SkySQL has an enormous opportunity ahead as database products and services for the cloud is still a hugely untapped market.
Investments from Finnish Industry Investment Ltd., Spintop Ventures, Open Ocean Capital and OnCorps Enable SkySQL to Ramp Up Development for the Enterprise and Cloud
LONDON – April 18, 2012 – SkySQL, the first choice in affordable database solutions for the MySQL® and MariaDB® databases in the enterprise and the cloud, today announces that the company has raised $4 million in Serie A funding from a number of investors, including Finnish Industry Investment Ltd, a Finnish government-owned venture capital and private equity company. Also funding the round are leading European investors including Spintop Ventures and Open Ocean Capital, as well as U.S.-based OnCorps.
SkySQL will primarily use the investment to fund growth in its new product development, including adding critical positions. This is the company’s most recent move in expanding beyond a MySQL and MariaDB services-only company into a fully-fledged database products and services provider. SkySQL made its debut in October 2010 and has been funded to date with seed money from OnCorps, as well as Open Ocean Capital. Today, SkySQL is currently operating in 13 countries.
“We are extremely impressed with the expertise and track record of the SkySQL team,” said Juha Lehtola, Investment Director of Finnish Industry Investment Ltd. “SkySQL is already delivering solutions to a number of top companies and increasing their revenues significantly. We believe SkySQL has an enormous opportunity ahead as database products and services for the cloud is still a hugely untapped market.”
“Spintop Ventures is excited about working with the SkySQL Team and their superior services for the MySQL user community. We look forward to supporting them in introducing a next generation database offering to once again define the global database market”, said Finn Persson, Partner at Spintop Ventures.
"This investment will let us focus on ramping up development and efforts behind both enterprise and cloud database products that address a very real need in the marketplace," said Ulf Sandberg, Chief Executive Officer of SkySQL. "We also plan to build on our existing MySQL and MariaDB services offering, which offers customers unrivaled support, consulting and training."
About Finnish Industry Investment
Finnish Industry Investment is a government-owned investment company. We promote and stimulate Finnish business, employment and economic growth through venture capital and private equity investments. We invest in private equity funds and directly in growth companies. Our current investments amount to €690 million.
About Spintop Ventures
Spintop Ventures is an early stage European venture capital firm investing across the Nordic Region, which is funded by proven tech entrepreneurs and seasoned investors. Spintop Ventures is led by a senior investment team with extensive experience in successfully building international, early stage companies in the tech sector.
About Open Ocean Capital
Open Ocean Capital is operated by Patrik Backman, Ralf Wahlsten and Tom Henriksson as full time Partners, and with Michael 'Monty' Widenius as the Technology, Community and Open Source Wizard. Berndt Karsten and Peter Buch Lund strengthen our team when making strategy, governance, and investment decisions. Open Ocean consists of persons with complementary experience and skills, each having demonstrated strong leadership in their respective fields. Our philosophy is to have a team that together stands ready to support the entrepreneur actively and hands-on in all the critical areas required, so that the start-up is better prepared to build a scalable global business.
SkySQL Ab, the company behind the SkySQL™ Enterprise subscription, is the first choice in affordable MariaDB® & MySQL® database solutions for the enterprise and cloud. Founded by former executives, personnel, and investors of MySQL AB, SkySQL Ab is an open source software company committed to furthering the future development of MySQL-based database technologies, while delivering cost-effective database solutions and exceptional customer service. SkySQL Ab’s customers include ATOS Worldline, Canal+, Deutsche Telekom, ClubMed, Lotte.com, La Poste, Constant Contact and Virgin Mobile. SkySQL’s worldwide headquarters is located in Helsinki, Finland. The company has operations in Asia, Europe and North America. For more information, please call +358 9 42597815, or visit www.skysql.com, and follow conversations at www.twitter.com/skysql.
MySQL is a registered trademark of Oracle and/or its affiliates.
SkySQL and the SkySQL logo are trademarks of SkySQL Inc. or SkySQL AB. SkySQL is not affiliated with MySQL.
All other company and product names may be trademarks or service marks of their respective owners.
Ed Stevenson/Emma Naylor
0208 237 1109/1107
firstname.lastname@example.org / email@example.com
This press release was distributed by ResponseSource Press Release Wire on behalf of Positive Marketing in the following categories: Business & Finance, Manufacturing, Engineering & Energy, Computing & Telecoms. For more information visit http://pressreleasewire.responsesource.com/about.