Zend gets up to £3.5 million in funding from TriplePoint

Today I read the news that Zend has just received up to £3.5 million pounds from TriplePoint Capital, and that they will use the funds as needed to take advantage of market expansion opportunities as they arise. Its last round of funding, for £10 million, was raised in 2006.

TriplePoint Capital, a leading global finance company, has been a debt financing provider to Facebook, YouTube, Adify, Slide, Coskata, Ilypsa, and numerous other high profile technology companies.

Zend’s CEO Harold Goldberg said:

“The market for commercial web-based applications using PHP technologies is growing very fast in all geographies around the world”

But, why is Zend raising more money?

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