EnterpriseDB Closes $20 Million FinancingFidelity Ventures Leads Series B Investment in Enterprise-Class Open Source Database CompanyAugust 1, 2006EnterpriseDB, 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 CapitalSM“ 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 About EnterpriseDB Corporation |
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