pgEdge Gets Strategic Investment From Akamai, Qube
Summary
Grotech Ventures and Sands Capital Ventures-backed pgEdge, a Virginia startup developing software that helps companies use an open-source relational database management system, said it has secured strategic investments from cybersecurity and cloud computing firm Akamai Technologies, and global investment firm Qube Research & Technologies, an early customer of the company.Existing investors Rally Ventures and Sands Capital also participated. The startup has so far raised bringing $23 million from investors.Using its own technology, Alexandria, Va.-based pgEdge optimizes use of PostgreSQL, aka Postgres, a free and open-source relational database management system known for its extensibility and SQL compliance. Its multi-master replication technology, for example, significantly reduces latency and ensures ultra-high availability for mission-critical applications, enabling wide deployment of the database management system across the globe.These investments are a terrific validation of the value of pgEdge Distributed PostgreSQL, said pgEdge co-founder and CEO Phillip Merrick, who has previously led Fugue and SparkPost. Its notable exits include DoorDash, Funding Circle and Anaplan.At Grotech, general partner Steve Fredrick has overseen the firms investment in pgEdge. An alumnus of Virginia Tech, Fredrick worked as an engineer with IBM, before founding a software development firm, MartinScott.