uTest raises $43M to help expansion
Framingham-based uTest has raised $43 million in capital to inject more investment in its software testing services and to facilitate expansion.
Goldman Sachs led the Series E investment, uTest said Tuesday, and was joined by all of uTest’s previous investors, including QuestMark Partner, Scale Venture Partner, Longworth Venture Partners, Mass Ventures, Egan-Managed Capital and Mesco Ltd. Goldman Sachs managing director David Campbell will also join uTest’s board.
uTest, which is planning to change its name to Applause later this year, has now raised more than $80 million since its founding in 2008. The company raised $17 million in its most recent funding round in late 2011.
“We’re positioned for a massive market opportunity, and to extend our lead as the one-stop solution for modern app quality,” CEO Doron Reuveni said in a statement.
The funding will be used to expand uTest’s Web, mobile and desktop application testing service, as well as its quality assurance software for the Apple and Android app stores. The software, called Applause, launched in 2012 and makes it easier for companies to listen to feedback from their app users.
uTest also plans to use the capital to grow its distribution in the European Union and in the Asia-Pacific markets.
uTest has more than 2,000 clients, including technology giants such as Google, Amazon and Microsoft. The company also has more than 100,000 software testing professionals around the world.
WBJ Web Partners
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