MongoDB files for initial public offering

Database company MongoDB has filed to go public with the Securities and Exchange Commission in the US, TechCrunch reported.

MongoDB’s last round of funding was over two years ago, when it reported a $1.6-billion valuation.

It has raised over $300 million in equity financing since 2008 from investors such as Sequoia Capital, Intel Capital, and NEA.

The company helps enterprises manage databases, and its offerings include the MongoDB open source database and a database-as-a-service called Atlas.

Its open source “freemium” Community Server is popular among startups, and has been downloaded over 30 million times.

MongoDB acknowledged that since its database server is open source software, community edition users may not convert to customers. They may even become competitors.

“We do not have visibility into how our software is being used by licensees, so our ability to detect violations of the AGPL is extremely limited,” said the company.

Now read: Roku aims to raise $219 million in IPO

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MongoDB files for initial public offering