Second investment news for today – Neo Technology announces that they have raised $ 20 M (€ 17 M) led by Creandum! Previous investors Fidelity Growth Partners Europe, Sunstone Capital and Conor Venture Partners were also in the round, and Dawn Capital joins as a new investor.
Neo Technology is nowadays based in part in Silicon Valley, and with this investment funding in the company totals € 40 M. It was founded by Emil Eifrem, Johan Svensson and Peter Neubauer in 2007 as an open source project, and built on a technology developed by the team already in 2000. When the startup managed to get traction, it was decided to move part of it’s operation to the the US, when it raised a new round of funding. Emil opened up the SV office, while Johan and Peter stayed here. That is also how it still is – Johan, who still has the CTO role, is based in Malmö and the core product is still developed by the team in Sweden. Peter has since moved on, and is now one of the co-founders of Mapillary.
“Back when we started it was us and Polar Rose that where in the startup scene, actually sitting on the same corridor at MINC” is Emil’s remark of how it started.
Since then the startup has grown. Neo Technology has become a first hand choice for sorting and making big data useable. It can name giants such as WalMart amongst it’s customers. It is also the technology behind CrunchBase.
The startup has been thru many transistions. Not just the move of parts of operations to the US, but also the move from open source and pure technology to being a big business. The entire story can be read over at TechCrunch.
Read more what others are saying at PandoDaily and VentureBeat. As a sidenote, we can point out that with this story and the previous one from Mapillary, two startups founded here have topped TechCrunch today – not bad at all!
