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May 11, 2016

Frontier Capital prides itself in finding hidden opportunities to invest in oft-overlooked places or categories. Nowhere is this more evident than our most recent partnership with Zephyr, a thriving software-related company right in the heart of Silicon Valley. The reason Zephyr falls in the “overlooked” category is that it doesn’t make software; it develops methods for software makers to test their products, allowing faster and more cost-effective deployment. The company has grown by leaps and bounds, more than doubling its customer base in the past 12 months to over 8,500 customers in 100-plus countries, including such recognizable names as Adobe, Oracle and Citibank. Like most companies in our portfolio, Zephyr reached a threshold where it needed additional capital – and the benefit of experienced guidance – to realize its next stage of desired growth. The company will use its $31 million investment from Frontier to support several initiatives vital to its continued growth, from enhancing its product portfolio to scaling sales and marketing capabilities. Investments in companies like Zephyr demonstrate our recognition that the software industry has tremendous depth, with an entire subculture of vendors and service providers ripe for growth. Just like the automotive, construction and appliance industries drove the demand for steel in the 1950s, the explosion in software development is creating rich opportunities for those who support them. Zephyr is incredibly well-positioned to capitalize on such opportunities, already claiming the No. 1 spot among test management solutions in the popular Atlassian Marketplace for software developers. We look forward to partnering with Zephyr on its journey to achieve new heights. For the full announcement on this investment, visit http://www.prnewswire.com/news-releases/frontier-capital-invests-31-million-in-zephyr-leading-provider-of-real-time-test-management-software-300266579.html
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