MariaDB receives EUR 25 million backing from EIB
The European Investment Bank (EIB) has announced a 25 million euro funding of MariaDB, the company that has brought about the fastest growing Open Source database.
The EIB funding is backed by the European Fund for Strategic Investments (EFSI), part of the European Commission’s Investment Plan for Europe that aims to reinvigorate investments in Europe.
MariaDB, whose European quarters are located in Espoo, Finland, will use the EIB funding to further product innovation and increase its sales and marketing teams in Europe, America and Asia. The funding will especially target European operations, and the company also plans new engineering hires in Helsinki.
“The investment from the EIB accelerates our ability to expand our product capabilities and continue to develop features that make MariaDB the easiest to use, the easiest to extend and the easiest to deploy in any environment,” says Michael Howard, CEO of MariaDB Corporation.
“This funding is part of a multi-step strategy to strengthen MariaDB across Europe, America and Asia, and will help foster the next phase of growth for the company,” Howard continues.
Estimates vary between industry experts on the database market, but ICD, for example, projects that the overall database market will reach 50 billion US dollars by 2017. Open source data bases are also increasing in popularity, up from 35 per cent four years ago to a new record high of 46 per cent, according to DB-engines.