Zensys announced today that it has closed its third round of financing totaling $16 million.
Zensys Announces Completion of New Financing Round
Continuing Research and Development
Upper Saddle River, NJ, July 12, 2005 - Zensys, the inventors of the Z -Wave wireless mesh networking technology for home control, announced today that it has closed its third round of financing totaling $16 million. Led by Bessemer Venture Partners, one of the United States' oldest and most well respected venture capital firms, other participants in the round include Zensys' first -round venture capital partners, Palamon Capital Partners, and Vaekstfonden, the Danish growth fund.
Z -Wave, which is quickly becoming the industry's de -facto standard for home control, enables consumers to monitor and manage their lighting, security systems and other home products easily, conveniently and securely, from anywhere in the world. Z -Wave is a fully -developed, affordable, easy -to -use and interoperable technology that is available in more than 85 wireless home control and automation products on the market today and has the support of more than 125 companies, including industry giants Danfoss, Wayne Dalton, Intermatic, Leviton and UEI Inc.
"We are investing in Zensys based on its proven and widely accepted wireless home control technology, as well as its ability to secure support throughout the industry and continually produce more efficient and more cost -effective Z -Wave chips," said Bob Goodman, managing partner at Bessemer Venture Partners. "Zensys is clearly a company poised for significant continued growth."
"We are bullish on the wireless home control space and, in particular, Zensys' position and progress within the market", said Erik Ferm, partner at Palamon Capital Partners. "As such, we are pleased to extend our relationship with Zensys and participate in their third round of funding".
"This third round of funding is a strong statement about the confidence investors have in our product, vision and team and a validation of the success we have achieved to date," said Per Nathanaelson, Zensys' President and CEO. "This new funding will enable us to further expand our leadership role and provide our partners with the tools to bring reliable and affordable home control solutions to the mass market".
The funding will be used for continued research and development efforts, to drive consumer awareness for Z -Wave interoperability and to solidify Zensys' worldwide position in the home control market by enabling the company to acquire new partners and investigate new applications.
About Zensys - Zensys is a provider of wireless networking technology for control and status reading applications and the developer of Z -Wave, a low -cost, two -way, wireless mesh network communications technology that enables consumers to monitor and manage their lighting, security systems and other home controls easily, conveniently and securely from anywhere in the world. For more information about Zensys and Z -Wave, visit www.zen -sys.com or www.z -wavealliance.com
About Bessemer Venture Partners - Bessemer Venture Partners, with more than a billion dollars under management, is the longest -standing U.S. venture capital operation. For almost a century, Bessemer has funded and helped build innovative, high -growth companies. Many industry pioneers -including Ciena, Gartner Group, Parametric, Sonus, Staples, VeriSign, and Veritas -selected Bessemer as their early -stage venture partner. For more information, visit www.bvp.com, or contact Ann Leamon, at firstname.lastname@example.org or +1 781 -237 -6050.
About Palamon Capital Partners - Palamon Capital Partners, LP, one of Europe's leading mid market private equity firms, was founded in 1999, and is focused on providing equity for European growth services companies. Palamon is one of the few truly pan -European investors originating, executing and managing investments in the UK, Italy, Spain, Denmark, Sweden, France and Germany. The firm targets investments in companies where it can be the lead private equity provider and where the partnership's experienced principals can provide strategic direction and support to help build equity value. For more information visit www.palamon.com or contact: Clare Allison, Citigate Dewe Rogerson, at email@example.com or +44 (20) 7282 2941