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Backed by Charles River Ventures and Volition Capital, EnterpriseDB Raises $7.5M of $12M Offering - cbl
By citybizlist Staff
WESTFORD -- EnterpriseDB Corp. has raised $7.5 million from 12 investors in its $12 million mixed-securities offering, according to an SEC filing.
The Westford, Mass.-based company provides enterprise-class products and services based on the open-source database PostgreSQL.
Since it was founded in 2004, EnterpriseDB has attracted funding from venture-capital firms and strategic partners including Boston-based Volition Capital; Charles River Ventures, of Waltham, Mass.; Armonk, N.Y.-based IBM; Valhalla Partners, of Vienna, Va.; and Red Hat, of Raleigh, N.C.
Principals named in the filing are EnterpriseDB President and CEO Edward Boyajian; Radhika Samant, vice president of finance; co-founder Denis Lussier and fellow directors Gene Riechers (of Valhalla), Sean Cantwell (Volition), Jay Eum (Palo Alto, Calif.-based TransLink Capital), David Litwack, Austin Westerling and Robert Bearden.
Reg D filing: http://tinyurl.com/26tg2pz
Also at citybizlist, see:
EnterpriseDB Announces Strategic Investment by Red Hat
EnterpriseDB Announces Bailout Program for Besieged Oracle Customers
EnterpriseDB Names Larry Alston Vice President, Marketing and Product Management
Bios from EnterpriseDB's Web site:
Edward Boyajian - President and CEO
Before joining EnterpriseDB, Ed spent six years at Red Hat, Inc., the world's leading open source solutions provider, most recently serving as vice president and general manager of North America. Before that, he was vice president of Red Hat's global OEM business, responsible for all partnerships, including HP, IBM , and Dell. During his time at Red Hat, Ed was instrumental in developing the foundational methods for selling open source software into the enterprise.
Prior to Red Hat, Ed held executive sales and marketing positions at ArsDigita, an early leader in open source software for building database-backed community websites (acquired by Red Hat) and ServiceSoft (now Kana). Ed is a former U.S. Army Captain, and earned his MBA from Harvard Business School and his undergraduate degree from Boston University .
Radhika Samant - Vice President, Finance
Radhika Samant is a Certified Public Accountant and Chartered Accountant ( India ). Radhika started her career with S.B.Billimoria & Co. (at the time the Indian affiliate of Ernst & Young International and currently Deloitte and Touche) in the field of Public Accounting. After three years in public accounting she joined Kirloskar Oil Engines Ltd., Pune , India , where she headed the Foreign Trade Department and was a key contributor in spearheading the foreign exchange risk management policy of the Company.
Since moving to the United States she has worked with Everest Consulting Group as Manager, Finance where she helped set up and manage the Company's international operations. Prior to joining EnterpriseDB she was with Easylink Services Inc. as the Director of Financial Reporting and General Accounting.
Board of Directors
Denis Lussier, Co-Founder
Prior to co-founding EnterpriseDB, Denis was the CEO and Chief Architect at Fusion Technologies, a profitable, 200-employee technology services business that he founded in 1994. Fusion was a pioneer in global development, establishing distributed software development centers as early as 1999.
Prior to founding Fusion, Denis was an architect at Magna Software and a senior consultant at Ernst & Young.
Denis received a BS degree in Management Systems from Rensselaer Polytechnic Institute.
David Litwack
Dave Litwack has had a long career starting from the early days of the software industry. He was Executive Vice President responsible for product development at Cullinet Software, a mainframe database management company. Subsequently, he founded Powersoft, the leading Client/Server development tool vendor. Powersoft was acquired by Sybase Inc., where Mr. Litwack again headed all product development as Executive Vice President.
After helping drive the first two major phases of computing, Mainframes and Client/Server, Mr. Litwack became co-founder and CEO of SilverStream Software, one of the first companies to provide a Java based application server. SilverStream was acquired by Novell Inc, where he served as Senior Vice President until 2005.
Dave earned a BA degree from Brandeis University and a Masters in Computer Science from Boston University . He has served as Director for numerous companies including: Watermark, Atria, Trellix, eRoom and Excelon, in addition to Powersoft and SilverStream. He currently serves as Director for 170 Systems, mValent and EnterpriseDB.
Gene Riechers
Gene Riechers is recognized as one of the top value-added investors and board members in the Mid-Atlantic region. He has over twenty-five years of experience in senior leadership roles at venture capital firms and technology companies, and was named in 2009 to the AlwaysOn list of "Top 100 VCs".
Prior to co-founding Valhalla Partners, Gene was the founder and Managing Director of FBR Technology Venture Partners ("FBRTVP"). The FBRTVP Funds produced seven IPO's including webMethods, the most successful software IPO in history.
