Memgraph in a $9.34 million seed financing led by Microsoft’s venture fund M12.

Memgraph, a London, UK-based software company building a streaming graph application platform, announced that it raised equity funding totalling $9.34 million.

The money was raised from investors led by Microsoft's M12, which was joined by Heavybit Industries, In-Q-Tel, Counterview Capital, ID4 Ventures, and Mundi Ventures.

The funding will be used to grow the team, further accelerate R&D, and bring key features to market along with driving further adoption among the developer community.

Memgraph, founded in 2016 by CEO Dominik Tomicevic, developed Memgraph 2.0, an source-available platform that makes it easy for modern application developers to build streaming graph applications. The tool gives developers the ability to wrangle all of their data sources and build graph-based applications on top of their streaming data.

Memgraph 2.0 lets developers leverage well-worn, battle tested algorithms like PageRank, Community Detection, BFS, DFS, and more, without hiring a PhD or 10 data scientists. A developer is now able to build apps on top of those results: dashboards, visualisations, permission modelling, recommendation and fraud detection systems, and more.