SOASTA Inc, the leader in mobile and cloud testing, 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.”