Redpoint et al. invest in Zendesk

The existing investors comprise Charles River Ventures, Benchmark Capital and Matrix Partners, which last invested in the business in a $19m series-C round in November 2010. Previous rounds included a series-A round in May 2009 and a $9m series-B financing in August that year.

Index Ventures told unquote" it had been following the company for a while before the opportunity to invest arose. The company fit very well into Index's strategy of investing in companies originating in Europe but with strong global growth potential, the GP said.

The pool of investors now holds a combined majority stake in Zendesk. The company's business plan is based on monthly recurring revenues from subscriptions.

Company
Zendesk was founded in Copenhagen in 2007 before moving to the US. The business has developed a cloud-based customer service software used by customers such as Disney, the NHS and John Lewis.

The originally Danish company is currently working on globalising by returning to build a second base in Europe. It has already opened offices in London and Copenhagen. Zendesk's turnover increased by 500% since the company's last funding in 2010.

People
Index partner Giuseppe Zocco and Redpoint general partner Satish Dharmaraj worked on the deal.

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• Topics
• Expansion
• Technology
• UK / Ireland
• Index Ventures
• Goldman Sachs