MongoDB proves it’s king of NoSQL databases with $150M in new funding

More evidence that MongoDB rules in online databases: the company just raised $150 million in new funding from an unnamed global financial services company, EMC(s emc), crm) and Altimeter Capital as well as from existing backers Intel(s intc), Red Hat(s rhat), New Enterprise Associates and Sequoia Capital.

mongodbBy almost any count, MongoDB is the most-used NoSQL database around. It is the foundation of many web and mobile applications from startups to big, big enterprises. And those apps include mission-critical stuff. For example, EnerNOC, an energy demand specialist  os using MongoDB to analyze its power grid data. MongoDB competes with other NoSQL players like Couchbase but is also making its presence felt to legacy database players including market leader Oracle(s orcl).

In a statement announcing the funding, MongoDB CEO Max Schireson said:

“Adoption of MongoDB has grown explosively over the last few years. This funding will allow us to continue to invest in the technology and the global operation our customers require. Building the product and company to bring greater agility and scalability to how organizations manage data will require a large and sustained investment. With this additional funding we will have the staying power to make these investments.”

The new cash brings total funding for the company, known until a few months ago as 10gen, to about $231 million in total and pushes valuation to $1.2 billion, according to Bloomberg News. The company is based in New York City and Palo Alto, Calif. The new funding comes atop a $42 million round last May and $20 million in September 2011.

MongoDB is attractive to many users not only because of the technology per se but because for those who do buy it is sold in an easy-to-adopt subscription model with prices at about $5,000 per year per server. That’s a lot more palatable buy to startups — and increasingly older companies as well that are weary of Oracle-style big up-front enterprise license fees and continuing support and maintenance fees atop that. And there is also a free version wherein lies the rub for MongoDB and other open-source products. How many of those customers actually pay to use MongoDB is an open question.

Still, given the interest in and widespread adoption of MongoDB and its ability to draw investors, it’s a force to be reckoned with in a crowded NoSQL database market.