Open source database provider wins another £11m in funding

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Open source database provider wins another £11m in funding

Antony Savvas

MySQL AB, the developer of the leading open source database, has raised a further $18.5m (£11m) in funding.

Venture capital has been ploughed into MYSQL AB by Intel, Red Hat, and SAP, among others.

MySQL AB said it will use the proceeds to fund continued growth into the enterprise database market, including new product development as well as expansion of business development, sales and marketing activities.

Marten Mickos, MySQL AB chief executive officer, said, "Our corporate investors were carefully selected as strategic partners because they are among the key IT infrastructure providers for the modern enterprises of today and tomorrow."

Steve Harrick, managing director and general partner of IVP, which organised the venture capital investment, said, "With the release of MySQL 5.0, the company is offering deep functionality at a fraction of the cost of the competition.”

Including this latest round, MySQL AB has now received around $39m in venture funding. 


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