How MongoDB is scaling up its India operations

New York-headquartered MongoDB, a software company that specializes in developing and supporting MongoDB, an open-source, NoSQL database platform known for its flexibility and ease of use, continues to be on a high growth trajectory in India, beating even its parent that itself has been reporting fast paced growth. 

The US company that had ended its twelve months ended January 2023 with $1.28 billion in revenues, up 47% over the previous year, saw its Indian unit grow 57% in the corresponding period (year ended March 2023). 

According to data compiled by VCCEdge, a financial research platform, this has been in sync with nearly 70% CAGR clocked by the Indian unit over the last decade. 

The company is yet to compile financials for the year ended March 2024, but if its parent’s 31% growth is any benchmark, the Indian unit is likely to be around $50 million or around Rs 400-415 crore topline in FY24. This is still tiny, however, compared to $1.68 billion in global revenues. 

MongoDB primarily generates revenue through the sale of commercial licenses for its software, provision of support and maintenance services to enterprise clients, and offering MongoDB Atlas, a fully managed cloud database service. Additionally, the company provides consulting, training, and other professional services tailored to MongoDB implementation and optimization.  

It also collaborates with tech giants like Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure, for seamless integration and support for MongoDB on their platforms. Additionally, the company partners with various software vendors, system integrators, and technology firms to broaden its market reach and enhance its offerings. 

In line with its strategic initiatives, MongoDB, Inc. has outlined bold plans focusing on artificial intelligence (AI) and deeper integrations with AWS, Google, and Microsoft. Recent endeavors include investments in Atlas Vector Search and Queryable Encryption offerings, along with the global expansion of MongoDB Atlas to six additional cloud regions. 

During a recent interview with TechCircle, Boris Bialek, Field CTO at MongoDB, expressed the company's commitment to fostering innovation and supporting developer communities in India. MongoDB's AI Innovators Program targets startups, particularly digital natives, aiming to empower them in building cutting-edge AI applications.