Zend develops products for PHP development, and the company just hauled in $20 million in Series D Funding; a "strong candidate" for the open CEO job may be named in the coming weeks.
announced by the company will be used for several purposes, they disclosed:
"The new funds will enable us to expand faster in emerging geographical markets, accelerate our product development and extend the services organization to meet the demands of our growing number of enterprise PHP customers," said Andi Gutmans and Zeev Suraski, the co-founders of Zend Technologies.
Well-known venture firm Greylock Partners, a long-time fixture in the technology world through having backed numerous companies, signed on for this investment round. It is their first investment in Zend, and also places Greylock partner Moshe Mor on Zend's board of directors.
GigaOm lead writer story on the infusion of capital, they cited Gutmans on some of Zend's forward-looking thoughts:
Zend's goal is to be profitable by the end of 2007 and go public thereafter, Mr. Gutmans said. Currently, 50 percent of Zend's revenues come from outside of the United States. The company now intends to expand its business in Italy and the United Kingdom, said Mr. Gutmans.
Whatever transpires will take place with a new CEO heading up the company. Former CEO Doran Gerstel left Zend in April 2006, and that corner office has remained open. CNet blogger Stephen Shankland
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PHP Firm Zend Lands $20 Million
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