GRP Partners Backs Cloud Database Firm

Los Angeles-based venture capital firm GRP Partners has backed a provider of cloud-based databases, MongoLab, in its Series A funding. MongoLab said it has raised $3M in a Series A funding led by The Foundry Group, and including Baseline Ventures, GRP Partners, Freestyle Capital and Bullet Time Ventures. The lead investor on GRP's investment in MongoLab was not disclosed. MongoLab develops a cloud-based version of the MongoDB database software, which runs on Amazon EC2 and Rackspace. More information »