MongoDB, Inc. Thesis

MongoDB is the leading modern, document-based database. Its moat is its developer mindshare and the flexibility of its document model, which is well-suited for unstructured data and modern applications. The growth driver is its cloud database-as-a-service offering, Atlas, which is growing rapidly and simplifies database management for developers. The investment thesis is that MongoDB will continue to take share from legacy relational databases as developers build new applications in the cloud.