NewSpring Capital Invests in EnterpriseDB
December 18, 2014
RADNOR, PA - December 18, 2014 - NewSpring Capital, a family of private equity funds, announced today that NewSpring Growth Capital, the firm's dedicated technology and business services growth equity fund, co-led an investment in EnterpriseDB, Corporation ("EnterpriseDB" or "EDB"). Proceeds from the investment will be used to further accelerate EnterpriseDB's growth initiatives.
EnterpriseDB, founded in 2004 and based in Bedford, MA, offers enterprise-class products and services based on the open source database, PostgreSQL. EDB extends Postgres with enterprise-class performance, security and management enhancements for its Postgres Plus family of products. In addition to the database server, EDB also provides a suite of Postgres tools, services and training. Enterprises worldwide, including 64 of the Fortune 500 and 111 of the Forbes Global 2000, use EDB's products and services to slash their database costs by 90% or more.
"Demand for Postgres is exploding as enterprises look for more technology and value from their database vendors," said Ed Boyajian, CEO of EnterpriseDB. "EnterpriseDB is growing dramatically. With this investor team, we are ready to expand at an even greater pace worldwide to support Postgres users at all stages of deployment."
"We're excited by the opportunity to partner with Ed and the rest of the EnterpriseDB team," said Eric Jensen, NewSpring Principal and newly added member of the EnterpriseDB Board of Directors. "We believe the Company is very well positioned to capture a share of the rapidly shifting database market with a high quality offering at a fraction of the cost of its competitors. Moreover, this investment will help to accelerate EDB's already impressive product development and customer growth."
EnterpriseDB is the leading worldwide provider of Postgres software and services that enable enterprises to reduce their reliance on costly proprietary solutions and slash their database spend by 90 percent or more. With powerful performance and security enhancements for PostgreSQL, sophisticated management tools for global deployments and database compatibility, EnterpriseDB software supports both mission and non-mission critical enterprise applications. More than 2,700 enterprises, governments and other organizations worldwide use EnterpriseDB software, support, training and professional services to integrate open source software into their existing data infrastructures.