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ArangoDB, the commercial open source company behind the NoSQL graph database system of the same name, has raised $ 27.8 million in a Series B round led by Iris Capital.
The company was launched as AvocadoDB in 2011 before changing its name a year later and is one of several notable players in the graph database, along with Elasticsearch, Apache Cassandra and MongoDB. Graph databases, for the uninitiated, run many modern applications, enabling fraud detection software to load data from various sources to identify risks and help social networks make friendship recommendations. It’s about connecting the dots between pieces of data that are not naturally related.
“The key challenge of the 21st century is to get real value out of data,” ArangoDB CEO and co-founder Claudius Weinberger noted in a press release. “Companies around the world are looking for easy ways to improve business insights, use new analytics methods, and promote their AI use.”
ArangoDB, the commercial company behind the open source database, was founded back in 2015 and now has dual headquarters in San Francisco and Cologne, Germany. The free community ArangoDB edition is available under a fully open source license, and the company offers a fully managed cloud incarnation that helps companies run their database without any of the infrastructure or hosting hassle, as well as an enterprise-grade edition .
The company claims several notable business users, including Cisco, Juniper Networks, Infosys and Barclays.
Graph database landscape
There has been a stream of activity across the graph database of late, with TigerGraph and Neoj4 raising $ 105 million and $ 325 million, respectively, this year. Memgraph announced this week that it has raised $ 9.34 million in a seed financing round led by Microsoft’s M12, and open source newcomer TerminusDB recently closed a $ 4.3 million seed round to reach commercialization.
ArangoDB, for its part, had previously raised $ 19.2 million, including a $ 10 million Series A series from two years ago. Its latest cash injection introduced a handful of new and old investors, including Bow Capital, Target Partners and New Forge. With an additional $ 27.8 million in the bank, the company said it can accelerate the development of its scalable graph analysis and machine learning features, while increasing the number of employees across engineering, marketing, product management, sales and more.
“ArangoDB’s goal from day one is to make it extremely easy to handle data of any kind,” Weinberger said. “Our Series B financing allows us to accelerate our mission to make it even easier to generate real value from data as well as enter new markets.”
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