"Zentyal is poised to disrupt the multibillion-dollar business for SMB servers.” Tom Henriksson, Open Ocean Partner and Zentyal Board Member.
Espoo, Finland (PRWEB) December 01, 2011
Open Ocean Capital, the early-stage venture capital firm with experienced investors and entrepreneurs from the MySQL success story, today announced the first investment from their recently closed Fund Three. Open Ocean Capital has invested over $1M in Zentyal, a developer of the Linux based Small Business Server.
“There is a huge opportunity and growth potential to serve small and medium-size businesses with a cloud-based ICT infrastructure. Zentyal is poised to disrupt the multibillion-dollar business for SMB servers,” said Tom Henriksson, Open Ocean Partner and Zentyal Board Member.
Open Ocean Capital focuses its investments in start-ups deploying user community and open source based business models with disruptive product offerings that have the ability to successfully challenge established modes of operation in the market. Investments are typically €0.5-1M ($0.6-1.2M), with one or several follow-on investments tied to growth targets. The maximum investment is €6M ($7.7M) per portfolio company.
“Zentyal is a fast-growing server solution that utilizes cloud-based services to make network management easy and secure for small and medium businesses. In just three years, we have become the reference in Linux SMB servers and now, with over 30,000 monthly downloads, the moment is right to get venture capital to decisively disrupt the market. Open Ocean Capital brings us both the funding and the best industry insight to help us challenge the current market leaders," said Ignacio Correas, CEO of Zentyal.
“Zentyal fits in perfectly with Open Ocean Fund Three’s investment focus. We are excited to support Zentyal in developing a rapidly scalable business on the basis of a vibrant open-source community and product,” Tom Henriksson continued.
Open Ocean launched Fund Three in May 2011, with €40M in capital in the first closing. Open Ocean's target markets include software products and services, mobile computing and applications, cloud computing, software-as-a-service, Enterprise 2.0 and open source – trends in which MySQL has played a catalytic role.
Open Ocean Capital
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About Open Ocean
Open Ocean is a leading early-stage venture capital company, with a particular emphasis on European start-ups deploying user community or open source business models. Open Ocean was the first major owner of MySQL AB, which was later sold to Sun Microsystems for $1 billion in 2008. Above and beyond many venture capital firms, Open Ocean is also able to leverage its direct experience as the founders of MySQL to provide hands-on support to the management of companies receiving Open Ocean’s funding. Open Ocean is led by partners Patrik Backman, Ralf Wahlsten and Tom Henriksson and by “community and open source wizard” Michael “Monty” Widenius, the original developer of the MySQL database and co-founder of the company MySQL AB. http://www.openoceancapital.com
Zentyal, developer of a Linux server of the same name, aims at providing small and medium businesses a professional, reliable and secure server solution that is also easy to use and affordable. To reach this goal, the company develops Zentyal server and provides support, services and solutions based on Zentyal server either through Authorized Partners or directly to end customers. The Zentyal Linux server development began in early 2004 and today it is the open source alternative to Windows Small Business Server. Currently Zentyal server gets about 30,000 monthly downloads and the project has an active community of more than 5,000 members. Zentyal is based in Zaragoza, Spain. http://www.zentyal.com