EnterpriseDB has added its fifth strategic investor with KT, formerly called Korea Telecom, the latest to back the US-based provider of open source database software for companies.
KT and venture capital firm TransLink Capital provided the latest, undisclosed round of funding to EnterpriseDB.
Jay Eum, managing director of TransLink and former founder of the US corporate venturing operations of Korean-based conglomerate Samsung, has joined EnterpriseDB’s baord.
Eum said: "When making investments, we look for companies that have a proven track record of success and a unique market opportunity, especially in Asia. EnterpriseDB certainly has both.
"The company has built its products on a proven technology and is in a very strong market position as the only true open source alternative to large, expensive proprietary database vendors."
EnterpriseDB provides products, services, support and training based on the PostgreSQL open source database project.
Sang-Hong Lee, executive vice president, Technology Strategy Office of KT, said:
"We’ve decided to partner with EnterpriseDB because we share its mission of promoting open source and PostgreSQL solutions that provide freedom from high priced vendor lock-in.
KT join information technology companies Red Hat and IBM, and Japan’s Nippon Telegraph and Telephone (NTT) and Sony as a strategic investor in EnterpriseDB, while TransLink Capital joins VC peers Valhalla Partners, Charles River Ventures, Volition Capital (formerly Fidelity Ventures).
Red Hat invested in October, while the NTT Investment Partners corporate venturing fund came in a year earlier. IBM joined in EnterpriseDB’s $10m series C round in March 2008 when the company had raised $37.5m.