Zend Technologies Inc. has opened 2011 by raising $16.5 million. Viola Private Equity led the round, with a $7 million investment.
Zend raised $9 million in its previous financing round in May 2010. Greylock Partners led that round, in which the company's current investors participated. Zend has raised nearly $70 million since it was founded.
Zend CEO Andi Gutmans and CTO Zeev Suraski founded the company in 1999. The company provides PHP open code-based software solutions for the development and management of business applications. "Globes" named the company as one of Israel's most promising start-ups in 2006-07.
Zend's customers include the New York Stock Exchange and General Electric Company (NYSE: GE). In today's press release, the company said that its revenue growth in 2010 was the fastest in its history.
Viola Private Equity focuses on late-stage technology companies. It was founded in 2008 and manages $164 million. Investments include Mobile Access Ltd. and Amiad Filtration Systems Ltd. (AIM:AFS). Its general partners are Harel Beit-On, Jonathan Kolber, Osnat Ronen, and Sami Totah. It is part of Viola Partners, which manages $2 billion. Beit-On has been appointed a director of Zend following the investment.
Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2011
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