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MongoDB — Operational Databases · fobi

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MongoDB

MongoDB operates a distributed document database designed for flexible schemas and developer velocity. Public since 2017. Atlas (managed service) now dominates revenue. Recently added vector search for AI use cases.

The most successful post-relational database company with $1.5B+ revenue, proving operational NoSQL databases are a durable category.

mongodb.com Operational Databases

United Statespublic · MDB

At a glance

Total raised

$192M

last round ipo

Headcount

5k-10k

approximate · public range

Headquarters

New York

United States

Founded

2007

19 years active

Status

Public

Ticker · MDB

Latest valuation

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Including Funding rounds, Bull / Bear thesis, Stock + earnings, Roster changes, Patents, News, and Open roles.

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Date	Stage	Amount	Valuation	Lead investors
Oct 19, 2017	IPO	$192M	$1.2B	—

AI bull / bear

Bull case

MongoDB just proved its resilience twice over. In Q1 it beat earnings and raised guidance, signaling the enterprise software rebound is real. By Q3 FY2026, revenue hit $628.3M at 19% growth — a deceleration, but at $1.5B+ scale, that is endurance, not decay. Atlas now dominates revenue, giving MongoDB a sticky, consumption-based moat that traditional on-prem rivals cannot match. The Gartner DBMS market share data confirms the secular shift: Oracle and the incumbents are slowly bleeding share to AWS, GCP, Snowflake, Databricks, and MongoDB itself. More importantly, MongoDB is positioning directly into the AI wave with vector search. CEO Dev Ittycheria is openly talking down PostgreSQL on AI workloads, claiming the document model and native vector support give developers a faster path to production. If MongoDB captures even a fraction of the AI application layer that PostgreSQL is targeting, the growth re-accelerates. The developer love is real, the balance sheet is clean, and the category is permanent.

Bear case

MongoDB's growth is slowing into a brutal competitive crossfire. At 19% revenue growth, the easy migration wave from relational to NoSQL is largely exhausted. The biggest cloud providers — AWS with DynamoDB and DocumentDB, GCP with Firestore — offer MongoDB-compatible or cheaper alternatives that are deeply integrated into their ecosystems. Atlas's advantage evaporates when a customer's data is already in AWS. Meanwhile, PostgreSQL has added document storage (JSONB), vector extensions (pgvector), and is the fastest-growing database in the world by developer adoption. MongoDB's own CEO feels compelled to "talk down" PostgreSQL, which signals fear, not strength. Cockroach Labs posted even more dramatic recent growth on the Gartner chart, suggesting the real action is in distributed SQL, not document databases. MongoDB also has no material AI revenue today — vector search is table stakes, not a moat. If hyperscalers bundle AI databases into their ML platforms for free, MongoDB gets squeezed. The stock's multiple assumes re-acceleration, but the fundamentals point to maturation.

Generated by deepseek-v4-flash · June 2, 2026Refreshes quarterly · see disclosures

MongoDB

At a glance

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Funding history

Stock performance

Latest earnings

How they make money

Founder backgrounds

Dwight Merriman

Eliot Horowitz

Kevin Ryan

AI bull / bear

In the news

MongoDB posts stellar earnings and revenue beat as software rebound accelerates

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Leadership

Products

MongoDB Atlas

MongoDB Atlas Vector Search

MongoDB Community Edition

Most recent patents

Open roles

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