“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.
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