10gen, the creator and proprietor of the extremely popular MongoDB NoSQL database, is growing up fast and on Tuesday announced it has hired Sydney Carey as the company’s first-ever chief financial officer. Carey comes from enterprise software company Tibco where she was executive vice president and CFO.
According to 10gen CEO Max Schireson, Carey’s presence will be important for the company, which has more than 200 employees and should top 500 in the next couple years. While she helps grow and build the corporate infrastructure in the finance, legal and HR departments, Schireson can spend more time working directly with customers, partners and products.
Carey told me she’s excited about getting back into a high-growth company, especially one like 10gen that has a disruptive technology and open-source business model. Granted, open-source business models do bring their own unique set of challenges on top of those associated with startup businesses, she noted, but they also open up doors for new business.
“I think 10gen has all the elements there to make that a really good fit for me,” Carey said.
Schireson said Carey’s hire isn’t indicative of a forthcoming 10gen IPO, but that is something on which the company is focused. However, he added, some great companies have went public rather late in their lives, so 10gen isn’t rushing that decision and is instead keeping its attention of product development. The company has raised $81 million in venture capital since launching in 2007.
The addition of Carey is just the latest in a series of executive hires at 10gen that includes a handful of veteran big data and database industry vice presidents, as well as Senior Vice President of Worldwide Sales Phillip Carty.
Despite some criticism of its ability to scale beyond a handful of nodes, MongoDB is easily the most-used NoSQL database around, largely because it’s so easy for even novice NoSQL developers to work with and performs well with smaller data volumes. And the MongoDB ecosystem that 10gen helped catalyze is big, growing and potentially very lucrative. There are a handful of popular cloud services around such as MongoLab and MongoHQ, and Rackspace just bought its way into the mix by acquiring ObjectRocket.
Schireson said 10gen might consider some acquisitions that help advance the company’s MongoDB mission, but isn’t really looking at buying its way into the position of a one-stop NoSQL shop right now.
“Right now we’re 100 percent focused on MongoDB,” he said. “Everything we do is somehow related to that.”
This story was updated at 9:22 a.m. to correct the amount of venture capital 10gen has raised to $81 million from $86 million. The company changed the official amount between the time this post was written and the time of its publication.