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Zenprise Closes $9 Million in FinancingRembrandt Venture Partners Leads Round on Heels of Record Breaking Quarter and Surge in Demand for iPhone Management in the Enterprise (June 30, 2010)
FREMONT, CA -- (Marketwire) -- 06/30/10 -- Zenprise, Inc., a leading provider of enterprise mobile management and device management software, today announced a $9 million round of financing. The round was led by Menlo Park-based Rembrandt Venture Partners, and included all current investors: Ignition Partners, Bay Partners, Mayfield and Shasta Ventures. The investment will be used to further expand sales and marketing efforts as well as to fuel research and development activities. Doug Schrier, General Partner at Rembrandt Venture Partners, joins the company's Board of Directors as part of the investment.
"Zenprise solves the challenges associated with enterprise mobility and management in a unique way," said Doug Schrier, General Partner Rembrandt Venture Partners. "Since the company's inception, they've led the industry in terms of strategic vision and the ability to execute on the product side. That's a winning combination in our book."
The sheer volume and complexity of employee-owned and corporate-issued smartphones entering the enterprise is driving demand for Zenprise's MobileManager software. A recent report from Aberdeen Group, "Enterprise Mobility Management: Optimizing the Full Mobile Lifecycle," found that the number of viable mobile platforms in the workplace more than doubled from three or four platforms a year ago to eight or nine today.
Much of this recent growth is driven by customer requirements to manage, monitor, and secure heterogeneous smartphones. Zenprise's MobileManager platform addresses these needs. As a result, Zenprise has seen its revenue grow 110 percent year over year between 2007 and 2009, and a first quarter revenue increase of 175 percent over the same time period last year.
"Our recent funding reflects the lead we have in the market and the unstoppable growth in enterprise mobility," said Jayaram Bhat, CEO of Zenprise. "We plan on using this funding to expand our sales and marketing efforts, as well as to continue building innovative solutions that meet the needs of our customers."
Zenprise's extensive list of more than 300 global customers spans a cross-section of countries and vertical industries including: Comcast, Boeing Corporation, Shook Hardy & Bacon LLP, Varian Medical Systems and Vodafone.
Rembrandt Venture Partners provides private equity capital to early stage technology companies. Rembrandt invests in a variety of sectors including Internet infrastructure, application software delivered as a service, communications, next generation wireless sectors and new media convergence.
In addition to the funding news, Zenprise today announced a series of milestone achievements detailing the growth of its business.
Zenprise's award winning software automates all aspects of mobile management, from monitoring to troubleshooting, from expense management to device management, from security to compliance. Using Zenprise, customers can reduce their mobile TCO costs by over 25 percent, increase customer service levels by over 75 percent and ensure corporate compliance rates of 100 percent. Supported smartphone platforms include BlackBerry®, iPhone, Palm, Windows Mobile and Android devices. Founded in 2003, Zenprise is headquartered in Fremont, California and is privately held with funding from investors Bay Partners, Ignition Partners, Mayfield Fund, Rembrandt Venture Partners, and Shasta Ventures. Zenprise's executive and product teams bring enterprise software experience from companies such as Mercury, EDS, Zambeel, Bay Networks, and Loudcloud. For more information, go to www.zenprise.com.
Barokas Public Relations
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