10gen Completes $3.4M Series B Round of Financing
New York-based 10gen, an open-source software company and developer of the non-relational database MongoDB, has completed a $3.4m Series B round of financing led by Flybridge Capital Partners with participation from Series A investor Union Square Ventures.
In conjunction with the financing, Chip Hazard, a general partner with Flybridge Capital Partners, will join the company’s Board of Directors, which includes Union Square Ventures General Partner, Albert Wenger along with 10gen founders Dwight Merriman, Eliot Horowitz and Kevin Ryan.
Commenting on the deal, Dwight Merriman, Chairman and CEO, 10gen, said: “We are pleased to welcome Flybridge as our newest investor and look forward to their support in helping us build MongoDB into a leader in the NoSQL database market”.
Flybridge Capital Partners is an early-stage venture capital firm whose mission is to assist entrepreneurs in growing innovative, global companies.
“We believe MongoDB has the ability to become the predominant platform for web application development”, Chip Hazard said.
“The company is led by a world-class team with the technical ability, passion and drive we look for in entrepreneurs. This, in combination with their innovative technology, a large market opportunity, and early momentum, put it in an excellent position to execute on it’s vision of providing Web application developers with database solutions that address their unique requirements”, he added.