Estonian-founded ZeroTurnaround secures US$5 million in series B financing

ZeroTurnaround, the Estonian-founded producer of developer tools for creating quality software, has announced it has raised US$5 million in series B financing, led by Bain Capital Ventures with participation from Western Technology Investment, both existing investors. This brings the total amount of funding since the company’s founding in 2007 to US$15 million.

ZeroTurnaround was born in 2007, when Tartu-based Jevgeni Kabanov and Toomas Römer created the technology that helps Java developers write programmes faster and take written code into use. The flagship of the company, JRebel, makes it possible to instantly see code changes, and thus save four to six weeks of working time for a developer in the course of a year.

The company will use the capital to hire software development talent worldwide and continue to develop its JRebel and XRebel products, used by more than 65,000 active customers in 80 countries.  ZeroTurnaround will also expand its platform support with this new capital.

The company’s developer productivity tools have “transformed how software is created, enabling development teams to build, inspect and error-proof software with considerably less downtime,” the company said in a statement.” JRebel, the company’s flagship product, enables developers to make changes to class structures and resource and framework configuration files without the need to restart or redeploy the application. The ability to immediately see code changes speeds the development process by an average of 17 percent, saving developers five full work weeks a year.”

“ZeroTurnaround has built a tremendously successful business by solving some of the biggest challenges in the daily lives of developers,” said Ben Holzman, the managing director and co-head of the software practice of Bain Capital Ventures.

“We are passionate about taking away the frustrations and time draining activities that impede developer productivity and performance each and every day,” said Jevgeni Kabanov, the founder and CEO of ZeroTurnaround.

ZeroTurnaround has offices in Tallinn, Tartu, Boston and Prague.

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Cover: ZeroTurnaround staff at their Boston office.

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About the author: Sten Hankewitz

Sten Hankewitz is a lifelong journalist and Deputy Editor at Estonian World. Having lived in Estonia, Spain, the UK and all around the US, he now resides in Chicago, IL. He loves to write and besides working at Estonian World and doing some occasional blogging, he writes books and contributes to other outlets in Estonia, Israel and elsewhere. He has strong convictions and he shows them unashamedly. You can follow him on Twitter, like his page on Facebook or check out his personal blog. You can write to Sten at sten@estonianworld.com.