We are very pleased to announce our fourth investment, SkySQL Corporation. SkySQL was founded by the core persons behind the monumental success of MySQL . The company was launched 18 months ago and has already built annual revenues of more than EUR 1 million providing superior services to the MySQL user community. However, this is just the first step. The company is now preparing to launch its own product offerings providing superior database cloud services aiming at again redefining the database market.
See SkySQL’s press release about the investment round below. We will present the SkySQL investment in more detail at our upcoming network gatherings.
SkySQL Raises $4 Million in Series A Round 18.04.2012
Investments from Finnish Industry Investment Ltd., Spintop Ventures, Open Ocean Capital and OnCorps enable SkySQL to ramp up development for the enterprise and cloud
SkySQL, the first choice in affordable database solutions for the MySQL and Maria DB databases in the enterprise and the cloud, today announces that the company has raised $4 million in Series 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 Maria DB 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, CEO of SkySQL. ”We also plan to build on our existing MySQL and Maria DB services offering, which offers customers unrivaled support, consulting and training.