Terms not disclosed…
EnterpriseDB, an open source data management platform provider, has been bought by private equity firm Great Hill Partners for an undisclosed sum.
The Postgres specialist (a relational database management system that supports both SQL and JSON queries) has approximately 4,000 global customers.
It has reported growth of 40 percent-year-on-year and has experienced 37 consecutive quarters of subscription growth, the company said in a release. The acquisition comes amid an ongoing shakeup in the database software market, driven by a surge in data generation and use. IDC estimates the market to be worth $98 billion by 2023.
Great Hill Partners specialises in mid-market growth companies, with 50 in its portfolio. It typically invests $40 – $250 million and holds its investments for 3-7 years.
The private equity firm has named Postgres inventor Michael Stonebraker, and database expert and entrepreneur Andy Palmer to PostgresSQL’s Board of Directors.
Postgres Market “Exploding”
“This acquisition comes at a time when the Postgres market is exploding,” said Ed Boyajian, president and CEO of EnterpriseDB. “Great Hill [will] help us accelerate our growth by delivering new services and technological innovation.”
Drew Loucks, Principal, Great Hill Partners, added: “Ed and his team have built EnterpriseDB into a clear innovator and leading provider of a high quality and flexible Postgres database management platform that enterprises are increasingly demanding. With the enterprise shifting to open source database management systems and multi-cloud deployments, the company is poised to experience explosive growth and we’re excited to be partnering with the team to unlock this value.”
(The company competes with public cloud providers: AWS is among those offering a managed PostgreSQL service via Amazon RDS.)
“Having been there at the beginning of Postgres, I am excited to re-engage with the community and to partner with Ed, Andy, Derek and the EnterpriseDB team to help drive innovation of EnterpriseDB’s offerings,” said Stonebraker. “EnterpriseDB is the leading Postgres company, and I look forward to serving as an advisor to the company.”
EnterpriseDB customers typically use the database for transaction processing, data warehousing, customer analytics and web-based applications, both on-premises and in the cloud. EnterpriseDB is based in Bedford, Massachusetts.