Vertica Systems Raises $23.5 Million in Financing.Newest Mike Stonebraker Company Closes the Innovation Gap in Database Technology with Next-Generation Database Management System ANDOVER, Mass. -- Vertica Systems, Inc. (www.vertica.com), a software company co-founded by database research and technology pioneer Dr. Michael Stonebraker Michael Stonebraker is a computer scientist specializing in database research and development. His career covers, and helped create, the majority of the existing relational database market today. and startup veteran Andy Palmer, today announced that it has raised a total of $23.5 million in financing with the recent completion of a $16.5 million Series B round. The round, which was co-led by new investors New Enterprise Associates (NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen ) and Kleiner Perkins Caufield & Byers, includes previous investors Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. and Highland Capital Partners Highland Capital Partners is a global venture capital firm with offices located in Boston, Silicon Valley, Geneva, and Shanghai. Since its inception in 1988, the firm has invested in more than 180 early and growth stage companies and taken a sector-focused approach to investing in . Vertica also announced that Kleiner Perkins general partner Ray Lane will serve as a special advisor to the company. Mr. Lane was formerly president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Oracle. The latest round of investment will be used to help Vertica bring its product to market. Previously, Vertica had raised $7 million from Bessemer and Highland. Vertica has built a new, ultra-fast database management system for data warehouses, data marts and other query-intensive business applications. The Vertica Database[TM] is currently in trial with a number of customers and will be commercially available later in 2007. Product details will be available at that time (product details are available now to members of Vertica's Early Adopter Program; see http://www.vertica.com/earlyadopter for information about becoming an Early Adopter). "Vertica is closing a two-decade gap in database innovation," said Peter Barris, NEA's managing general partner. "The Vertica Database is a new SQL engine A program that accepts SQL commands and accesses the database to obtain the requested data. Users' requests in a query language or database language must be translated into an SQL request before the SQL engine can process it. that's optimized for a pressing business need: to provide more affordable access to the wealth of enterprise data for many people within the enterprise." "Vertica is bringing an end to the stranglehold of the One-Size-Fits-All Database," said Ray Lane. "One size no longer has to fit all in databases. Vertica has shown that it's possible to build special-purpose database engines that are extremely cost-effective at solving big problems - in this case, the management of large, read-intensive databases. We think that Vertica is going to be a significant independent database company." "In addition to helping us bring our product to market, this round of investment significantly deepens our investor bench strength," said Mr. Palmer, Vertica's co-founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our colleagues at Bessemer and Highland have been valuable partners, and we are looking forward to NEA and Kleiner Perkins joining the Vertica team." Vertica was co-founded in 2005 by Dr. Stonebraker, considered one of the founding fathers of the database industry, and Mr. Palmer, an executive with a track-record of starting successful technology and life sciences companies. Highland helped start Vertica by introducing Dr. Stonebraker (who is serving as Vertica's chief technology officer) to Mr. Palmer. In a separate news release today, Vertica announced the appointment of Jerry Held as chairman of the board. Dr. Held is a leader and veteran innovator in the database industry, as are Mr. Lane and Dr. Stonebraker. About Bessemer Venture Partners Bessemer Venture Partners (BVP BVP bovine viral papillomatosis. ; www.bvp.com) is the oldest venture capital practice in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . With offices in Silicon Valley, Boston, New York Boston is a town in Erie County, New York, United States. The population was 7,897 at the 2000 census. The town is named after Boston, Massachusetts. The Town of Boston is an interior town of the county and one of the county's "Southtowns. , Shanghai, Mumbai, and Bangalore, the firm manages two billion dollars of venture funds, carrying on a tradition of hands-on, active venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so that has continued since 1911. Over 100 Bessemer companies have gone public, including American Superconductor American Superconductor is a technology company based in Westborough, Massachusetts specializing in the design and manufacture of superconducting wires and power converters. It is listed on Nasdaq under the symbol AMSC. , Ciena, Gartner Group, Ingersoll Rand, International Paper, Maxim, Parametric, Perseptive Biosystems, Staples, VeriSign, Veritas, and W.R. Grace. About Highland Capital Partners Highland Capital Partners (www.hcp.com) was founded with the mission of helping great people build great companies. Since its inception in 1988, the firm has taken a sector-focused and stage-diversified approach to investing in exceptional information technology, communications, and healthcare companies. With over $2.6 billion of committed capital, Highland has invested in and worked to create such firms as Ask Jeeves, Avid Technology, Be Free, CheckFree, Conor Medsystems, Lycos, MapQuest, Ocular Networks, Sybase, Telica, VistaPrint and WebLine Communications. About Kleiner Perkins Caufield & Byers Since its founding in 1972, Kleiner Perkins Caufield & Byers (www.kpcb.com) has backed entrepreneurs in 475 ventures, including AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , Align, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Hybritech, IDEC IDEC Instituto Brasileiro de Defesa do Consumidor (Portugese: Brazilian Consumer Protection Agency) IDEC Information Design & End-User Computing IDEC Interior Design Educators Council, Inc. Pharmaceuticals, Intuit, Juniper Networks, Lotus, Netscape, Nuvasive, Sun Microsystems, Symantec, Verisign, and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm's portfolio companies have gone public, and many other ventures have achieved success through mergers and acquisitions. KPCB has broadly invested in both life sciences and information technology since inception in 1972. In the last six years, KPCB has expanded its focus to include Greentech and pandemic pandemic /pan·dem·ic/ (pan-dem´ik) 1. a widespread epidemic of a disease. 2. widely epidemic. pan·dem·ic adj. Epidemic over a wide geographic area. n. preparedness. About New Enterprise Associates New Enterprise Associates (NEA, www.nea.com) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same core principles: supporting its entrepreneurs, providing an excellent return to its limited partners and practicing its profession with the highest standards and respect. NEA focuses on investments at all stages of a company's development, from seed-stage through IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . With approximately $8.5 billion in committed capital, NEA's experienced management team has invested in over 550 companies, of which more than 155 have gone public and more than 220 have been acquired. About Vertica Vertica Systems (www.vertica.com) is the innovator in the market for affordable, high-performance database management systems. Co-founded by database research and technology pioneer Dr. Michael Stonebraker and startup veteran Andy Palmer, Vertica has developed ultra-fast database technology for storing and querying very large databases using industry-standard hardware. With its unmatched scalability, flexibility and ease of use, Vertica's solution will bring corporate database architectures into the 21st century. Vertica is headquartered in Andover, Mass., and has raised $23.5 million in financing from Bessemer Venture Partners, Highland Capital Partners, Kleiner Perkins Caufield & Byers, and New Enterprise Associates. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion