Stockholm-based database management and analysis startup DbVis Software has secured a €5.3 million funding round led by Industrifonden and Fairpoint Capital. The company also announced that it's appointed Martin Engdahl — who used to be a director at Salesforce Sweden — as its new CEO.
Founded in 2003, DbVis had not raised any funding before the current round. It plans to use the money to “expand product development, strengthen the team and further accelerate growth,” the startup stated in a press release.
DbVis's main software product, DbVisualizer is a multi-platform database management tool that has been downloaded more than 4.5 million times. The software is partly open-source and available in free and paid-for versions.