Big data firm MongoDB raises $150M in financing

Technology company MongoDB, which provides database services for businesses, secured $150 million in financing from investors such as Salesforce.com, Intel Capital and Sequoia Capital.

MongoDB helps business clients store and process information in open-source databases. The 320-person company has raised $231 million in total since its founding in 2007, a possible signal of investor confidence in the big data space. The software has more than 5 million downloads, with customers including MetLife, IBM, and Goldman Sachs.

The new investments will help MongoDB add new features to its current offering such as management capabilities, more advanced security, and integration with third party software, chief executive Max Schireson explained.

“We’re thinking primarily about growth over the next couple years. It’s actually a long-term undertaking,” he said, noting his plans to grow the company by about 200 employees by next year.

Headquartered in New York, MongoDB has six other offices globally including one in Reston, which focuses on government clients.

Mohana Ravindranath covers IT and small business for the Washington Post and its weekly Capital Business publication.
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