| BALTIMORE, MD Wed, Mar 5, 2008 Governor Martin O’Malley today announced that Zenoss, a growing technology company, has received a $250,000 investment from the Maryland Department of Business and Economic Development (DBED). The Annapolis-based company, which is considered a leading developer of IT management software solutions and commercial open source systems management, will use the State funds for growing its sales and marketing efforts. The investment will be made through DBED's Enterprise Investment Fund, a program designed to assist small start-up companies in the high technology sector.
“Maryland’s new economy is fueled by innovation in science, security and technology,” said Governor O’Malley. “Through the Enterprise Investment Fund, we are able to give cutting-edge companies like Zenoss the support they need to grow and expand in Maryland while investing in our State’s intellectual infrastructure.”
Founded in 2005, Zenoss provides “open source” network-monitoring software to commercial users. The company’s flagship product – Zenoss Core – was downloaded more than 500,000 times in 2007, ranking it among the top 10 downloads of networking software on Sourceforge.net, the world's largest Open Source software development Web site. In 2007, Zenoss saw its registered users increase to more than 25,000 and the company’s commercial customer base increased tenfold.
“Companies are eager for alternatives to the costly and cumbersome network and systems management tools offered by HP, IBM, CA and BMC,” said Bill Karpovich, CEO of Zenoss. “Our 500,000 downloads and the rapid growth of our commercial customer base - many of whom are large, publicly traded companies - exemplify this desire for a new approach.”
DBED’s Enterprise Investment Fund provides financing for small start-up technology companies to cover a portion of the initial costs associated with bringing new products to market. Companies are required to provide matching funds to be eligible for the State funding. Since its inception, the Enterprise Investment Program has provided more than 85 emerging technology companies with initial financing support for the commercialization of new technology-driven products. Eligible companies can receive up to $500,000 in assistance from the Enterprise Investment Fund.
About DBED:
The Maryland Department of Business and Economic Development stimulates private investment and create jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit www.choosemaryland.org.
About Zenoss, Inc.
Zenoss, Inc. brings powerful IT management solutions to organizations of all sizes around the globe. Zenoss Core is a complete network monitoring and systems management platform that discovers networked IT resources, monitors them for performance and availability, and tracks changes through a configuration management database (CMDB). Zenoss offers enterprise-grade support, services, and commercial add-ons through its Enterprise Subscription. Zenoss is winner of Network World's Clear Choice Award, Enterprise Open Source Magazine Readers' Choice Award, and a nominee for Best Technical Design in the SourceForge 2007 Community Choice Awards. Zenoss, Inc. is privately held and headquartered in Annapolis, Md. For more information, visit www.zenoss.com.
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