Rally Ventures Leads Investment Round; Former Google CIO Ben Fried Joins pgEdge Board of Directors
ALEXANDRIA, Va., Aug. 27, 2024 — pgEdge, Inc., the leading company dedicated to distributed PostgreSQL, today announced a $10 million investment to accelerate its growth and further its distributed Postgres technology. The investment round is led by Rally Ventures, with additional contributions from existing investors Sands Capital Ventures and Grotech Ventures.
pgEdge remains the only fully distributed PostgreSQL database that is both open-source and entirely based on standard PostgreSQL. According to a 2024 Stack Overflow survey, PostgreSQL continues to be the number one database choice among developers. pgEdge’s unique multi-master (active-active) replication technology, which can operate across geographic regions, significantly reduces latency and ensures ultra-high availability for mission-critical applications.
In addition to the investment round, pgEdge is announcing the joining of Ben Fried, former Chief Information Office (CIO) of Google, to pgEdge’s Board of Directors. Fried brings a wealth of experience from his 14-year tenure at Google, where he oversaw the creation and deployment of technologies that power Google’s global enterprise operations. Prior to his role at Google, Fried spent over a decade at Morgan Stanley, where he was the architect of the firm’s web technology platform and led teams responsible for software development infrastructure and business intelligence.
“pgEdge is at the forefront of innovation in distributed PostgreSQL, a technology that is increasingly critical for enterprises needing ultra-high availability and reduced latency across geographic regions,” said Ben Fried, Partner at Rally Ventures. “The company’s highly experienced leadership team, with a proven track record in scaling early-stage companies, coupled with the company’s industry leading and open distributed Postgres technology, made this a compelling addition to our portfolio.”
Phillip Merrick, co-founder and CEO of pgEdge, expressed his enthusiasm for the partnership with Rally Ventures and the addition of Fried to the board: “We are pleased to welcome Rally Ventures and Ben Fried to pgEdge. Their investment and expertise will be invaluable as we continue to scale our operations. pgEdge’s strong revenue growth and the onboarding of cutting-edge SaaS and enterprise customers such as the European Parliament, Jobot, Enquire.ai, Qube RT and Kobold Metals underscore our momentum in the market.”
About Rally Ventures
Rally Ventures invests exclusively in early-stage business technology companies, focusing on entrepreneurs creating major new markets or bringing transformative approaches to existing ones. Since 1997, Rally Ventures’ partners and venture capital industry veterans have invested in or run early-stage enterprise business-to-business technology companies with a proven ability to deliver superior returns regardless of the overall market environment. For more information visit rallyventures.com.
About pgEdge
pgEdge, the leading company dedicated to distributed Postgres, has made its mission to make it easy for developers to build and deploy highly distributed database applications across the global network. Founded by industry veterans who have championed enterprise usage of the PostgreSQL database for several decades and helped run the world’s largest managed database cloud services, pgEdge is headquartered in Northern Virginia. The founders have previously founded and/or led successful companies such as webMethods (NASDAQ: WEBM), EnterpriseDB (acquired by Bain Capital), SparkPost (acquired by MessageBird), OpenSCG (acquired by AWS) and Fugue (acquired by Snyk). pgEdge investors include Rally Ventures, Sands Capital Ventures, Grotech Ventures and Sand Hill East. For more information visit www.pgedge.com.
SOURCE pgEdge
