MariaDB is one of the fastest growing and most popular open source database software companies in the world. The Company offers the “database for all” and powers mission critical applications for leading enterprises. MariaDB is capitalising on its unique position at the nexus of open source and cloud, and its next growth phase will be primed by the NYSE listing and enhanced capital access. The transaction implies a pro forma enterprise value of approximately $672 million, representing 14.2x expected revenue of $47.4 million for the fiscal year ended September 2022.
Per Roman, Managing Partner at GP Bullhound, stated: “We have followed MariaDB ever since Monty Widenius started the company as the spiritual successor to MySQL. This is a great day for open source and another testament to our merchant banking approach, where we both invested in this world-class company through our growth funds, and advised management on raising equity and assisted on the listing.”
Marty Flaherty, Executive Director at GP Bullhound, commented: “It was a pleasure to work with the MariaDB team on such an important transaction. We expect to see continued demand for open source and cloud databases, and MariaDB is positioned at the forefront of this exciting opportunity. We look forward to supporting them through their next growth phase as a public company.”
This achievement represents yet another milestone for GP Bullhound, and is a further testament to the firm’s expertise in the SaaS sector, following recently completed transactions for Egoditor (acquired by Bitly), Logicbroker (investment by K1), Partnerize (investment by Accel-KKR), and ContactEngine (acquired by NICE).
GP Bullhound initially invested in MariaDB in 2020 through Fund V. Recent investments include causaLens, HackerOne, DuckDuckGo, Discord, Patreon, Revolut, Klarna, RavenPack and Whoop, among others.
About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 10 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.