Graph platform Neo4j today announced that it raised $325 million at an over $2 billion valuation in a Series F round led by Eurazeo, with additional investment from GV. The capital, which brings the company’s total raised to date to over $500 million, will be put toward expanding Neo4j’s platform, workforce, and customer base, the company says.
Markets and Markets anticipates the graph database market will reach $2.4 billion by 2023 from $821.8 million in 2018. And analysts at Gartner expect that enterprise graph processing and graph databases will grow 100% annually through 2022, facilitating decision-making in 30% of organizations by 2023. Graph databases and graph-oriented databases leverage graph structures for semantic queries, with nodes, edges, and properties that store and represent data. They’re a type of non-relational technology that depicts the relationships connecting various entities — like two people in a social network, for instance — and that can analyze interconnected data.