uTest Closes $43 Million Series E Round Led by Goldman Sachs
Ahead of Rebrand to 'Applause,' Funding Amplifies Company's Plans to
Bring 360 Degrees App Quality to Startups and Enterprises Around the
BOSTON, MA -- (Marketwired) -- 01/14/14 -- uTest, the in-the-wild
app testing leader, today 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, load and
localization testing solutions.
-- Bring 360 degrees 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 degrees 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
"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 degrees 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.
"Today, customer-facing applications have become critically important
for most businesses. And app quality is a key differentiator between
winners and losers in this era of the always-connected, on-the-go,
highly vocal user," added Campbell. "When you consider the complexity
of creating truly great applications, uTest is uniquely positioned to
help its customers win, and to build a large, lasting company in the
Today's news comes as companies are recognizing the full importance
of App Quality Management. And as the apps economy grows ever-faster,
these digital experiences have become the front door to brands, to
the companies behind them, and to their top-line results. At the same
time, the rise in social media and app store reviews has given users
a larger voice than ever before. These user signals now play a
significant role in defining app quality and are increasingly
utilized by companies. Research firm IDC's Peter Marston stated the
value of these signals in 2013:
"Use of outside signals in application life-cycle development is an
effective, increasingly holistic way to gather a fuller spectrum of
data that help application vendors, in turn, be more strategic in how
they build or enhance their applications, as well as help foster
stronger user adoption upon an application's release."
Headquartered near Boston, uTest has seen consistent success and
sharp growth since launching in August of 2008. Company milestones
-- Establishing a presence in Silicon Valley, Seattle, New York, Los
Angeles and Dallas -- with resellers serving dozens of international
-- Testing more than 30,000 new builds for 2,000 companies of all sizes
-- including Google, Microsoft, Amazon, USA Today, Rolex, Box and
-- Growing its global community of professional testers to more than
-- The acquisition of mobile SDK, Apphance in 2012
-- The launch of Applause Analytics in 2013
-- Numerous awards, including recent wins from the American Business
Awards, Gartner, Forbes and Inc.
About uTest, Inc.
uTest provides in-the-wild testing solutions that
span the entire software development lifecycle -- including
functional, security, load, localization and usability testing. The
company's community of 100,000+ professional testers from 200
countries and territories puts web, mobile and desktop applications
through their paces by testing on real devices under real-world
conditions. Thousands of companies rely on uTest as a critical
component of their testing processes for fast, reliable and effective
testing results. The company recently announced that it will be
expanding its vision and changing its name to Applause in 2014. Visit
uTest at www.utest.com and keep tabs on @uTest via Twitter.
For more information, contact
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