August 1, 2006 9:35 AM PDT
EnterpriseDB lands another $20 million in funding
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EnterpriseDB, which has built a product on the PostgreSQL open-source database, said Tuesday that it has added $20 million in debt and equity in a Series B round of funding. The company has raised $28.5 million in total.
The company, founded about one year ago, has enhanced PostgreSQL to create a database that is compatible with Oracle's widely used corporate database. Its strategy is to offer an industrial-strength database at lower cost than existing products, EnterpriseDB has said. The funding, led by Fidelity Ventures, includes $16.5 million in capital. In addition, EnterpriseDB has secured a $3.5 million line of credit. Dave Power of Fidelity Ventures will be on EnterpriseDB's board.