Gene is a Director of Rivermine, EnterpriseDB, Parature, ExaDigm, BlueStripe Software, and WellAWARE Systems. He also led Valhalla 's investment in RealOps (acquired by BMC Software - NASDAQ: BMC ) and LeftHand Networks (acquired by Hewlett-Packard - NYSE: HPQ). He is also a Director of the Mid-Atlantic Venture Association and a co-founder of The MINDSHARE Program, a leading organization for technology entrepreneurs in the Greater Washington area.
Prior to founding FBRTVP, Gene spent 16 years in senior operating roles with technology companies, including four early-stage ventures, all of which ultimately went public. Past investments include webMethods, Proxicom, LifeMinders, CareerBuilder, and Call Technologies (3Com).
Gene received a Masters in Business Administration from Loyola College (Executive Program) and a Bachelor of Science in Accounting from The Pennsylvania State University.
Sean Cantwell
Sean focuses on investments across all sectors for Volition Capital. He currently serves on the board of iPipeline, and is actively involved with EnterpriseDB, GeoLearning, MFG.com, Teliris and Vibes Media. Prior to helping found Volition Capital in 2010, Sean was a Vice President at Fidelity Ventures. From 2001 to 2004, Sean worked at Summit Partners, where he focused on mid-market buyouts and growth equity investments in the software, healthcare and financial services sectors. Sean began his career at Arthur Andersen and also spent time as a Principal at The Parthenon Group where he worked on a variety of strategy consulting engagements for private equity firms and large corporate clients.
Sean received a Bachelor of Business Administration degree from the University of Notre Dame and an MBA from Harvard Business School .
Austin Westerling
Austin joined Charles River Ventures in early 2000 and focuses on making investments primarily in enterprise software & services. He is currently a director of Secure Software and Trusted Network Technologies. Prior to joining CRV , Austin advised a variety of technology companies on strategic, operational and financial issues at The Boston Consulting Group (BCG).
Austin also has experience with Analysis Group Economics/Integral, Inc. and the New England Consulting Group.
Austin holds a double BA with distinction in Psychology and Economics from Yale University .
Jay Eum
Jay H. Eum is a co-founder and Managing Director of TransLink Capital. Jay is responsible for TransLink's investments in Carbonite, Melodis and XSigo as well as supporting TransLink's portfolio companies with their customers and partners primarily in Korea .
Most recently, Jay was the head of Samsung Ventures America. He was responsible for starting up the U.S. operations for Samsung Venture Investment Corp., the venture investment arm of Samsung, and leading their U.S.-based investments and portfolio management. Under Jay's leadership, Samsung Ventures America grew to a team of five investment professionals and invested over US$80M in 27 U.S.-based start-up companies. Jay directly led several successful Samsung Ventures' investments including AnalogTech (NASDAQ: AATI), Athena Semiconductor (acquired by Broadcom), DivX (NASDAQ: DIVX), Intellon (NASDAQ: ITLN, acquired by Atheros), MontaVista (acquired by Cavium), Pure Digital (acquired by Cisco), and Techwell (NASDAQ: TWLL) and Teknovus (acquired by Broadcom). Jay also led investments in Continuous Computing, GCT Semiconductor, InPhi, Intematix, Sandbridge and SiBeam.
Prior to joining Samsung, Jay was an investment officer with the Silicon Valley office of Vertex Management, a global VC firm headquartered in Singapore . At Vertex, Jay focused on investments in communications, mobile, and Internet including GRIC Communications (NASDAQ: GRIC ). He also represented Vertex at several portfolio companies including PayPal (acquired by eBay), Mobile 365 (acquired by Sybase), Aicent, and R2 Technology. Before Vertex, Jay was Senior Director of business development at Dialpad Communications (acquired by Yahoo), where he closed strategic partnerships with Microsoft, Cisco, and Earthlink. Jay also worked as an Associate at McKinsey in Palo Alto , New York , Beijing , and Seoul and at Goldman Sachs in Hong Kong .
Jay received his MBA degree from Stanford University and an M.S. in Biochemistry and B.S. in Chemistry from Seoul National University .
Robert Bearden
Until its recent acquisition by VMWare, Rob Bearden was President and Chief Operating Officer ( COO ) of SpringSource. Rob has more than 20 years of experience in the software industry, with a track record for building strong, global sales organizations and operations.
Before joining SpringSource, Bearden served as an Entrepreneur in Residence ( EIR ) at Benchmark Capital, a leading venture capital firm based in the Silicon Valley . He was also chief operating officer for OpenSpan, a desktop integration software provider, responsible for global sales, marketing, business development and administration.
Most notably, Bearden previously served as chief operating officer for JBoss, an open source middleware company, where he helped architect and execute the company's business model and managed its worldwide operations.
Prior to JBoss/Red Hat, Bearden was president of the Americas at i2 Technologies, a supply chain software provider, overseeing operations in the United States , Canada , Latin America and Mexico . He also served as senior vice president of worldwide sales for Manhattan Associates and spent six years at Oracle Corporation in various executive positions.
Posted: July 14, 2010