By Aayushi Mittal | November 1, 2018
Graph database maker Neo4j Inc. said today it has raised an $80 million late-stage funding round, doubling the company’s total venture capital investment to $160 million and making it the best-funded startup in its market.
The company said it will use the funds to hike investment in its flagship platform to “support popular use cases, including graph-enabled artificial intelligence and machine learning systems.” The Series E round was led by One Peak Partners and Morgan Stanley Expansion Capital and included existing investors Creandum AB, Eight Roads Ventures and Greenbridge Partners LLC. The company wouldn’t estimate its valuation.
Neo4j is widely credited with spurring the surging interest in graph database technology, which takes a radically different approach to storing and navigating information then traditional data management engines.
Most notably, Neo4j’s technology was extensively used in the Paradise Papers, a global investigative journalism project that had reporters sifting through more than 13 million documents to uncover offshore activities of prominent people and organizations.
Keywords: Series E Funding