Replay Solutions Inc., a Redwood City, Calif.-based provider of testing automation solutions for software development, has raised $2 million in new Series B funding from UV Partners. It had held an $11 million first close in August from Sigma Partners, Hummer Winblad Venture Partners and Partech International.
Replay Solutions, Inc., a provider of innovative solutions for maximizing software quality, announced UV Partners invested $2 million dollars in the company’s Series B funding round, bringing the total to $13 million. UV Partners joins Hummer Winblad, Partech International and Sigma Partners, who collectively invested $11 million dollars in August.
Replay Solutions’ flagship record and replay technology maximizes quality in enterprise software by eliminating the time it takes to locate software application errors. Replay technology records the execution of applications and, when errors occur, will replay recordings with the ability to fast-forward to the moment of error and reveal corresponding flaws in the code. Replay has saved customers up to 80 percent of the time associated with error resolution, resulting in significant cost savings, faster time to market and higher ROI.
“Several factors attracted us to Replay Solutions. Their core technology conquers a significant obstacle in application issue resolution and allows IT expenditures associated with correcting defects in software to be reduced significantly. Issue resolution often consumes a large portion of software development budgets, so Replay’s technology presents a large market opportunity,” stated Blake Modersitzki, managing director at UV Partners. “Replay also has an exceedingly talented management team who knows how to deliver significant value to companies depending on strong software, free of risky vulnerabilities. The value in Replay’s technology is not only the time and resources applications teams save, but also the assurance that they will be able to recreate and resolve every single issue. UV Partners saw a strategic opportunity to help Replay deliver that value to the enterprise application market sooner.”
“UV Partners’ investment in us will accelerate our support for the breadth of enterprise environments our customers demand. In the midst of the current market conditions, companies are increasingly looking for cost savings and are turning to Replay for solutions,” said Jonathan Lindo, CEO and co-founder of Replay Solutions. “We see a number of opportunities in the current market to accelerate the expansion of our product offerings to bring new and innovative products to market, all based on our core, patent-pending technology. These products will address key pain points currently being experienced by companies that rely on software for their mission-critical business functions. Above all, Replay is committed to providing solutions that help our customers optimize costs, reduce overhead, and increase workflow efficiency.”
Since its start in 2004, Replay Solutions has filed five patents for its technology and won enterprise customers from financial services, commercial software, consumer services, entertainment companies, and other major verticals.
About Replay Solutions
Replay Solutions optimizes issue resolution across the application lifecycle. Its flagship ReplayDIRECTOR(TM) solution makes application teams more productive by taking the guesswork out of finding and fixing bugs in development, test, and production environments. Headquartered in Redwood City, Calif., the company was founded in 2004 and is backed by Hummer Winblad, Partech Ventures, Sigma Partners and UV Partners. For more information, visit http://www.replaysolutions.com.
About UV Partners
UV Partners, Inc., established in 1986 in Salt Lake City, Utah, is a leading early stage venture capital firm. UV Partners helps entrepreneurs develop early-stage concepts into tomorrow’s industry-leading Information Technology and Life Science companies. The partners possess diverse but highly complementary industry and investment backgrounds. They share a hands-on approach and work collaboratively on each portfolio company over the life of an investment thereby providing each company with a broad range of resources, experience, and knowledge. For more information, please visit our website http://www.uvpartners.com.