3TS exits MammothDB in trade sale

3TS and Empower Capital backed the Bulgarian software developer with €1.6m in funding in May 2015. MammothDB used the capital to further develop its products and strengthen its position internationally, according to Unquote Data.

The investment was deployed from the GP's 3TS TCEE Fund III vehicle, which closed on €103m in 2013.

Empower is a fund established under the European Investment Fund's Jeremie Programme to invest around €16m pari passu with co-investors in Bulgarian small- and mid-cap businesses.

Company
Founded in 2011, Sofia-based MammothDB is developing an analytics database product designed to handle very large data volumes. The software is meant to allow businesses to analyse and create reports using big-data sets, which the company argues is traditionally too costly and time-intensive for all but larger businesses.

People
3TS Capital Partners – Svetoslav Stefanov (investment director).
MariaDB – Michael Howard (CEO).

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• Topics
• Exits
• CEE
• Technology
• Trade sale
• Bulgaria