Can you Make Money with a Cloud Database as a Service?

Is the cloud the right place to power your database driven apps? Startup Xeround certainly thinks so, and has convinced its investors of that too.
To date, Xeround has raised $38.8 million in three rounds of funding, the most recent a C series last week for $9.3 million. Xeround develops a cloud database-as-a-service technology that leverages the open source MySQL database. The company has multiple channel partnerships including Amazon and Rackspace, which are helping to drive adoption. Xeround's service officially become generally available in June of this year as a scale-out MySQL platform.
In terms of what Xeround plans to with their latest round of funding, Xeround CEO Razi Sharir told