One of Boston’s fastest-growing tech startups has more fuel for growth: ZeroTurnaround has raised $3 million in venture debt funding and may add 40 new employees in Boston by the end of the year, company president Alex Laats told me.
The new debt funding comes from Western Technology Investment, previously a backer of Google and Facebook.
The money adds to the $3 million in equity funding collected by ZeroTurnaround in January. That round was from Bain Capital Ventures of Boston.
The company offers software development tools for developers in the programming language Java. Its core product, JRebel, lets developers save time by not having to restart their application server after code changes are made.
Founded in Estonia in 2007, ZeroTurnaround opened its Boston sales office in late 2011. The office has grown briskly since then and now stands at 60 employees.
With help from the new funding, the Boston office may reach 100 staff members by year’s end, Laats said. The new money will also go toward marketing efforts.
ZeroTurnaround hadn’t raised major outside funding prior to the $6 million it’s raised in recent months.
Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
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