Inovia Leads Extension to Neo4j Series F, Bringing the Largest Private Capital Raise in Database History to Over $390 Million
SAN MATEO, Calif., Nov. 9, 2021 /PRNewswire/ -- Neo4jⓇ, the world's leading graph data platform, announced today that Patrick Pichette has been appointed to the company's Board of Directors.
As Neo4j continues to extend its lead in the graph category that it created, Pichette will contribute to the company's evolution by drawing from decades of scaling for innovation and his passion for technologies that have a positive impact on the world.
Inovia Capital, where Pichette serves as Partner, led an extension to increase Neo4j's recent Series F funding round to $390 million – the largest investment in a private database company. New investor Alanda Capital Management and One Peak (an investor since 2018) also participated in the Series F extension.
Patrick Pichette joins Neo4j as an independent board member. Currently a partner at Inovia Capital, he has 30 years of financial and operating expertise leading world-class companies like Google, Sprint Canada, and Bell Canada to break through the complexities of hyper-growth and digital transformation. Patrick is now the Chairman of the Board of Twitter and Lightspeed. In addition, he serves as an independent investor, advisor, and board member to a number of startups and innovation networks around the world.
"We are looking forward to working closely with Neo4j's seasoned executive team as they chart the next chapter of the company's global expansion, market leadership, and innovation journey," Pichette said. "Neo4j's graph technology offers a truly unique solution to solve some of the world's most complex challenges, with a clear focus on promoting transparency and positive social change – this is very exciting."
Emil Eifrem, Neo4j's CEO and Co-Founder, characterized the news as a major milestone in Neo4j's journey to becoming a generational data infrastructure company.
"At a fundamental level, Patrick Pichette and his team understand Neo4j and share our belief in the power of graph technology to help us to understand the world better," Eifrem said. "Patrick's experience at Twitter and Google, both companies built on the transformative power of graphs, are invaluable to Neo4j at this stage of our journey. We welcome Inovia and Alanda as investment partners and thank One Peak for their continued support."
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 data connections at scale. Examples include determining the price of an airline ticket in real time, exposing complex criminal networks responsible for cyberattacks and money laundering like the ICIJ's most recent Pandora Papers investigation.
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.
For more information about today's announcement, read Emil Eifrem's blog post, Please Welcome Patrick Pichette – Inovia Partner, Former CFO at Google, and Current Twitter Board Chair – to the Neo4j Board.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Neo4j is the world's leading graph data platform. We help organizations – including Comcast, ICIJ, NASA, UBS, and Volvo Cars – capture the rich context of the real world that exists in their data to solve challenges of any size and scale. Our customers transform their industries by curbing financial fraud and cybercrime, optimizing global networks, accelerating breakthrough research, and providing better recommendations. Neo4j delivers real-time transaction processing, advanced AI/ML, intuitive data visualization, and more. Find us at neo4j.com and follow us at @Neo4j.
© 2021 Neo4j, Inc., Neo Technology®, Neo4j®, Cypher®, Neo4j® Bloom™ and Neo4j® Aura™ are registered trademarks or a trademark of Neo4j, Inc. All other marks are owned by their respective companies.
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