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We have an official announcement to make, the world-conquering ZeroTurnaround team has new investors. See our press release below and cheer with us! (virtual beer included)
July 25, 2011, Tartu, Estonia – Bain Capital Ventures and notable angel investors, including Salil Deshpande, have backed ZeroTurnaround, the company behind innovative productivity enhancing solutions for the Java community including JRebel and LiveRebel. JRebel is the only solution that enables developers to save 15-20% of their coding time by removing the build and redeploy process, so they can instantly see changes made to their code, in their development application. LiveRebel is the only solution that enables production Java EE environments to automatically and instantly deliver hot updates to live applications, eliminating downtime and lost sessions.
Bain Capital Ventures’ backing of ZeroTurnaround includes a buyout of Webmedia Group’s ownership in the company. “We are thankful to Webmedia Group and their management team for providing initial seed funding and support to help us launch ZeroTurnaround”, said Jevgeni Kabanov, creator of the company’s flagship product JRebel, founder and CTO of ZeroTurnaround, “Now we are ready to go forward to conquer new countries and create new products with our fantastic international team and partners.” Taavi Kotka, Estonian Business Line Manager explained: “It is an intoxicating and exciting feeling to witness the birth of a new invention and see its progress towards conquering the world. Big thanks to the ZeroTurnaround team whose success has kept us high for the past 4 years. At the same time, we do realize that ZT needs different partners to reach the next level.”
Bain became involved with ZeroTurnaround because of the high productivity improvements ZeroTurnaround delivers to their customers by addressing core problems in Java. “We are proud to partner with the entire ZeroTurnaround team to build a world-class infrastructure software company. The innovation at ZeroTurnaround helps the Java community deliver better code in less time and with less downtime. Additionally, ZeroTurnaround’s value and uniqueness was recently showcased as the ‘Most Innovative Java Technology 2011’ in the JAX Awards,“ said Ben Holzman, Partner at Bain Capital Ventures. “ZeroTurnaround’s fantastic technical team has built great software that improves productivity for customers around the world. We look forward to aiding the company’s expansion into North America.”
“With triple-digit growth every year since inception, and nearly 300% in 2010, we are excited to work with the team of Ben Nye and Ben Holzman from Bain Capital along with Salil Deshpande, the same team that backed and helped build dynaTrace Software, a recent success story in Java and .Net performance management,” said David Booth, CEO of ZeroTurnaround.
Founded in 2007 in Estonia, ZeroTurnaround makes Java more productive for both development and production teams with award-winning Rebellion technology. JRebel and LiveRebel integrate directly into the JVMs, application servers and development tools of the world’s leading financial, web application and technology firms, including the Bank of America, American Airlines, Lufthansa, LinkedIn, HP, Siemens, Logica, Kayak, Oracle, IBM, and more. ZeroTurnaround is proud to support the Eclipse Foundation as a solutions member. See more and join the Rebellion.
About Bain Capital Ventures
Bain Capital Ventures is the venture arm within Bain Capital, which has approximately $65 billion of assets under management worldwide. The firm’s history of investing in early stage companies dates back to 1984 with over 125 venture investments since inception. Bain Capital Ventures manages $1.5 Billion of assets, has over 70 active portfolio companies, and has offices in Boston, New York, and Palo Alto. The firm has a successful history of partnering to build great software companies, including: Solarwinds (NYSE:SWI), LinkedIn (NYSE:LNKD), dynaTrace Software (acquired by Compuware), Network Intelligence Corporation (acquired by EMC), Archer Technologies (acquired by EMC), AppAssure Software, Rapid7, SingleClick Systems, and VMTurbo. Bain Capital Ventures has helped steer many ideas to success by working in partnership with management teams, pairing talented and passionate entrepreneurs with industry experts, opening doors to customers, and collaborating on sound long-term strategies.
About Webmedia Group
Webmedia Group is headquartered in Tallinn, Estonia. The company is the largest software solutions provider for the Estonian market with growing international operations, employing about 600 specialists in total. Founded in 2000, the company offers software solutions to clients in the public as well as private sector. In 2008 and 2009, Webmedia Group was recognized among the 30 fastest growing technology companies in Central and Eastern Europe, and 500 fastest growing technology companies in the EMEA region.
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