Bhowmik's portfolio company NuoDB is being acquired by Dassault Systèmes
NuoDB, a portfolio company of Nilanjana Bhowmik, is being acquired by a prior corporate backer. Dassault Systèmes, which already owned 16 percent of NuoDB, said it is acquiring the rest of the company. Terms were not disclosed.
Based in Cambridge, Mass., NuoDB provides a cloud-native distributed SQL database that capitalizes on the competitive advantages of the cloud, with on demand scalability, continuous availability and transactional consistency, and is built for mission critical applications. It had revenue of about $6 million in 2019. Dassault said the acquisition will advance its platform cloud and data science strategy and strengthen its ability serve large SaaS deployments.
Nilanjana, who is a founder and general partner of Converge, invested in NuoDB while a general partner with Longworth Venture Partners. She joined NuoDB’s board in 2012 and has remained on it. Nilanjana is also on the boards of RapidMiner and Rize.
NuoDB, according to Crunchbase, raised a total of $85.2 million from a group, which in addition to Dassault and Longworth also included Hummer Winblad Venture Partners and Morgenthaler Ventures.