Oct 05

Graph database company Memgraph raises $9.34M

Funding Rounds

▤ Summary

Graph databases underpin many modern applications, enabling everything from social networks to fraud detection software to extract insights by connecting the dots between pieces of data that aren’t obviously related. “Our customers’ biggest pain point is the inability to analyze and gain insights from multiple data sources that allow them to build applications on top of them,” Memgraph cofounder and CEO Dominik Tomicevic told VentureBeat. “To respond to that, we’ve decided to adopt an extremely permissive version of the BSL, which gives users all the important open source benefits — the right to inspect; right to repair; right to improve and deploy to production without restrictions on scalability, performance, or data size. And then there is the cloud-based Memgraph offering, a fully managed and hosted affair that will likely remain in beta until early 2022. Notable players in the commercial graph database space include Microsoft, AWS, Oracle, and IBM. “Where we feel Memgraph stands out is that we provide cutting-edge network analytics — technology typically exclusive to big tech companies like Google and Facebook — and allow developers to use these insights and leverage the graph to build powerful applications with ease,” Tomicevic said.