MySQL AB Secures $18.5 Million in Series C Financing Round Led by Institutional Venture Partners
February 14, 2006
MySQL AB, the developer of the world's most popular open source database, has announced the completion of an $18.5 million Series C round of financing led by Institutional Venture Partners (IVP). The corporate investors in the round were Intel Capital, Red Hat, SAP Ventures, and Presidio STX. MySQL AB 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. The company has received approximately $39 million in venture funding, with other prominent investors including Benchmark Capital and Index Ventures. The release of MySQL 5.0 has prompted many CIOs to reconsider their database strategy, and the company is expected to have a lasting impact on the software industry by delivering more transparency and value to IT organizations everywhere.