California based Zenprise raises $9 Million
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Bangalore: Zenprise, a provider of smartphone management software, has secured $9 million in new funding. The round was led by Menlo Park based Rembrandt Venture Partners with the participation from existing investors, including Ignition Partners, Bay Partners, Mayfield and Shasta Ventures, reports Anthony Ha from Venturebeat.com. This funding is part of a fourth round of funding raised a year ago. To date, the California based company has raised a total of $40 million. Zenprise, led by CEO Jayaram Bhat, said it will use the money to expand sales and marketing efforts as well as to fuel research and development activities. The company, which offers tools for IT departments to manage their team's smartphones, said that they have more than 300 customers, including Boeing, Comcast and Vodafone. Zenprise claimed that it has seen a 175 percent increase in its revenue during the first quarter of 2010. The use of consumer-friendly smartphones in large companies has surged in the past year or so, especially with the addition of business and security features to the iPhone, said Jayaram Bhat. Venture capitalists are looking to jump on this trend too and that is why they approached Zenprise, even though the company was not planning to raise more money at the time, said Bhat.

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