Not sure about the funding, but it has been around for 20+ years. Maybe not tens of millions in VC funding, but it definitely has tens of millions of dollars worth of devs spending time on it.
Likely. Last year the foundation they're a part of received $25,000 in earmarked donations for Postgres which you can extrapolate over the 30 years it's been around to be a million-ish [1]. They've also received several million dollars in subsidies by starting as an academic project at Berkley in the 80s.