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SOASTA To Go Worldwide – Raises $30 Million More, For Global Expansion

Investment Banking firms Macquarie Capital and ROTH Capital join existing investors to accelerate SOASTA’s worldwide growth

"This round of funding will accelerate our current expansion around the globe," said SOASTA CEO Tom Lounibos this morning, as he announced the closure of $30 million in a so-called "growth-stage investment" to help SOASTA extend its leadership position in the rapidly evolving and high-growth market of web and mobile application performance.

"We will continue to anticipate the needs of this market with innovative new products and services that ensure our customers can confidently deliver quality user experiences every time," Lounibos continued.

Tom Lounibos being interviewed by Jeremy Geelan at 1st Cloud Expo in 2009

Two new investors, Macquarie Capital and ROTH Capital, have joined existing SOASTA investors Canaan Partners, Formative Ventures and Pelion Venture Partners. The funds will be used to fortify the company’s position as the leading provider of mobile and web testing and real-user monitoring software to create a quality user experience. And, as Lounibos said, investments will also be used to expand globally with additional marketing, sales and development resources.

“SOASTA is uniquely positioned at the intersection of software and cloud computing, mobile and big-data analytics," said Tej Shah, Senior Vice President at Macquarie Capital. "Macquarie has a global presence, unique insights into the Asia-Pacific region and a strong institutional understanding of the technology sector. Our investment will help accelerate SOASTA’s growth plans as it delivers leading-edge cloud and mobile testing solutions to organizations worldwide,” he added.

John Balen, General Partner, Canaan Partners, commented:

“SOASTA is a fast-growing company leading the charge in delivering high quality web and mobile applications. The company’s proven track record and customer validation gives us confidence that it will continue to dominate the market and maintain its leadership in cloud and mobile testing.”

“Delivering quality online user experiences are a critical component to sustaining one's Brand," said Tom Lounibos. "As demands of online users continue to grow, we stay ahead of the market by providing companies with predictive analytics to better understand what real users actually experience.”

SOASTA’s customers include many of today’s most successful brands such as Avaya, American Girl, Bonobos, Backcountry.com, Chegg, Experian, Gilt Groupe, Hallmark, Intuit, Microsoft and Netflix.

This round of funding adds more momentum to an already remarkable 2013 for SOASTA, Lounibos explained. He named three examples:

  • In conjunction with the close of this round, SOASTA was positioned as a "Leader" in Gartner's 2013 Magic Quadrant for Integrated Software Quality Suites.
  • In addition to SOASTA’s industry leading CloudTest platform, the company created mPulse, a Real User Monitoring (RUM) product, which received top honors as the Best RUM solution at the prestigious 2013 Velocity Conference held in June 2013.
  • In July, SOASTA was also named to the SD Times Top 100 companies and the AlwaysOn Global 250 Top Private Companies.

Cloud Computing Journal will of course be following the fortunes of SOASTA for the rest of 2003, into 2004 and beyond.

More Stories By Jeremy Geelan

Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

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