Zend Technologies Secures Capital from TriplePoint
syndicated from zend.com on July 10, 2008
Growth Capital Loan Strengthens Zend's Ability to Capitalize on Market OpportunitiesCUPERTINO, Calif., Jul 10, 2008 (BUSINESS WIRE) -- Zend Technologies, the PHP Company, today announced that it has obtained up to 7 million dollars from TriplePoint Capital, of Menlo Park, California. Zend will use the funds as needed, to take advantage of market expansion opportunities as they arise.
"The market for commercial web-based applications using PHP technologies is growing very fast in all geographies around the world," said Harold Goldberg, CEO at Zend Technologies. "Zend benefits from its strong position in this market, with an expanding list of major companies as customers and partners. We wanted to ensure that we continue our expansion and are therefore pleased to begin this partnership with TriplePoint Capital, a firm whose innovative approach closely aligns with our strategies in the web application market."
"We are excited to partner with Zend, because we recognize the potential of its business and believe that it has the management and technology strength needed to capitalize on this compelling opportunity," said Kai Tse, Director at TriplePoint Capital.
About Zend - The PHP Company
Zend Technologies, Inc., the PHP Company, is the leading provider of products and services for developing, deploying and managing business-critical PHP applications. PHP is used by more than twenty million websites and has quickly become the most popular language for building dynamic web applications. Deployed at more than 25,000 companies worldwide, Zend's family of products provides a comprehensive platform for supporting the entire lifecycle of PHP applications. Zend is headquartered in Cupertino, California. For more information, please visit http://www.zend.com
About TriplePoint Capital
TriplePoint Capital is the leading global specialty finance company devoted to serving high-growth private equity and venture capital backed companies throughout their lifespan with debt financing, equity capital, and complementary services. With unparalleled levels of creativity, flexibility and customer service, TriplePoint Capital has been a debt financing provider to Facebook, YouTube, Adify, Slide, Coskata, Ilypsa, and numerous other high profile technology and life sciences companies. Headquartered on Sand Hill Road in Menlo Park, California, TriplePoint Capital partners with high-growth companies around the world. For more information, please visit http://www.triplepointcapital.com