PHP company Zend Technologies Ltd. has raised $9 million in venture funding led by Greylock Partners, a current investor, with participation from all other previous investors including Azure Capital Partners, Index Ventures, Intel Capital, SAP Ventures, and Walden Israel. The company has raised $55 million to date including the current round of funding.
The investment will fund Zend's product development and market expansion to leverage the opportunities created as the entire PHP ecosystem is experiencing rapid adoption by mainstream corporate IT.
In 2009, Zend added 4,000 new customers, achieved record sales, and expanded into key markets such as the UK, Netherlands and India. Zend, which was founded in 1999, now has more than 1,000,000 registered users.
Greylock Partners Moshe Mor said, "Today's enterprises are looking to agile Web and Cloud-based technologies such as PHP to deliver business value better and faster. We believe that Zend's leadership position in the PHP space enables the company to drive its solution to deeper adoption across a broad commercial audience in the U.S. and around the globe."
Zend Technologies, CEO and co-founder Andi Gutmans said, "Technology cooperation with IBM, Adobe, Oracle, Microsoft and other industry leaders further enables us to deliver Zend PHP solutions broadly into corporate IT departments where simple yet powerful and scalable solutions for rapid application development are in high demand."
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2010
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