MongoDB, the company known for its next-generation open source database technology, has closed on nearly $80 million in new funding, the company has confirmed to TechCrunch.
According to a regulatory filing issued this week, which was signed by MongoDB CEO Dev Ittycheria, MongoDB has closed on $79.99 million so far in an equity offering worth a total of $100 million. That means there is just over $20 million in company stock remaining to be sold in the round. According to the document, the first sale in the offering was made on December 10, 2014.
When contacted yesterday, a company spokesperson confirmed the $80 million raise, but did not provide additional information on the remaining amount indicated in the offering.
This isn’t the first big money funding round for the New York City-based MongoDB. In October 2013, the company raised $150 million in Series E funding in what it said at the time was the largest round ever for a database company. That raise reportedly valued MongoDB at $1.2 billion. Being that MongoDB’s competition includes deep-pocketed entrenched database giants such as Oracle, the money should certainly come in handy.
The new funding comes as the company is apparently sharpening its focus on its financials. Yesterday, MongoDB announced that it has hired longtime software industry exec Carlos Delatorre to serve as its Chief Revenue Officer.
This post has been updated after receiving confirmation from the company.