Viola Private Equity, a $164m growth equity subsidiary of Israel-based alternative investment firm Viola Group, has provided $7m for Zend Technologies, a US-based provider of software for developing and deploying hypertext preprocessor (PHP) applications to produce websites, to extend its sixth round to $16.5m.
Viola Private Equity traditionally aims to invest $25m to $30m in its deals to avoid competing with the groups venture capital subsidiary, Carmel.
In May, Zend raised $9m in its sixth round of funding from a top tier of followers, including corporate venturing funds from Intel Capital and SAP Ventures and venture capital firm Greylock Partners,Azure Capital Partners, Index Ventures and Walden Israel Venture Capital.
Zend has raised more than $50m in aggregate.