Cambridge, 8th March 2005: Zeus Technology, an acknowledged leader in Internet infrastructure solutions today announced that it had raised three million pounds in funding. Advised by First Capital, funding has been secured through Scottish Equity Partners and Cazenove Private Equity and will be used to drive sales of its industry leading Zeus Extensible Traffic Manager (ZXTM) solution.
Launched in April 2004, ZXTM enables companies to securely manage and optimise traffic around both web-based applications and websites, ensuring the highest levels of security, resilience and performance for web based applications and delivering swift and seamless interaction between web-enabled application services.
Market analysts have estimated that the total market for application acceleration equipment was approximately $1 billion in 2004, with the fast-growing application delivery controller segment (where Zeus is active) reaching $220 million.
"Zeus is at an important point in its lifecycle and this current round of funding will help the company solidify its position within the fast-growing application management market and provide us with the backing to expand," explained Paul Brennan, chairman, Zeus Technology. "Weâve developed a fantastic family of products around ZXTM and established technology leadership within our core markets. The next obvious step is to build upon our current success and expand our sales and marketing to secure significant market share and we are delighted to be working with investors who have proved to be a great source of practical support in areas such as OEM relationships and recruiting key staff."
Zeusâs intelligent traffic management solutions are used by market leading organisations such as eBay, E*Trade, Cable and Wireless, NEC, BT and Verisign. Additionally Zeus has technology and reseller agreements with some of the worldâs largest technology companies such as HP, IBM, Sun, Intel and AMD. The companyâs management team boasts over a century of in-depth commercial and industry specific experience from market leading organisations including Cisco, Symbian and Logica.
"Zeus is a company with a great deal of potential," said Russ Cummings, a director in Scottish Equity Partnersâ Information Technology Group. "Our experience in this sector and our connections gave us a unique insight to the business and means we can also be proactive about supporting the company in areas such as developing channels to market and its OEM strategy."
"Cazenove Private Equity has been an investor in Zeus for several years and we are very pleased with the companyâs progress," explained Tod Bensen, Chief Executive, Cazenove Private Equity. "This latest round of funding represents an important step in Zeusâ development and the company is poised to enter a period of rapid growth on the back of the ZXTM product line."
Since the company was formed in Cambridge in 1994, Zeus has established itself as the leading provider of Internet infrastructure solutions for the digital economy. The companyâs portfolio of products all help lower running costs whilst improving web site performance - from the smallest start-ups to the largest corporations.