MongoDB, an open source NoSQL database company, raised $150 million in additional financing from T. Rowe Price, Altimeter Capital and Salesforce.com.
Existing investors such as Intel Capital and Red Hat also participated to bring MongoDB's total funding to $231 million since 2007.
MongoDB, a play on big data, said it will use the additional funding---the largest round for any database vendor---to invest in the MongoDB project and its management suite. MongoDB's Management Service is a suite of tools to run MongoDB at scale. The company added that it will also use the funding to support its user base, which features 20,000 user group members.
According to Max Schireson, CEO at MongoDB, the funding will give the company "staying power" as big data investments and deployments continue in the years ahead.
In a blog post, Schireson noted that the funding will be used to make MongoDB's products more feature-rich. He also added that MongoDB is competing with mature companies such as Oracle, IBM and Microsoft, three companies with massive cash piles.
We’ve seen the potential, but we are in a market dominated by technologies with over 30 years of engineering in them. Their designs may not be as well suited to modern applications, but they are very mature, very feature rich, and have huge partner ecosystems and big companies that understand the needs of their enterprise customers behind them. They have way more tooling – and decades of refinement of operational tools.
This is why we are raising $150 million. We know that it will take a large and sustained effort to build the maturity that many users expect in this market.
In an interview, Schireson said he thought MongoDB products were in a "great position from a developer experience perspective," but needed to nail down the operations experience via monitoring, backup, and management tools.
He added that MongoDB would take a couple years to get about 80 percent of the features that matter from mature databases.
Nevertheless, Schireson said that enterprise interest has spiked in the last nine months. In the last six months, MongoDB projects have gone production in the enterprise and that has sparked a second wave of interest.
Among the new MongoDB investors, the Saleforce participation is worth noting. Before Salesforce inked its long-term deal with Oracle on databases, there was speculation that the company would aim to use NoSQL at some point. Analysts have argued that Salesforce will ultimately have to use a NoSQL infrastructure and Hadoop for analytics.
Buddy Media, which was acquired by Salesforce, is a MongoDB customer.