MongoDB has raised a $150 million funding round led by Fidelity Investments, according to Bloomberg, and is now perched as NYC’s most valuable startup, with a $1.2 billion valuation.
MongoDB’s $5,000/year subscription software has become a leading NoSQL database service, with Goldman Sachs, MetLife, and numerous startups using the tool. CEO Max Schireson says the company plans to expand worldwide in the coming months, as well as aiming to continue its pattern of doubling sales and employee numbers each year.
The company was founded by DoubleClick executives Dwight Merriman and Eliot Horowitz in 2007, and is growing more than 300% a year in the Europe, Middle East and Africa. Long-term, MongoDB will be looking to challenge incumbent players like Oracle, SAP and IBM, and has so far raised over $243 million in total VC funding.
As we’ve said before, it’s the most boring companies — those focused on office services, enterprise communications and operational databases– that have the largest revenue opportunities. Revenge of the nerds, ya’all…