MySQL lands $18.5 million in third round

News.com says that Open-source database company MySQL said it has secured $18.5 million in series C funding, a round led by Institutional Venture Partners. The total venture investment in the company, which has operations in Sweden and Cupertino, Calif., is about $39 million.

The money will be used to fund the company’s growth, product development and expanded marketing and sales operations, MySQL said. Also participating in the round were Intel Capital, Red Hat, SAP Ventures and Presidio STV, the venture investment subsidiary of Sumitomo. “With the release of MySQL 5.0, the company is offering deep functionality at a fraction of the cost of the competition, prompting many CIOs to reconsider their database strategy,” said Steve Harrick, managing director and general partner of Institutional Venture Partners.

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Varun Krish

Varun Krish has been dabbling with computers and websites for almost 2 decades. He has traveled to over 24 countries and hopes to visit every country on earth one day. He is currently the Editor-in-Chief of FoneArena.com You can follow him on @varunkrish

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