Zend has recently started developing cloud computing applications.
Many start-up companies have made quiet internal investment rounds in the past few months. Because in most cases the investment was made to support existing activity and did not bring in new investors, there was no motivation to report it. However, occasionally some of these investments become known to the public because of unplanned circumstances.
Such is the case with Israeli companies Safend, whose field is endpoint security, and Zend, which provides PHP solutions. What the two companies have in common is the Intel Capital Fund, which it turns out invested in internal rounds held by both of them in recent months. Intel reported the investments at a conference it held last week, where it disclosed new investments it had made in cloud computing infrastructure companies. The new investments amounted to $25 million, divided between seven companies, but at the same time Intel Capital mentioned ten follow-on investments, the investments in Safend and Zend among them.
In both cases it was a matter of fairly small investments made by the existing investors in the companies. Zend raised $4 million. Besides Intel Capital, the round included another corporate venture capital fund, that of SAP. Zend has recently started developing applications suitable for a cloud computing environment.
Published by Globes [online], Israel business news - www.globes-online.com - on November 26, 2009
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