Open source database startup ArangoDB has closed its latest funding round at €4.2 million. This investment was led by Target Partners and follows the initial investment of €2.2 million last November.

The German-based company develops multi-model databases, combining graph, key/value, and JSON documents into one database, which it says will help other startups speed up the delivery of their software projects. It has two million downloads to date with 3,000 organisations using the database.

According to ArangoDB CEO Claudius Weinberger (pictured), the company will use the funds to boost its global ambitions, specifically in the US.

“After gaining traction on the product side, the company aggressively moved to sign landmark deals with some of the largest global organizations,” added Kurt Müller, partner at Target Partners. “This motivated us to further invest in the team and the growth.”

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