NoSQL Vendor 10gen Raises $42 Million Financing Round

10gen, the company behind the NoSQL database MongoDB, has secured $42 million in financing, led by New Enterprise Associates, with participation from existing investors Sequoia Capital, Flybridge Capital Partners and Union Square Ventures. The company plans to use this financing to invest in product development for MongoDB and the MongoDB Monitoring Service (MMS) and to better support its community and user base worldwide.

10gen, which initiated the MongoDB project and continues to be the primary contributor and continual sponsor of MongoDB, offers production support, training, consulting and online management services for the database. 10Gen says it has experienced 50% quarter-over-quarter sales growth for the past five quarters, grown its team over 400% since January of 2011, and continues to invest strongly in technology with the majority of its 130 employees in the technology team.

“We want to change the database market, to make MongoDB the best way for companies to build new applications,” said Dwight Merriman, CEO of 10gen. “Our goal is to give tech teams not only a database that scales to any big data level required but also helps developers be productive and more nimble. That has been the vision of the MongoDB open source community and we want to continue to help make that happen.”

“I’ve had my eye on 10gen and their amazing trajectory for several years. They’ve solidified themselves as the dominate player in the NoSQL market and a real disrupter in the database space in general,” says Harry Weller, general partner at New Enterprise Associates, in a statement released by the company. “The NoSQL market is exploding and we see MongoDB becoming the de-facto database for both Web 2.0 companies and large enterprises. We see nothing but continued growth for the company and the MongoDB community.”

10gen says numerous positions are open in 10gen’s offices, including California, Dublin, London, New York and Sydney. The 10gen career page has more information on open positions.

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