Leading European VCs Invest in MySQL AB
12 Nov 2001
UPPSALA, Sweden - (November 12, 2001) - MySQL AB, developer of the world's most popular open source database, today announced that it has closed a first round of financing with leading European early stage investors. The company plans to direct its new resources to support expanded worldwide sales and marketing of the MySQL database. In addition to the funding, MySQL AB has defied the economic downturn by recording September 2001 as its best month ever.
ABN AMRO Alfred Berg Industrifinans, a respected Scandinavian investment group and part of the ABN AMRO Bank Group, led the MySQL AB funding round. Other investors include a leading Finnish seed investor Eficor Ventures, Scope Capital, Texcel International and some prominent European business angels. Founded in 1995, MySQL AB has until now been supported exclusively through internal investments, and it has been profitable since 1996.
"MySQL AB represents a new breed of open source companies in which a broad-based community approach is linked with a profitable, sustainable business model," said Jon David Haugse of ABN AMRO Alfred Berg Industrifinans. "For us, this is an investment into a high-growth, high-margin opportunity," he continued. "We are pleased to help facilitate the next phase of MySQL's growth as it further expands into the corporate market as the backbone of mission-critical systems or embedded in commercial products."
Over three million users worldwide now use the MySQL server, an open source database that employs a unique software architecture that maximizes speed and power in an extremely compact design. From its inception, MySQL AB has passionately supported and promoted the open source philosophy that people should be able to freely read, redistribute, and modify the source code to promote rapid improvement and evolution of the software.
Noted John Wattin, MySQL AB's chairman, "Large organizations are increasingly using battle-tested, highly-reliable open source software as an alternative to traditional proprietary systems. The MySQL database is poised to take advantage of this trend with this latest financial boost and a product that is now, more than ever, ready for heavy-load, business-critical solutions."
MySQL AB has established a model for profitability and growth with an open source product that leverages the company's full ownership of the MySQL name and trademark as well as its deep expertise with the MySQL code. While the MySQL database server is available at no cost to everyone under the standard open-source GNU General Public License (GPL), MySQL AB offers non-GPL commercial licenses to organizations that want to develop and re-sell a commercial product containing MySQL code. MySQL AB also provides its customers with a range of support, consulting and training services, in which the company's founders, Monty Widenius and David Axmark, have hands-on involvement. MySQL AB also offers a MySQL partnership program.
MySQL AB develops, markets and supports the MySQL database server, the world's most popular open source database. The MySQL database, which is free and available to everyone, has over three million users, including major corporations such as Yahoo!, MP3.com, Motorola, NASA, Silicon Graphics, HP, Xerox, Cisco and Texas Instruments. It is available under the open-source GNU General Public License (GPL) or a non-GPL commercial license. MySQL is headquartered in Uppsala, Sweden, but is a true virtual company, with employees throughout the world. For more information about MySQL, please go to www.mysql.com
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MySQL is a trademark of MySQL AB in the USA and other countries. Other products mentioned are the trademarks of their respective corporations.