Server solution Zentyal has closed a series A venture capital funding of over $1 million by Open Ocean Capital, an investor in community and open source business. The funding will be used to support Zentyal’s expansion in the small and medium business server market that is estimated to reach 17.4 million units by the year 2017.
Zentyal, developer of the Zentyal Linux small business server, announced today that it has closed a series A venture capital funding of over $1 million USD by Open Ocean Capital, leading investor in community and open source business. The funding will be used to support Zentyal’s expansion in the small and medium business (SMB) server market that is estimated to reach 17.4 million units by the year 2017.
“Zentyal is a fast-growing server solution that combines cloud-based services to make network management easy and secure for SMBs. In just three years we have become the reference in Linux small business servers, and now, with over 30,000 monthly downloads and at break-even, we consider this is the right moment to get venture capital to disrupt definitely the market. We believe Open Ocean Capital is the best investor for us, as they can bring both the funding and the best advice to help us challenge the current market leaders” said Ignacio Correas, CEO of Zentyal.
“We are excited to become shareholders in Zentyal, as the company aims to disrupt the multibillion dollar business for small- and medium sized business servers” said Tom Henriksson, Open Ocean Partner. “Zentyal perfectly fits Open Ocean Fund Three’s investment focus, developing a rapidly scalable business on the basis of a vibrant open-source community and -product.”
Simultaneously Zentyal has also appointed new members to the Board of Directors: Tom Henriksson, Partner at Open Ocean and former Head of Corporate Business Development at Nokia, has joined the board alongside with Jorge Mata, Founder and President of Berg Networks and Founder of MyAlert.