the receipt of new funding.
" MySQL AB, developer of the world's most popular open source database, today announced the completion of an $18.5 million Series C round of financing led by Institutional Venture Partners (IVP), the Menlo Park, California-based venture capital firm. Corporate investors in the round were Intel Capital; Red Hat; SAP Ventures, a division of SAP AG; and Presidio STX, the U.S.-based venture investment subsidiary of Sumitomo Corporation.
MySQL AB will use the proceeds to fund continued growth into the enterprise database market, including new product development as well as expansion of business development, sales and marketing activities.
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