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EnterpriseDB Closes $20 Million Financing
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Taken verbatim from a PRESS RELEASE sent to us by Andy Astor, President & CEO of EnterpriseDB
EnterpriseDB Closes $20 Million Financing
Fidelity Ventures Leads Series B Investment in Enterprise-Class Open Source
Database Company
ISELIN, N.J., Aug. 1, 2006 - EnterpriseDB, the world's leading
enterprise-class, open source database company, announced today that it has
closed a combined $20 million debt and equity financing. A $16.5 million
Series B venture capital financing was led by Fidelity Ventures, a leading
provider of "Go-to-Market Capital(sm)" to early-stage information technology
and communications companies. Previous investors Charles River Ventures and
Valhalla Partners also participated in the Series B round. In addition,
EnterpriseDB announced that Comerica Bank has extended a $3.5 million line
of credit to the company. To date, EnterpriseDB has raised a total of $28.5
million. The new funds will be used to expand the company's sales and
marketing capabilities throughout the world and to continue development of
EnterpriseDB Advanced Server, the company's flagship RDBMS product.
In connection with the investment, Dave Power, a partner at Fidelity
Ventures who focuses on investment opportunities in enterprise technologies,
will become a member of EnterpriseDB's board of directors. Power also serves
on the boards of leading enterprise open source companies Black Duck
Software and SpikeSource.
"Fidelity Ventures invests in companies that have the potential to transform
large markets and become category leaders. EnterpriseDB, which combines the
advantages of open source software with the ability to run applications
written for Oracle, is disrupting the $13 billion enterprise database
market," said Power. "We see striking parallels here to Linux, an open
source offering that runs applications written for Unix. We're looking
forward to working with the team at EnterpriseDB to capture the huge
opportunity in front of them."
"Fidelity Ventures has an outstanding track record of helping their
portfolio companies to succeed," said Andy Astor, chief executive officer of
EnterpriseDB. "Their investment is a gratifying endorsement of our previous
efforts and our vision, and we are looking forward to working closely with
them to leverage their expertise, resources and relationships to accelerate
our growth."
About Fidelity Ventures
For over 35 years Fidelity Ventures has played a vital role in the
development of more than 100 information technology and communications
companies including GeoTel Communications, Teleport, COLT Telecom, ONI
Systems, WaveSmith, Connected and Airespace. Fidelity Ventures is able to
leverage a unique combination of resources, including a global network of
CIOs and IT executives, to help portfolio companies accelerate their market
entrance at one of the most critical times in a company's life cycle: the
Go-to-Market stage. A traditional fund-based venture firm focused on
financial returns, Fidelity Ventures currently manages more than $800
million in venture capital, and invests in U.S.-based companies out of its
Boston office, and in European companies out of its London office. For more
information, visit
About EnterpriseDB Corporation
EnterpriseDB develops and supports EnterpriseDB Advanced Server, an
enterprise-class relational database management system (RDBMS) that is built
on PostgreSQL, the world's most advanced open source database. EnterpriseDB
Advanced Server is compatible with Oracle applications, has the reliability
and scalability necessary for high-volume, mission-critical enterprise use,
and is very affordable. EnterpriseDB has offices in the U.S., Europe, and
Asia and is the world's leading provider of enterprise-class
PostgreSQL-based products and services. EnterpriseDB was founded in March,
2004, and is headquartered in Iselin, N.J. For more information, please
contact (732) 331-1300 or visit
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2 comments
I'm here to apologize. When your trackback to our posting of the EnterpriseDB press release of their recent investment came in, I clicked on the referring URI, and it didn't go to this posting. The link brought me to some sort of statistics page for your archive. I looked at your recent posts, but this one wasn't showing. Thinking the trackback was spam [we get many per day], I deleted it, but liked your blog [some tracback spam is obviously an attempt to get us to blacklist a valid domain]. So, in a knee jerk reaction, I deleted the trackback.
I humbly apologize. If you can, please resubmit the trackback.
And here's the link to Robert's post...
What to do with 20 million dollars
Excerpt:
"Dear Andy,
"Life can be tough for a man in your position. Now that you've got all that money, you have to figure out away to spend it all. Sure you've got a company to run, and lord knows between Bruce's dinner tab and the various bar tabs from Toronto... Read more
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