Neo4j, a Swedish-American open-source-powered graph database startup, has raised $80 million in a Series E round that brings its total capital raised to date to $160 million.

It’s been almost exactly two years since Neo4j raised its Series D, a $36 million round raised from Eight Roads, Creandum, Greenbridge, and Sunstone Capital.

My impression after talking with Neo4j’s CMO was that the firm has taken a rational approach to growth so far, keeping it as a focus but avoiding some pitfalls that some venture-backed companies run into (for example: raising huge rounds, and pushing them through lackluster sales operations leading to expensive ARR growth at the cost of extreme dilution).

What Neo4j has in its favor is high contract value (starting sales are “low six-figures,” per Walter), and traction in sectors that are driving noise in technology. The firm’s tech can work in the AI and ML space, along with analytics and other data-intensive work.

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