10gen, a New York-based developer of an open-source, non-relational database called MongoDB, has raised $3.4 million in Series B funding. Flybridge Capital Partners led the round, and was joined by return backer Union Square Ventures.
10gen, an open-source software company and developer of the non-relational database MongoDB, today announced it has completed a $3.4 million Series B round of financing led by Flybridge Capital Partners with participation from Series A investor Union Square Ventures. As part of the funding, Chip Hazard, a general partner with Flybridge Capital Partners, will join the company’s Board of Directors, which includes Union Square Ventures General Partner, Albert Wenger along with 10gen founders Dwight Merriman, Eliot Horowitz and Kevin Ryan.
Founded and led by veteran entrepreneurs and technical leaders in the Internet industry, 10gen is developing and commercializing MongoDB, a high-performance, open-source, schema-free, non-relational database. MongoDB brings together the performance & scalability of key/value stores with the deep query capabilities of traditional relational databases. It can be downloaded and run on one’s own servers or consumed as a service from various cloud providers. Tens of thousands of developers have downloaded MongoDB and several companies now use it in production including SourceForge, Business Insider and Disqus.
“As the database industry has matured and software applications have become more complex, the traditional one-size fits all relational databases are no longer appropriate for all applications, especially for Web applications, said Dwight Merriman, Chairman and CEO, 10gen. “We are pleased to welcome Flybridge as our newest investor and look forward to their support in helping us build MongoDB into a leader in the NoSQL database market.”
“We believe MongoDB has the ability to become the predominant platform for web application development, ” said Chip Hazard. “The company is led by a world-class team with the technical ability, passion and drive we look for in entrepreneurs. This, in combination with their innovative technology, a large market opportunity, and early momentum, put it in an excellent position to execute on it’s vision of providing Web application developers with database solutions that address their unique requirements.”
Founded in 2007 and based in New York, NY 10gen sponsors the open source MongoDB project, and provides commercial support for MongoDB. MongoDB (from “humongous”) is a high-performance, open-source, schema-free non-relational database. For more information, visit www.10gen.com
About Flybridge Capital Partners
Flybridge Capital Partners is an early-stage venture capital firm whose mission is to assist entrepreneurs in growing innovative, global companies. With $560 million under management, the firm is focused on investing in consumer, healthcare and information technology markets and is led by a team with domain expertise and more than half a century of combined experience in venture capital. For more information, visit www.flybridge.com.
About Union Square Ventures
Union Square Ventures is an early stage venture capital firm located in New York City. USV invests in web-based services that disrupt markets by capitalizing on ubiquitous connectivity and innovative business models. USV’s current portfolio includes Twitter, Indeed and Etsy and past investments include FeedBurner (acquired by Google), TACODA (acquired by AOL) and del.icio.us (acquired by Yahoo!).