Database provider MariaDB secures €25 million from European Investment Bank

MariaDB, an open source database provider, has secured €25 million in funding from the European Investment Bank (EIB) to increase its client base globally.

The investment comes via the European Fund for Strategic Investments (EFSI), a component of the European Commission’s Investment Plan for Europe.

The Finland-based company will use the new funds to hire more engineers in its Helsinki office as well as grow its sales and marketing teams in Europe, the US, and Asia. It previously raised $9 million last year from investors including Intel Capital.

The worldwide database market is tipped to reach $50 billion this year, according to IDC.

“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,” said MariaDB CEO, Michael Howard.

“Developing new, innovative products requires sustained investment,” added European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness. “I am delighted that the Investment Plan is unlocking finance to facilitate MariaDB's development programme, that includes expanding their engineering team as well as increasing international sales and marketing operations.”

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