December 12, 2011, 12:28 PM — Cloud-based performance testing vendor SOASTA on Monday announced a $12 million round of financing from several venture funds.
SOASTA said in a press release it would use the proceeds to ramp up international expansion and further develop the testing of mobile applications.
The round was led by The Entrepreneurs' Fund and included participation from several previous SOASTA investors, including Canaan Partners, Formative Ventures, and Pelion Venture Partners.
Founded in February 2006 by current executive chairman and software industry veteran Ken Gardner, SOASTA began as a provider of visual software tools for the testing of SOA-based systems. In 2008 the company introduced a cloud-based performance testing platform.
“For companies today with a web or mobile presence, the stakes are high and the applications are far more difficult to test,” Jeff Webber, managing director of The Entrepreneurs’ Fund, said in a statement announcing the venture round. “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."
SOASTA, based in Mountain View, Calif., has more than 3,000 customers in more than a dozen countries, including Cisco Systems, CA Technologies, Symantec, SAP, Lenovo, Netflix, Newsweek and Warner Music Group (those are the customers, not the countries).
SOASTA's latest round of funding was its first since December 2009, when it closed a $10 million round from several investors.