SOASTA has added $12 million in fresh capital from existing shareholders The Entrepreneurs’ Fund, Canaan Partners, Formative Ventures and Pelion Venture Partners. The latest round brings SOASTA’s total raised to $32 million. The Entrepreneurs’ Fund led the round, “significantly” increasing its stake, says Chief Executive Tom Lounibos. “It was pro rata or a slight uptick for everyone else,” he says.
SOASTA makes cloud-based testing technology for web and mobile applications. The company first launched its software in 2008, and plans to use the latest round for expansion. “The players in the app testing market are big players: IBM, HP…these are all billion dollar companies,” says Lounibos. “To compete with them, you have to size up.” Among other efforts, SOASTA aims to move into India and China via partnerships with other companies.
SOASTA last raised money in 2009, and says that it still has a portion of that $10 million round on-hand. SOASTA’s customers include Gilt Groupe, Hallmark and Netflix. The company is based in Mountain View, Calif.
SOASTA®, Inc., the leader in cloud-based performance testing, today announced it has secured $12 million in funding. The round was led by The Entrepreneurs’ Fund, with participation from prior investors Canaan Partners, Formative Ventures, and Pelion Venture Partners. The proceeds will accelerate the company’s international expansion and support its technology leadership position in web and mobile testing through increased investments in the burgeoning mobile testing market.
SOASTA’s CloudTest Platform is the world’s largest platform for testing the performance of web and mobile applications at scale. Since introducing the first cloud-based performance testing platform in 2008, the company has continued to innovate and transform the performance testing market by delivering unprecedented testing speed, scale and affordability through its products and services. The company recently expanded its award-winning CloudTest Platform with functional test automation to deliver the first platform that both software developers and non-programmers can use to build and execute complex functional tests.
“For companies today with a web or mobile presence, the stakes are high and the applications are far more difficult to test,” said Jeff Webber, Managing Director of The Entrepreneurs’ Fund. “As the landscape for testing solutions necessarily evolves to support shorter release cycles, new technologies, more complex architectures and unpredictable consumer demand from a wide range of devices, SOASTA is well positioned to be the category winner. By consistently innovating in ways that leverage the cloud and the new service economy, SOASTA is gaining share in a market dominated by traditional testing giants.”
Today’s announcement caps a period of major milestones and momentum for SOASTA and the software testing market:
· In 2011, SOASTA’s customer base topped 3,000, including six of the top 10 retailers and well-known leaders in the financial services, media, telecommunications, consumer packaged goods, and technology industries.
· SOASTA’s Global Test Cloud expanded dramatically in 2011 to support generating load from across the world, including U.S., Canada, China, UK, Germany, Amsterdam, Ireland, Dubai, Switzerland, Australia, Singapore, Japan and Hong Kong
· SOASTA delivered its first free edition in 2011, CloudTest Lite, which offers functional testing and performance testing for up to 100 virtual users at no cost.
· The company was awarded a patent on CloudTest’s innovative visual test creation environment, which delivers a familiar GarageBand-style process for building complex performance and functional tests in a fraction of the time.
SOASTA was named one of the “Top 50 Venture-Backed Companies” by The Wall Street Journal, one of the OnDemand top 100 emerging Internet companies by AlwaysOn, and one of the “10 Emerging Cloud Vendors You Need to Know” by CRN.
“SOASTA created the Cloud Testing category in 2008, introduced the first global test cloud in 2010 and we continue to lead the field in terms of innovation and customers,” said Tom Lounibos, SOASTA CEO. “With major business increasingly conducted across the web and mobile Internet, the performance and reliability of consumer-facing websites and mobile applications matters today more than ever to companies. With this new round of funding we will continue to provide industry leading testing solutions, ensuring that our customers can adequately test their applications and deliver the highest possible quality and performance to their consumers.”
SOASTA is the leader in cloud testing. The company’s CloudTest products and services leverage the power of cloud computing to quickly and affordably test consumer-facing web and mobile applications at scale, providing customers with the confidence that their business-critical web applications will be reliable and scalable, even under extreme loads. SOASTA’s customers include many of today’s most successful brands, including American Girl, Chegg, Gilt Groupe, Hallmark, Intuit, Microsoft and Netflix. SOASTA is privately held and headquartered in Mountain View, California. For more information about SOASTA, please visit www.soasta.com.