WESTFORD, MA September 9, 2009 – MMV Financial (MMV) today announced that it has awarded $3 million in venture financing to EnterpriseDB, a leading provider of enterprise-class open source database solutions.
EnterpriseDB’s solutions, which leverage the open source Postgres database, allows customers to minimize database spend and greatly reduce one of the largest operating costs experienced by enterprises of all sizes. The company helps organizations to harness the power and economic advantages of the Postgres open source database safely and securely, with minimal disruption to existing operations.
“As more and more organizations search for cost effective database alternatives, this influx of capital comes at a pivotal time in our company’s growth,” said EnterpriseDB CEO Ed Boyajian. “The flexibility MMV provides will allow us to continue enhancing our products and services, while aggressively driving adoption of Postgres as a low-cost alternative to expensive proprietary databases.”
“MMV is thrilled to be engaged with EnterpriseDB. We have a strong belief in the strength and role of open source software in the database management space, and the company is clearly at the forefront of making open source databases a reality for enterprises,” said April Young, MMV’s US Managing Director.
About EnterpriseDB Corporation
EnterpriseDB, the enterprise Postgres company, provides enterprise-class products and services based on PostgreSQL, the world's most advanced open source database. The company's Postgres Plus products are ideally suited for transaction-intensive applications requiring superior performance, massive scalability, and compatibility with proprietary database products. EnterpriseDB has offices in North America, Europe, and Asia. The company was founded in 2004 and is headquartered in Westford, Mass. For more information, please call 978 589 5700, or visit www.enterprisedb.com.
About MMV Financial
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, Fonds de Solidarité des Travailleurs du Québec, HSBC Bank Canada, NewStar Financial Inc., ROI Capital, and Wells Fargo Company. For more information please visit: www.mmvf.com
For EnterpriseDB Corporation:
For MMV Financial:
Senior Vice President
Managing Director – US
MMV Financial USA Inc.