ArangoDB Announces $27.8m Series B Investment to Accelerate Development of Next-Generation Graph ML
ArangoDB, the most scalable open source graph database, today announced a $27.8 million Series B financing round led by Iris Capital, with participation from existing investors Bow Capital and Target Partners, alongside New Forge. Curt Gunsenheimer, Managing Partner at Iris Capital, and New Forge’s Mirko Novakovic, co-founder and former CEO of Instana, join ArangoDB’s board of directors. This Series B investment brings ArangoDB’s total financing to $47 million since its foundation.
ArangoDB continues to gain traction for its ‘graph and beyond’ database: the ability to natively store data for graph, document, and search needs. The new funding will allow the company to accelerate its continued development of advanced analytics – in particular scalable graph analytics – and machine learning capabilities. New roles are open across engineering, marketing, product management, sales, and recruiting, most of which are fully-remote. ArangoDB also recently strengthened its management team, appointing Frank Swain as Chief Revenue Officer and promoting Jörg Schad to Chief Technology Officer.
“The key challenge of the 21st century is to get real value out of data. Enterprises worldwide are looking for easy ways to improve business insights, use new analytics methods, and advance their AI usages,” said Claudius Weinberger, CEO and co-founder of ArangoDB. “ArangoDB’s goal from day one is to make it extremely easy to handle data of any kind. Graph and beyond enable everyone to combine graphs, structured, unstructured, and more kinds of data in one solution, at enterprise-scale with advanced graph analytics. Our Series B funding will allow us to accelerate our mission to make it even easier to generate real value from data, as well as enter new markets.”
Since its founding, ArangoDB has natively supported graph in combination with additional data formats, including JSON documents, key-value, and full-text search. Over time, graph technologies have continued to become increasingly important and adopted by businesses of all sizes to extract value from data, despite most pure graph databases not being able to scale to support large volumes of data from various sources. ArangoDB is natively designed to scale to enterprises’ needs, relying on its unique approach of sharded data across large clusters. It has been adopted by industry leaders with novel use cases such as Altair, Barclays, Cisco, Juniper Networks, Refinitiv, RE/MAX, and VMware.
“Leveraging data in all its diversity and at – often massive – scale has become an imperative for all enterprises. ArangoDB delivers the power of graph together with high scalability and performance, true enterprise capabilities, multimodel support and the credibility and velocity of open source. The team has proved its incredible savviness and expertise and we are proud to join them to boost the company’s global expansion and product leadership,” said Curt Gunsenheimer, Managing Partner at Iris Capital.
“Over the past few decades, I’ve seen firsthand how complex applications are in the enterprise. ArangoDB’s ability to provide graph analytics at scale across various data formats is a game-changer as businesses grapple with how to extract value out of their data as easily as possible,” said Mirko Novakovic, angel investor at New Forge. “I’m thrilled to join ArangoDB’s board of directors to provide guidance and advice as they continue to build the next-generation of graph ML analytics.”
ArangoDB is the most scalable open source graph database, with more than 11,000 stargazers on GitHub. Building on the concept of ‘graph and beyond’, ArangoDB combines the analytical power of graphs with JSON documents, a key-value store, and a full-text search engine, enabling developers to access and combine all of these data models with a single, elegant, declarative query language. It serves as the scalable backbone for graph analytics and complex data architectures across many different industries.
Founded in 2015, ArangoDB Inc. is a privately-held company backed by Bow Capital, Iris Capital, New Forge, and Target Partners. It is headquartered in San Francisco and Cologne, Germany with offices and employees around the world. Learn more at www.arangodb.com.