Cambridge-based , a leading provider of web server software to a customer base including Hewlett-Packard, Silicon Graphics, Volkswagen Audi Group, Energis and eBay, announced today that it has raised third round funding of 5 million from a syndicate of investors.
Zeus Technology raises 5 million from syndicate led by UBS Warburg and appoints Executive...
The syndicate is led by UBS Warburg and includes Cazenove Private Equity, Sumitomo Corporation and Cross Atlantic Capital Partners, who previously led Zeus' second round funding.
The funding will enable Zeus to continue to invest in all functions of the company, particularly in the sales, marketing and business development areas. This will allow Zeus to increase its focus on the US market, respond better to opportunities in Europe and develop further its indirect sales channels. Zeus will continue to leverage its successful relationships with Hewlett-Packard globally and Sumitomo in Japan.
Investments in research and development will continue for the base Zeus Web Server product, with an emphasis on developing add-on products for specific market segments, such as the Zeus Mass Hosting Edition built for major ISPs and Telcos who wish to offer branded website hosting capabilities to their subscribers, and the Zeus Appliance Edition optimised for thin-server hardware platforms and end-user ease of use. Investments in global services will ensure customers worldwide continue to receive multilingual 24x7 support.
David Callear, Executive Chairman of Zeus, said 'We are delighted to have such a strong group of investors supporting Zeus in its next phase of growth. This round of funding will allow us to confirm our position as the world's leading provider of high-end web server software, to continue our excellent record of product development and to create sales and marketing teams in overseas markets, which already account for around 75% of sales. As Executive Chairman, I am looking forward to increasing my involvement with Zeus, supporting its continued expansion and its recently strengthened management team.'
Rob Woodward, Managing Director of UBS Warburg, said, 'UBS Warburg was appointed as financial adviser to Zeus in June this year and we have been very impressed by the quality of its technology and staff. Web server software is at the heart of the Internet and continued growth in bandwidth, Internet usage and increasing user expectations will fuel demand for scalable, reliable infrastructure software. Zeus produces the best product on the market today and we are proud to lead this round of funding.'
About David Callear
David joined the Zeus board in March 2000 and holds several non-executive directorships in a range of business sectors. After graduating in Management Sciences from Manchester University, David qualified as a Chartered Accountant with Arthur Andersen. He has spent most of his career managing organisational change in the quoted sector. This included senior management positions with Whitbread & Co. plc and, as CEO, with vehicle rental company T.I.P. Europe plc and household FMCG producer Jeyes Group plc.
Headquartered in Cambridge, United Kingdom, Zeus develops leading web server technology to provide the fundamental building blocks for internet infrastructure. Universally serving the net with its highly scalable and robust line of software products, Zeus Web Server, Zeus Load Balancer, Zeus Mass Hosting Edition and Zeus Web Server Appliance Edition, Zeus boasts an impressive customer and strategic partner base which includes world-class companies such as eBay, Sprint, Telefonica, Hewlett-Packard and Silicon Graphics. Zeus has enjoyed consistent growth since it was founded in 1995 and, in addition to conducting business on a global basis via the web, is represented in North America, Asia and Europe. For more information visit http://www.zeus.com
About UBS Warburg
UBS Warburg is a business group of UBS AG - one of the leading global financial services firms. UBS Warburg, itself a global financial services provider, offers a full spectrum of products to affluent and high net worth private clients, institutions and corporate clients worldwide. UBS Warburg participates in early stage private equity investments in the TMT sector and the group is targeting a portfolio book value of approximately CHF 5 billion by the end of 2002. UBS Warburg has 39,000 employees worldwide, of whom over 27,000 are based in the Americas. UBS Warburg operates from more than 400 offices in 40 countries. For more information visit http://www.ubswarburg.com
About Cazenove Private Equity
Cazenove Private Equity (CPE) was established in April 2000. Its first fund, the Cazenove New Europe Access Fund (CNEAF), raised 234 million from a combination of leading European institutional investors and Cazenove itself. CPE operates as a separate division of Cazenove, with the sole objective of producing superior returns for its investors, but has access to the resources of Cazenove as a whole. CNEAF invests in unquoted companies in the UK and Europe in the technology, media, telecommunications and internet sectors, with a primary focus on second and third round pre-IPO financings. CNEAF has to date invested in 13 companies with an average size investment of 3 million and has led the investment on half these occasions. For more information visit http://www.cazenove.com
About Sumitomo Corporation
Sumitomo Corporation plays a key global role in the exchange of goods, services and technologies among nations and cultures. We are one of Japan's largest sogo shosha, or integrated trading companies, and have long been one of the world's largest businesses in terms of sales. With a market capitalisation of about US$8.3 billion, in fiscal 2000 our trading transactions were worth approximately US$103 billion. We have more than 8,000 employees and, together with our 767 consolidated subsidiaries and associated companies around the world, employ over 33,000 people. Since June 1999, Sumitomo has been a partner of Zeus selling its products in Japan. For more information visit http://www.sumitomocorp.co.jp
About Cross Atlantic Capital Partners
Cross Atlantic Capital Partners (XACP) is a venture capital management firm operating several venture funds, including the Cross Atlantic Technology Fund (XATF) and The Co-Investment 2000 Fund L.P. XATF was established with three objectives: to capture the opportunity created by the explosion of IT start-ups in Ireland and the UK; to utilise the extensive US network and resulting deal flow of Cross Atlantic's partners; and to facilitate the cross Atlantic expansion of the Fund's portfolio companies. To address this opportunity XATF maintains offices in London, England; Dublin, Ireland; and Radnor, Pennsylvania, in the US and targets investments in innovative technology companies in these countries. The Fund specialises in linking its portfolio companies with the IT and capital markets on both sides of the Atlantic. For more information visit http://www.xacp.com