Zero G Software snags 2nd funding round
This article originally appeared at:
Zero G Funding Covered by dbusiness.com
May 30, 2000 12:37 PM ET
By Karen Lam, dbusiness.com
SAN FRANCISCO, May 30 (dbusiness.com) -- Zero G Software Inc., a San Francisco-based computer software company, closed a second round of venture-capital funding.
The provider of multi-platform software deployment systems declined to reveal the amount of the funding. However, the company did say that the round was led by Opticality Ventures and includes Schoffstall Ventures and others.
Zero G Software says the fresh funding will help it expand its business model to the application service provider (ASP) market.
"They have core technology that has been out in the field for three years, and they're very proven," Hadar Pedhazur, Opticality's founder and principal, told dbusiness.com. "They have thousands of customers and their technology solves a very real need for installing software on cross-platform systems."
Opticality's share of the second funding round exceeded 50 percent, according to Pedhazur.
"The ASP market is new for Zero G, and in order to accelerate it, they definitely needed a second round of funding. For the firm to do it internally, to get the cash flow that way, would have taken a bit longer," he said.
Opticality's investments generally are in the range of $1 million to $5 million, in a single round. "That's the sweet spot," Pedhazur said.
Zero G Software was founded in 1996 by former Apple Computer product managers Greg Maletic and Eric Shapiro. Shortly after Apple's embracing of Java software technology, the two realized that the "means to deploy and install Java software across multiple platforms varied tremendously," according to the company.
It was launched with the idea of simplifying the installation process of Java on multiple platforms, and Zero G Software has won industry awards for its know-how.
The company is known for its InstallAnywhere family of products. Those products are used by such clients as Adobe Systems, Cloudscape, Federal Express, IBM, Nortel Networks and Sun Microsystems.
Karen Lam is a staff writer for dbusiness.com. E-mail her with story ideas at KarenL@dbusiness.com.
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