Sauce Labs, Inc., provider of the world’s largest cloud-based platform for automated testing of web and mobile applications, today closed $70 million in growth funding from Centerview Capital Technology, IVP and Adams Street Partners. In conjunction with the funding, Buno Pati, partner at Centerview Capital Technology, and Sandy Miller, general partner at IVP will join the Sauce Labs Board of Directors.
The Sauce Labs platform provides immediate access to a cloud-based automated testing infrastructure, enabling software development teams to test early and often, a requirement for Continuous Delivery and agile best practices. Sauce Labs continues to see significant growth as customers run more than one million tests per day on its platform, now totaling more than 800 million tests run to date. This massive scale and 24/7 availability — combined with the ability to run large volumes of tests in parallel — enables enterprises to dramatically increase the speed of their software release cycles.
Accordingly, the company’s revenue has grown 951 percent from 2012 to 2015. For three years in a row, Sauce Labs has been named to the San Francisco Business Times’ Top 100 Fastest-Growing Private Companies in the Bay Area list, ranking as #18 in 2016. It also ranked in the top 10 percent of all companies featured this year on the Inc. 5000, a prestigious list of the nation’s fastest-growing companies.
The company plans to use the new funding to continue to innovate its platform — extending its mobile offering as well as increasing capacity and performance for the company’s growing global customer base. In addition, Sauce Labs will leverage this funding to fuel company growth by adding sales, marketing and customer success resources.
“Sauce Labs’ new funding and three new investors speak volumes about what the company has accomplished and the incredible market opportunity that lies in front of us,” said Charles Ramsey, CEO of Sauce Labs. “With Sauce Labs, our customers test up to ten times faster and no longer have to focus valuable resources on managing test infrastructure. In the new economy — where every business is a software business — this provides our customers with a significant advantage.”
Supporting Quotes “Sauce Labs is the clear leader in automated testing — a critical enabler of rapid innovation in the transition to agile software development,” said Buno Pati, partner at Centerview Capital Technology. “We have been very impressed by the strength of the team, the product and the customer base. We are thrilled to join this talented company to help capture the remarkable opportunity ahead.”
“IVP is very excited to be investing in Sauce Labs,” said Sandy Miller, general partner at IVP. “When speaking with Sauce Labs customers, I was impressed by their glowing remarks about the company. It is rare to hear that level of enthusiasm from customers.”