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Print Edition StoriesWednesday, February 14, 2007
Vertica lands $16.5M second funding round
Andover's Vertica Systems Inc. reports closing on a $16.5 million Series B round of financing, and appointing a new chairman.
The round, which was co-led by new investors New Enterprise Associates and Kleiner Perkins Caufield & Byers, includes previous investors Highland Capital Partners of Lexington and Bessemer Venture Partners of Wellesley Hills.
The latest round of investment, which raises the company's total venture capital to $23.5 million, will be used to bring Vertica's product to market, officials said.
Vertica, which was founded in 2005 by database researcher Michael Stonebraker and startup veteran Andy Palmer, produces database management systems. It had previously raised $7 million from Bessemer and Highland Capital.
Vertica also reports appointing as chairman Jerry Held, the former senior vice president of California-based Oracle Corp.'s server product division.
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