US-based database company Neo Technology closed a $10.6m round of series A funding on Wednesday, led by Fidelity Growth Partners, the corporate venturing division of US-based financial services firm Fidelity Investments.

Venture capital funds Sunstone Capital and Conor Venture Partners made up the investors in the round, having previously co-led Neo’s $2.5m seed round in October 2009.

Neo Technology builds NoSQL databases, and its Neo4J database engine is designed to solve complex data challenges for businesses. Neo plans to use the money to accelerate product development.

Chris Barchak, principal at Fidelity Growth Partners Europe, said: "Fidelity is focused on helping great entrepreneurs build successful companies and we are extremely excited to invest in a huge market opportunity for NOSQL. With big data challenging the enterprise, the notion of a ‘one-size fits all’ database is over. Neo represents a new generation of database vendors, as more and more companies look…

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