SOASTA, a Mountain View, CA-based provider of cloud testing, announced that it has completed a $10m Series C funding.
The round was led by UV Partners, and included participation from existing investors Canaan Partners, Formative Ventures and The Entrepreneurs’ Fund.
The funds will be used to accelerate the company’s global expansion. The growth plan includes the opening of offices in Europe, broadening of the reseller channel and increasing its technology roadmap with product enhancements to address the growing demand for its cloud-based testing service.
Commenting on the investment, John Balen, general partner at Canaan Partners, said: “This recent funding will enable SOASTA to ramp sales while simultaneously extending its technology leadership position in the cloud testing market.
“I am very pleased with SOASTA’s ability to attract new and previous investors to this round. The interest we generated from the investment community is a direct reflection of the growing validation of cloud testing based on our technology leadership”.
In conncetion with the round, SOASTA added Blake Modersitzki, managing director, UV Partners, to its board of directors.
FinSMEs
01/12/2009