Neo4j announced $325 million in Series F funding, which represents the largest investment in a private database company in history. The capital injection was led by Eurazeo with participation from Google Ventures and existing participants. Neo4j’s latest raise brings the company’s total earned to $515 million. Neo4j now touts an evaluation of more than $2 billion. Solutions Review named Neo4j to its list of the Best Graph Databases to Consider for 2021 back in March.
Neo4j offers a graph database that helps organizations make sense of their data by revealing how people, processes and systems are related. Neo4j natively stores interconnected data so it’s easier to decipher data. The property graph model also makes it easier for organizations to evolve machine learning and AI models. The platform supports high-performance graph queries on large datasets as well.
Neo4j plans to use the funding to hasten plans along three main areas like the vendor’s cloud portfolio to deliver multi-cloud services, graph data science to bring enhanced machine learning models, and market reach for expanding its ecosystem of complementary technologies and service providers. Neo4j is currently used by more than 75 percent of the Fortune 100.
Announced alongside the funding news at NODES 2021, the company unveiled version 4.3 of its graph database offering which touts incremental updates that highlight previous innovations. Featuring improved performance via new Smart IO Scheduling and Relationship and Relationship Property Indexes, the new version also includes relationship chain locking for faster write transaction throughput, graph data science and analytic read scaling, and parallelized backup and restore for faster backup and recovery.
In a media statement on the news, Neo4j co-founder and CEO Emil Eifrem said: “This is a magical time in databases, presenting an opportunity for a handful of generational companies to emerge as leaders in the broader landscape. Neo4j is one of these companies, and today’s record-breaking transaction in the database space demonstrates that our new and existing investors share this belief.”
Read Neo4j Raises the Largest Funding Round in Database History or Introducing Neo4j 4.3: The Fastest Path to Graph Productivity in the company’s blog to learn more.