Creandum is an early stage VC primarily investing in Seed and A-rounds. Most of the investments are in the Nordic region but an increasing share is in Europe and the US. Internationally, Creandum is especially interested in founder teams that stem from the Nordic “DNA” or in domains where the advisory team has specific expertise such as marketplaces, games, music and SaaS. In special cases, the fund can also invest in later rounds that tick the boxes above but also are on the way to become billion dollar companies and category leaders. We are therefore very proud and honored that Creandum is leading the Series C round in Neo Technology, the leading graph database company.
Graphs are everywhere
In a world where big, connected data is becoming absolutely critical for more and more companies, graphs are often the best way to represent this connected data. Social networks is perhaps the use case that most easily comes to mind, but there are thousands of use cases where graphs are the ideal way to represent data including recommendations, logistics, banking, IoT, and identity management.
Graph databases are the fastest-growing database category
However, graphs are typically not modeled easily with traditional relational databases leading to performance issues. Therefore, a new category of databases called graph databases has developed over the last 10 years or so to manage graphs and today it is the fastest-growing database category according to DB-Engines. Forrester Research estimates that graph databases will reach over 25% of all enterprises by 2017 representing a multi-billion dollar market opportunity. Additionally, graph databases often provide companies with much more flexibility to model the changing nature of their businesses.
Neo is the category leader in graph databases
Founded in 2007 but building on technology being in production since early 2000, Neo Technology is today the clear category leader in graph databases with over 500,000 downloads since the launch of Neo4j 2.0 last year, thousands of production deployments, a thriving community of developers worldwide.
The Neo reference customer list is nothing short of amazing with leading enterprises and startups including Cisco, Walmart, eBay, UBS, Telenor, HP, Medium, Crunchbase, and many, many more.
But what impressed us even more is the level of satisfaction that these customers testified to with Neo receiving a 92% Net Promoter Score of the companies we interviewed as part of the due diligence.
High growth and attractive business model
Neo combines an open-source model driving adoption and an enterprise license model driving revenue growth. The company is consistently delivering triple-digit growth of recurring revenues.
An A-team to execute on a big vision
Finally, and most importantly, Creandum Advisors have been big fans of Neo Technology and founders Emil Eifrem and Johan Svensson, and COO Lars Nordwall for many years as they have built an amazing team primarily in Silicon Valley and Malmö, Sweden and we are super excited to assist them in their mission to help the world making sense of data.