On 1st October, Neo4j was rewarded with an $80 million Series E to bring their products to a wider market. This could possibly be the companies last private fundraise. In 2016, the company got a $36 million Series D investment. Neo4j has been successful with around 200 enterprise customers to their credit including Walmart, UBS, IBM and NASA with customers from 20 of the top 25 banks and 7 of the top 10 retailers.
The round for series E was led by One Peak Partners and Morgan Stanley Expansion Capital with participation from existing investors Creandum, Eight Roads and Greenbridge Partners.
As reported in Techcrunch, this is what he has to say: “If your mental framework is around building a great company, you’re going to have all kinds of options along the way. So that’s what I’m completely focused on,” Eifrem explained.
This year, the company was focussed on expanding into artificial intelligence. Since Graph databases help companies understand connections in large datasets and AI involves large amounts of data to drive the learning models, both of them used hand-in-hand will benefit the organization.
Eifrem has expressed intentions to use the money to expand the company internationally. He also plans to provide localized service in terms of language and culture wherever their customers happen to be.
This news seems to have gone down well with Neo4j users:
Source: y combinator
Head over to Techcrunch to know more about this news.
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