RealTime IT News

Zkey.com Closes On $10 Million in Second Round of Funding

Zkey.com (formerly Zcentral.com), a division of SDN Online Inc., closed on $10 million in second-round financing from Bear Ventures, Ridgely Capital, Zone Ventures and Oracle Corp.

Zkey.com said its vision is to make the Zkey a universal, ubiquitous key "for enabling simplified and accurate information exchange between businesses and people, both on and off the Web."

This includes the migration of the desktop to the Web, unified messaging, wireless Web delivery to cell phones and pagers, Web-based applications and smart and dumb card based solutions.

Bear Ventures, a private equity investment fund focusing on growth and Internet related investments, led the round with a $5 million investment.

"In our deals we look for and provide three things: Leadership, strategy and capital," said Philip Erdoes, president of Bear Ventures. "Zkey had the first two down cold; we were glad to provide capital. The Zkey team has done a great job of taking this company from a backyard idea to a paradigm shifting entity."

"The Zkey is one of those very simple ideas that turns out to be revolutionary, as the Hotmail model was to viral marketing," said Frank Creer, managing partner with Zone Ventures. "We are very excited about the future of this company."