Neo4j, a leader in the graph database space, today announced a Series F funding round as part of a $325 million investment led by Eurazeo and backed by GV (formerly Google Ventures). Today’s deal represents the largest investment in a private database company, And raised Neo4j’s valuation to more than $2 billion.
Existing investors One Peak (an investor since 2018), Creandum (an investor since 2014) and Greenbridge Partners (an investor since 2016), And new investors DTCP and Lightrock are also involved.
Neo4j announced a $325 million Series F round, the largest investment in the history of the database
Neo4j CEO and co-founder Emil Eifrem described the news as an inflection point in the wider database market and welcomed investment partners Eurazeo, GV, DTCP and LightRock.
“Databases constitute the largest single market in enterprise software, and at the center of its growth is a new generation of databases that address today’s data challenges in unprecedented ways, “Eifrem said. This is the magical age of databases, offering a few generations of companies the opportunity to become leaders in a wider range of areas. “Neo4j is one of those companies, and today’s record trading in the database space shows that our new and existing investors share this belief.”
According to Gartner, “Graph technology will be used for 80 percent of data and analytics innovation by 2025, up from 10 percent in 2021, facilitating rapid decision-making across the enterprise.” Source. Gartner, Top Trends in Data and Analytics for 2021, Rita Sallam et al., February 16, 2021.
Neo4j is trusted by more than 800 enterprise customers, including Adobe, AstraZeneca, eBay, Levi Strauss & Co., UBS, Volvo Cars, and Wal-Mart, and is the most widely deployed graphics database in the world.
With more than 75% of Fortune 100 companies using Neo4j’s graphical data platform, it provides mission-critical workloads for the world’s largest connected data applications.
Neo4j’s market leadership is accelerating along several axes. Today’s funding drives the company’s product innovation to deliver graphing technologies that go well beyond the most demanding customer requirements, such as data science, machine learning, cloud deployment, and real-time performance.
The company plans to use the investment to accelerate in three main areas.
- Cloud Portfolio – Offers a multi-cloud portfolio of services for individual developers all the way up to the largest global enterprises, offering unmatched flexibility, agility, and performance at any scale.
- Graphical Data Science — Powering a new era of intelligent applications through enhanced machine learning models to unlock relational based predictions that otherwise could not be achieved.
- Market Coverage — Expand Neo4j’s global reach and develop the company’s ecosystem of complementary technologies and expert service providers to deliver complete solutions and accelerate customer success.
Nathalie Kornhoff-Buls is Managing Director of Eurazeo’s Growth Team and was appointed to the Neo4j Board of Directors.
“It is clear that the world is becoming increasingly interconnected, from multi-tiered global supply chains to ubiquitous automated processes. “It’s also clear that companies that can’t digitize, analyze and visualize this connectivity will be left behind,” says Kornhof-Bruers. We chose to invest in Neo4j because it is shaping the future of the data and analytics that need to be implemented inside and outside the enterprise. The company’s technology leadership, global developer community, and world-class customer base — coupled with an expanding global ecosystem — make Neo4j uniquely positioned to continue to define and lead graph database categories. We are very proud to have been selected as a partner by Emil and his team and look forward to using Eurazeo’s global platform to help the company grow in the future.”
General partners Erik Nordlander and Tom Hulme welcomed Neo4j to the GV portfolio in a blog post titled Neo4j: In Search of Better Data Meaning.
“Tom Hulme and I are delighted to welcome this team to the portfolio of other database companies that are building the future of the enterprise. Erik Nordlander, GV General Partner, said: “Neo4j has been unswervently committed to its vision and I admire Emil for their courage and dedication over the years to build and publicise the graphics database.
As the creator of graphical categories, Neo4j has built a global community of hundreds of highly skilled application developers and data scientists around its technology ecosystem. These practitioners are building a wide range of applications that relational databases or other NoSQL databases cannot provide, requiring the digitization of connections in data on a large scale. Examples include determining airline ticket prices in real time, exposing sophisticated criminal networks responsible for cyberattacks, and money laundering.
Neo4j was identified as a leader in The Forrester Wave™. Graphic Data Platform, Q4 2020. Among the 12 chart data platform vendors, Neo4j achieved the highest score in the current product and strategy categories.
For more on what Neo4j’s funding announcement means for its customers, the developer community, and the database industry, check out Emil Eifrem’s blog post: Neo4j has secured the largest funding round in database history.
On the secondary
Neo4j is a leader in graph database technology. As the most widely deployed graphical database in the world, we help global brands — including Comcast, NASA, UBS, and Volvo Cars — uncover and predict how people, processes, and systems interrelate. Using this relational-first approach, applications built with Neo4j can address the challenges of interconnected data, such as analytics and artificial intelligence, fraud detection, real-time recommendation, and knowledge mapping. For more information, visit neo4j.com.
About Eurazeo
Eurazeo is a leading global investment group with a diversified portfolio of €23bn under management, including €16bn from third parties, investing in more than 450 companies. With its considerable private equity, real estate and private debt of professional knowledge, Eurazeo with companies of all sizes, through its commitment to the nearly 300 professional staff, and by providing deep industry professional knowledge, the portal into the global market, and responsible for the transformation of growth and stability of the foothold, support the development of them. Its solid institutional and family shareholder base, a sound financial structure with no structured debt and a flexible investment horizon enable Eurazeo to support the company over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid, and is listed on Euronext Paris.