Great Hill Partners has acquired Bedford, Massachusetts-based EnterpriseDB, a developer of Postgres software. The seller was PeakEquity Partners. No financial terms were disclosed. Jefferies was financial adviser to EnterpriseDB on the transaction.
Radnor PA, July 8, 2019 – PeakEquity Partners, (“PeakEquity”) a private equity firm focused on investments in software companies, today announced the sale of portfolio company EnterpriseDB (“Company”) to Great Hill Partners, a growth-oriented private equity firm. Financial terms of the transaction were not disclosed.
With over 4,000 global customers, EnterpriseDB is a top developer of Postgres software for the enterprise. Customers use EnterpriseDB software to handle large-scale transaction processing, customer analytics, data warehousing, and web-based applications. The Company’s portfolio of multi-cloud and on-premises Postgres performance, scalability, security, management tools, and Oracle database compatibility have contributed to Postgres’ stunning market growth within the enterprise.
“EnterpriseDB was PeakEquity’s first portfolio investment and a successful exit. We are very pleased with the Company’s organic growth and market penetration since our investment” said Paul Winn, Co-founder and Partner of PeakEquity Partners. “EnterpriseDB has tripled its Annual Recurring Revenue base (“ARR”) over our investment period and has accelerated its revenue growth rate to 40% year-over-year. We have enjoyed partnering with EDB’s leadership team on strategy, product, go-to-market, and key hiring initiatives.”
“We selected PeakEquity as our lead investor in 2014 due to their broad strategic and operational experience in building software companies. Over the past four and a half years Paul Winn’s strategic guidance as Chairman and the support of PeakEquity’s operating executive resources played an integral role in our success” said Ed Boyajian, President and CEO of EnterpriseDB. “This acquisition comes at a time when the Postgres market is exploding and we are excited about the next stage for the Company.”
Over PeakEquity Partners I, L.P.’s hold period EnterpriseDB augmented its senior leadership team, built an independent Board of Directors with strong operating executive talent, refined its go-to-market strategy and expanded product offerings. EnterpriseDB has experienced 37 consecutive quarters of ARR growth. DB-Engines.com named Postgres “Database of the Year” in 2018 for the second consecutive year as it has increased in popularity more than any of the other 300-plus monitored systems.
Jefferies served as exclusive financial advisor to EnterpriseDB in connection with this transaction. Additionally, Canaccord Genuity Group provided strategic support.
PeakEquity Partners is a private equity firm focused on investments in software companies. The principals of PeakEquity Partners have extensive experience as investors and operating executives in multiple market sectors. The firm leverages and provides access to operating resources to help provide companies an edge in capturing market segment leadership and achieving revenue growth and margin objectives.
About PeakEquity Partners
PeakEquity Partners (www.peakequity.com) is a private equity firm focused on investments in software companies. The principals of PeakEquity Partners have extensive experience as investors and operating executives in multiple market sectors. The firm invests in businesses that have large addressable markets, market-tested technology, products and offerings, and demonstrated traction with a meaningful base of reference-able customers. PeakEquity invests in companies with revenues of $15 to $50 million that have the potential for annual revenue growth in excess of 30%. PeakEquity can invest $20 to $50 million or more per portfolio company and will take minority or majority positions. The firm leverages and provides access to operating resources to help provide companies an edge in capturing market segment leadership and achieving revenue growth and margin objectives. PeakEquity has offices in Radnor, PA and New York, NY.
About EnterpriseDB Corporation
EnterpriseDB (EDB) (www.EnterpriseDB.com), the enterprise Postgres company, delivers an open source-based data management platform, optimized for greater scalability, security, and reliability. EDB Postgres makes organizations smarter while reducing risk and complexity with enterprise-proven management tools, security enhancements and Oracle compatibility. Over 4,000 customers worldwide deploy diverse workloads including transaction processing, data warehousing, customer analytics and web-based applications, both on premise and in the cloud. EnterpriseDB is based in Bedford, Massachusetts.