The $325 million Series F funding round for Neo4j marks the largest investment round in database history, according to the company.
“With this largest investment round in databases, we’ve set our sights on ensuring that graph databases become the largest part of the new database market, and Neo4j a generational company that will last for decades,” Emil Eifrem, founder and CEO of Neo4j, wrote in a blog post.
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Eifrem predicts that there will be four distinct segments that sit side by side with the traditional relational database and that this new decade will bring in a “great unbundling of the database market.”
One trend is that graph databases will see grassroots adoption as it’s already the fastest growing database category in the last decade.
Another trend is that many of the largest enterprises have already adopted graph databases including all of the 20 biggest banks, seven of the ten biggest retailers and more.
“By 2025, graph technologies will be used by 80% of data and analytics innovations up from 10% in 2021,” the analyst firm Gartner wrote in its Top 10 Tech Trends in Data Analytics, 2021 report.
The third trend is that graph databases are becoming an essential tool for data scientists and not just developers.
Lastly, the Neo4j database is equipped to greatly scale as the company demonstrated on a live social network application that ran against over a trillion relationship graph, sharded across more than 1,000 servers and executed deep, complex graph queries that returned results in less than 20 milliseconds.