SOASTA Raises $30 Million For Global Expansion

Investment Banking firms Macquarie Capital and ROTH Capital join existing investors to accelerate SOASTA’s Worldwide Growth

MOUNTAIN VIEW, Calif.--()--SOASTA, the leader in cloud and mobile testing, today announced the closure of $30 million in a growth-stage investment, as the company extends its leadership position in the rapidly evolving and high-growth market of web and mobile application performance. New investors, Macquarie Capital and ROTH Capital, joined existing investors Canaan Partners, Formative Ventures and Pelion Venture Partners. The funds will be used to fortify the company’s position as the leading provider of mobile and web testing and real-user monitoring software to create a quality user experience. The investment will also be used to expand globally with additional marketing, sales, and development resources.

“SOASTA is uniquely positioned at the intersection of software and cloud computing, mobile and big-data analytics. Macquarie has a global presence, unique insights into the Asia-Pacific region and a strong institutional understanding of the technology sector,” said Tej Shah, Senior Vice President at Macquarie Capital. “Our investment will help accelerate SOASTA’s growth plans as it delivers leading-edge cloud and mobile testing solutions to organizations worldwide.”

This round of funding adds further momentum to an already remarkable 2013 for SOASTA. In conjunction with the close of this round, SOASTA was positioned as a "Leader" in Gartner's 2013 Magic Quadrant for Integrated Software Quality Suites. In addition to SOASTA’s industry leading CloudTest® platform, the company created mPulse, a Real User Monitoring (RUM) product, which received top honors as the Best RUM solution at the prestigious 2013 Velocity Conference held in June 2013. In July, SOASTA was also named to the SD Times Top 100 companies and the AlwaysOn Global 250 Top Private Companies.

“SOASTA is a fast-growing company leading the charge in delivering high quality web and mobile applications,” said John Balen, General Partner, Canaan Partners. “The company’s proven track record and customer validation gives us confidence that it will continue to dominate the market and maintain its leadership in cloud and mobile testing.”

“Delivering quality online user experiences are a critical component to sustaining ones Brand. As demands of online users continue to grow, we stay ahead of the market by providing companies with predictive analytics to better understand what real users actually experience,” said SOASTA CEO Tom Lounibos. “This round of funding will accelerate our current expansion around the globe. We will continue to anticipate the needs of this market with innovative new products and services that ensure our customers can confidently deliver quality user experiences every time.”

About SOASTA

SOASTA is the leader in cloud testing. Its web and mobile test automation and monitoring solutions, CloudTest, TouchTest and mPulse, enable developers, QA professionals and IT operations teams to test and monitor users with unprecedented speed, scale, precision and visibility. The innovative product set streamlines test creation, automates provisioning and execution, and analyzes real user behavior in real-time to deliver actionable intelligence, faster. With SOASTA, companies have confidence that their applications will perform as designed, delivering quality user experiences every time. SOASTA’s customers are many of today’s most successful brands including Avaya, American Girl, Bonobos, Backcountry.com, Chegg, Experian, Gilt Groupe, Hallmark, Intuit, Microsoft and Netflix. SOASTA is privately held and headquartered in Mountain View, Calif. For more information about SOASTA, please visit www.soasta.com.

SOASTA is a registered trademark of SOASTA, Inc. All other trademarks are property of their respective owners. Other product or company names mentioned may be trademarks or trade names of their respective companies.

Contacts

Grayling
William McCormick, 415-442-4023
william.mccormick@grayling.com
or
SOASTA, Inc.
Peter Galvin, 415-269-7343
pgalvin@soasta.com

Release Summary

SOASTA today announced the closure of $30 million in funding, as the company extends its leadership position in the rapidly evolving and high-growth market of web and mobile application performance.

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Contacts

Grayling
William McCormick, 415-442-4023
william.mccormick@grayling.com
or
SOASTA, Inc.
Peter Galvin, 415-269-7343
pgalvin@soasta.com