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Soasta, a cloud-based performance testing services company, has secured $12 million in its fourth round of funding. This series D round was led by Jeff Webber through The Entrepreneurs’ Fund III and existing investors Canaan Partners, Formative Ventures, and Pelion Venture Partners.
The five year old company specializes in performance-testing websites through the cloud with its recently-patented CloudTest visual test creation environment. Soasta can test many functions of a website, including specific front-end features, such as account logins and page loads. Soasta then puts together a report for your website that alerts your company to any issues that may exist. Its services range from a free software download, released this year, to complete turnkey testing services. Soasta’s clients include big names like American Girl, Hallmark, Inuit, and Microsoft.
“The explosion of mobile apps has been beyond our expectation,” says Soasta CEO Tom Lounibos (pictured above) in an interview. “We are in the business of helping companies and individuals focus on the performance of their web apps and mobile apps moving forward.”
The new round of funding will be used to grow the company overseas, as Lounibos explains, “We will be using [the funding] for expansion of many things—mainly geographical expansion into China. There is a market there as more and more people are beginning to use mobile technology. China is a big market for us, [as is] India and Brazil.”
Soasta is a privately held company that was founded in 2006 and operates out of Mountain View, CA. This year the company grew to include over 100 employees and over 3,000 clients who use their services. Over the last five years, Soasta has been funded by UV Partners, Canaan Partners, Formative Ventures, Pelion Venture Partners, and The Entrepreneurs’ Fund. This latest round brings its total funding to $32 million.
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