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Company News : uTest Closes $43 Million Series E Round Led by Goldman Sachs
on 2014/1/14 9:58:53 (532 reads)
Company News

uTest has announced it has closed a $43 Million Series E round of funding, led by Goldman Sachs. The funding comes ahead of the company's previously announced plans to expand its offering and change its name to Applause, and brings its funding-to-date to more than $80 Million.

As the company rolls out its expanded Applause vision in the coming months, it will use this funding to:
*  Expand in-the-wild testing services. The company will invest heavily in its real-world software testing services, including significant commitments to further advancing its functional, usability, security, load and localization testing solutions.
*  Bring 360° app quality to brands around the world, ushering in a new era of App Quality Management. Applause will include a suite of tools and analytics related to holistic app quality. This combined solution will enable a company's stakeholders -- including developers, QA, product, marketers and CEOs -- to better understand users' wants and experiences, and to use that information to create apps that win.
*  Grow distribution channels. The company is deep in talks with strategic partners to bring 360° app quality into the offerings of the application lifecycle management (ALM) leaders. International expansion is planned through a recently announced reseller program -- particularly in the EU and Asia-Pacific markets.
*  Broaden uTest. In addition to the larger Applause offering, the company will leverage the uTest brand as an open community that caters to testers and advances the profession of software testing. The uTest offering will expand beyond paid projects to include training, certifications, test tool reviews, career advice, job boards and events.

"In-the-wild testing has become a critical part of launching great digital experiences -- from apps for web, mobile, wearables and beyond. Funding on this scale, and from a leader like Goldman Sachs, will help us broaden these services, and incorporate tools that enable companies to achieve 360° app quality," said uTest CEO, Doron Reuveni. "We're positioned for a massive market opportunity, and to extend our lead as the one-stop solution for modern app quality."

The round had full participation from all of uTest's previous investors, including QuestMark Partners, Scale Venture Partners, Longworth Venture Partners, Mass Ventures, Egan-Managed Capital and Mesco Ltd. The company's previous round of funding was a $17 Million Series D round in December 2011. As part of the Series E investment, David Campbell, Goldman Sachs' Managing Director, Merchant Banking Division will join the uTest Board of Directors.

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