MariaDB plc has announced the signing of a $26.5 million senior secured promissory note agreement with RP Ventures LLC. The note, which is senior secured, will expire on January 10, 2024.
Additionally, MariaDB revealed a restructuring of its board of directors, with several directors resigning, effective October 10, 2023. The newly appointed directors include Yakov “Jack” Zubarev and Michael Fanfant, who will join existing directors Jurgen Ingels and Paul O’Brien. Jurgen Ingels will serve as the Chairman of the board. Michael Fanfant, the manager and sole member of RP Ventures LLC and a general partner of Runa Capital, is part of this new board structure.
MariaDB is a leading cloud database company whose products are utilized by companies of various sizes, reaching more than a billion users through Linux distributions. Their software has been downloaded over one billion times. MariaDB’s database products are engineered to support any workload, cloud, and scale, saving up to 90% of proprietary database costs.
This funding and board restructuring are pivotal steps for MariaDB in its ongoing operations and strategic plans.