, and is headquartered in San Mateo, CA, with offices in Germany, UK, France, Belgium, Sweden, and Malaysia. For more information, please visit www.neotechnology.com