NoSQL database company Neo Technology has raised $10.6 million in Series A funding led by Fidelity Growth Partners Europe with Sunstone Capital, Conor Venture Partners and Rod Johnson, the founder and CEO of SpringSource also participating in the round.
As the world of data explodes in volume and complexity, many applications and databases need to manage this influx of queries with high performance. Neo Technology provides enterprises with a NoSQL database that can scale to ever-changing data and its associated requirements.
Neo Technology delivers Neo4j, the NOSQL Enterprise Open source database to the enterprise. The company says that Neo4j flexible and scalable graph database engine is the industry’s only NOSQL database capable of solving the complex, connected data challenges that enterprise application developers face today. Unique to NOSQL databases, Neo4j caters to enterprise developers with mature support for transactions, Java support, and ease of development.
With Neo4j, the programmer works with an object-oriented, flexible network structure rather than with strict and static tables promises to offer performance improvements.
The investment will be used to fuel product development and for hiring purposes.