Target Partners leads €4.2m round for ArangoDB

The VC originally injected €2.2m in the round in November 2016 from its second vehicle, a €113m fund.

The extra funding will be used to build the team in the US, where the company has recently hired business development staff as well as software developers.

Financial indicators were not disclosed; however, the company reports increasing its revenue tenfold from last year since hiring four sales people.

Previous funding
In February 2015, ArangoDB received its first funding round of €1.85m, led by Norwegian/Swiss family office Machao Holdings and information systems developer Triagens.

Target then led a €4.2m series-A that closed in two parts, including this final close in July 2017.

Company
Founded in 2014 and based in Cologne, ArangoDB has developed an open-source database that combines three data models (graph, key/value, JSON-documents) in one database and one query language.

The startup claims it has had 2 million downloads so far and its users include 3,000 organisations. It employs around 30 people, 20 of whom are in Germany, two in the US, two in Russia, one in India and the remaining five in other European countries.

People
Target Partners – Kurt Müller (partner).
ArangoDB – Claudius Weinberger (CEO).

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