EnterpriseDB, the leader in accelerating Postgres® in the enterprise, today announced a majority growth investment from Bain Capital Private Equity (“Bain Capital”). EDB will continue to operate under the leadership of Ed Boyajian, President and CEO of EDB, an open source pioneer who has led the company since 2008. Great Hill Partners, which acquired EDB in 2019, will remain a significant shareholder. Financial terms of the private transaction were not disclosed.
Postgres is the fastest growing database management system in what Gartner views as an approximately $80 billion market. Postgres is also the world’s most advanced open source database and the top choice for enterprises looking to accelerate innovation, modernize their database infrastructure, and reduce spending. According to StackOverflow surveys of over 80,000 developers, combined Postgres is the most loved, most used, and most wanted database in the world. The capabilities of the Postgres database are significantly enhanced with EDB’s value added software and services, which provide customers the highest levels of performance, scalability, manageability, security, and compatibility. With more than 750 employees worldwide, the company currently serves more than 1,500 customers in 86 countries.
In 2021, EDB extended its Cloud offerings with EDB BigAnimal™, the first fully-managed Postgres database-as-a-service (DBaaS) that includes built-in Oracle compatibility, and the ability to deploy flexibly across any cloud including AWS and Azure. EDB BigAnimal enables mission-critical enterprise database applications to run securely in the cloud, with high availability, automatic backups, 24/7 operations and support.
“This significant investment from Bain Capital comes at a time when the database industry is undergoing a galactic shift,” said Boyajian. “Nothing is more strategic to businesses and governments than data, and the traditional database market is being disrupted. Postgres is the most transformative open-source technology since Linux and is challenging legacy database vendors for market leadership, and EDB is driving this shift.”
“Postgres is increasingly the database of choice for enterprises. We are excited to work closely with EDB’s talented leadership team, in partnership with Great Hill, to accelerate the company’s growth,” said Max de Groen, a Managing Director at Bain Capital Private Equity. “EDB is delivering on the promise of true multi-cloud flexibility to Postgres, alongside its long-standing advantages in Oracle database compatibility, high availability, and enterprise-grade tooling,” said Colin Motley, a Principal at Bain Capital Private Equity.
“As a significant investor in EDB, we recognized early on the tremendous shift that is taking place in the database industry,” said Drew Loucks, Managing Director at Great Hill Partners. “Since we first partnered with EDB, the company has unlocked significant value for its customers and now leads a market that continues to experience tremendous growth. EDB is well-equipped to accelerate growth, and we look forward to helping the company achieve its full potential alongside Bain Capital.”
The investment is expected to be completed in the third quarter of 2022 and is subject to regulatory approvals and customary closing conditions.
J.P. Morgan is serving as a financial advisor and Sidley Austin LLP as a legal advisor to EDB and Great Hill Partners. Goldman Sachs & Co. LLC is serving as the exclusive financial advisor and Ropes & Gray LLP is as the legal advisor to Bain Capital Private Equity.