The Estonian-founded, Boston-based, software developer ZeroTurnaround has raised USD6 million in venture debt funding.
USD3 million of it comes from the California-based Western Technology Investment, which was previously a backer of Google and Facebook. Two month ago, ZeroTurnaround raised USD3 million in equity from the Boston-based investment branch Bain Capital Ventures.
ZeroTurnaround was founded in 2007 in Tartu by Jevgeni Kabanov and Toomas Römer, who met while studying at the University of Tartu.
In 2006, Kabanov found the way to address the core problem which haunted web developers using Java’s programming language: the language was introduced in 1996, but developers had to write Java code on their own machines and then upload their code to remote servers for testing – “redeployment bottleneck”, as ZeroTurnaround puts it. Kabanov’s insight led to their start-up and two products: “JRebel” enables developers to instantly view code changes without redeploying the application server and “LiveRebel” enables operation teams to eliminate server downtime during live-app updates.
The company opened its global sales office in Boston in late 2011, but retains development centres in Tallinn and Tartu, Estonia, as well as a branch office in the Czech capital, Prague.
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Cover photo: Estonian President Toomas Hendrik Ilves visiting ZeroTurnaround’s Boston office in the US.
You left out how they plan to use the money – to hire in their Boston office.