MarkLogic snags $102 million in new funding to push its database abroad
MarkLogic now has $102 million in fresh Series F cash, bringing total funding to date to $173 million and—according to a spokeswoman—a $1 billion pre-money valuation. It will use the money to fund expansion in Europe and Asia, the company said.
The company, which paints itself as a NoSQL database provider, was founded in 2001 as an XML database specialist. That means it handled document data in XML format whereas relational SQL databases deal only with row-and-table data. But, MarkLogic has since repositioned itself as a NoSQL, or “not only SQL” database that handles a wide variety of data types and formats.
NoSQL databases like MongoDB and Cloudera have taken the world by storm, but MarkLogic says big customer accounts want high-end features and support options that the other NoSQL databases don’t offer.
“While MongoDB and other open-source NoSQL databases offer flexibility and agility, most organizations need core enterprise capabilities like disaster recovery and high availability that Mark Logic offers,” said a spokeswoman for the San Carlos, Calif.-based company.
MarkLogic claims the FAA, Elsevier, the BBC, Dow Jones, Bank of America and the US Navy as customers.
Wellington Management led this round which included contributions from Arrowpoint Partners and existing backers Northgate Capital, Sequoia Capital, Tenaya Capital, and MarkLogic’s own president and CEO Gary Bloom, an industry veteran who has been an executive at Oracle, Symantec, Taleo and BMC.