Eurazeo Leads Series F Round, Raising the Company’s Valuation to Over $2 Billion
Neo4j, the leader in graph technology, announced a Series F funding round as part of a $325 million investment led by Eurazeo with participation from GV (formerly Google Ventures). Today’s transaction represents the largest investment in a private database company and raises Neo4j’s valuation to over $2 billion.
Existing investors One Peak (an investor since 2018), Creandum (an investor since 2014), and Greenbridge Partners (an investor since 2016), as well as new investors DTCP and Lightrock, also participated.
Emil Eifrem, Neo4j’s CEO and Co-Founder, characterized the news as an inflection point in the broader database market and welcomed investment partners Eurazeo, GV, DTCP, and Lightrock.
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“Databases constitute the largest single market in enterprise software, with growth centered in new generations of databases that address today’s data challenges in unprecedented ways,” said Eifrem. “This is a magical time in databases, presenting an opportunity for a handful of generational companies to emerge as leaders in the broader landscape. Neo4j is one of these companies, and today’s record-breaking transaction in the database space demonstrates that our new and existing investors share this belief.”
According to Gartner, “By 2025, graph technologies will be used in 80% of data and analytics innovations, up from 10% in 2021, facilitating rapid decision making across the enterprise.” Source: Gartner, Top Trends in Data and Analytics for 2021, Rita Sallam et al., 16 Feb 2021.
Trusted by more than 800 enterprise customers, including Adobe, AstraZeneca, eBay, Levi Strauss & Co., UBS, Volvo Cars, and Walmart, Neo4j is the world’s most widely deployed graph database.
Used by more than 75% of the Fortune 100, Neo4j’s graph data platform enables mission-critical workloads for the world’s largest connected data applications.
Neo4j’s market leadership is accelerating along several axes. Today’s funding fuels the company’s product innovation to provide graph technology that far exceeds the most demanding customer requirements across data science, machine learning, cloud deployment, and real-time performance.
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The company plans to use the investment to accelerate along three primary dimensions:
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Cloud portfolio – Delivering a portfolio of multi-cloud services that can serve individual developers all the way through to the largest global enterprises, offering unmatched flexibility, agility, and performance at any scale.
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Graph data science – Powering a new era of intelligent applications with enhanced machine learning models to unlock otherwise unattainable predictions based on relationships.
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Market reach – Expanding Neo4j’s global footprint, and growing the company’s ecosystem of complementary technologies and expert service providers, in order to deliver complete solutions and accelerate customer success.
Nathalie Kornhoff-Brüls is a Managing Director in the growth team of Eurazeo and has been appointed to the Neo4j Board of Directors.
“It is clear that the world is becoming increasingly interconnected, from multi-level global supply chains to ubiquitous automation of processes. It is also clear that businesses who are unable to digitize, analyze, and visualize this interconnectedness will be left behind,” said Kornhoff-Brüls. “We chose to invest in Neo4j because it is shaping the future of how data and analytics will need to be implemented in the enterprise and beyond. The company’s technology leadership, global developer community, and world-class customer base – combined with an ever-expanding global ecosystem – uniquely position Neo4j to continue to define and lead the graph database category. We couldn’t be prouder to have been chosen as a partner by Emil and his team, and look forward to leveraging Eurazeo’s global platform for the company’s journey ahead.”
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General Partners Erik Nordlander and Tom Hulme welcomed Neo4j to the GV portfolio, in a blog post titled Neo4j: A Quest to Make Better Sense of Data.
“Tom Hulme and I are excited to welcome the team to the portfolio, joining other database companies that are building the future of the enterprise. Neo4j has been steadfast in its vision, and I admire Emil’s grit and tireless dedication over the years to build and evangelize graph databases,” said Erik Nordlander, General Partner at GV.
As the graph category creator, Neo4j has built a global community of hundreds and thousands of highly skilled application developers and data scientists around its technology ecosystem. These practitioners are building wide-ranging applications, unable to be served by relational or other NoSQL databases, which require digitizing connections in data at scale. Examples include determining the price of an airline ticket in real time, exposing complex criminal networks responsible for cyber attacks, and money laundering activity.
Neo4j is recognized as a Leader in The Forrester Wave™: Graph Data Platforms, Q4 2020. Of the 12 graph data platform providers cited, Neo4j achieved the highest scores in the current offering and strategy categories.
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