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QASymphony said Wednesday that it raised $5 million in Series B funding led by Fulcrum Equity Partners. BIP Capital, an existing investor, also took part in the round. As part of the Series B, QAS has an option to take on an additional $3 million in capital if needed. Atlanta-based QASymphony provides enterprise-level agile testing tools.
PRESS RELEASE
ATLANTA, GA�(Marketwired � Jan 20, 2016) � QASymphony, a company focused on transforming the way global enterprises create quality software, has raised $5 million in Series B funding to accelerate its software testing business. Lead investor Fulcrum Equity Partners was joined in the new round by existing QASymphony investor, BIP Capital. QASymphony has now raised $7.5 million in venture financing since January 2015. As part of the Series B, QAS has an option to take on an additional $3 million in capital if needed.
The funding caps a very successful year for QASymphony, whose software is used by agile development teams to increase efficiency in the testing process and accelerate product release cycles. Some highlights from 2015 include:
Achieved 200% year-over-year growth
Selected as a "Best Place to Work" by the Atlanta Business Chronicle
Added 120 customers including Adobe, Dell, FICO, Nordstrom, Office Depot, Verizon and Visa
Delivered major product releases for the company's flagship solutions, qTest and qTest eXplorer, and launched new products including qTest Insights and the qTest Scenario add-on for JIRA sold in the Atlassian Marketplace
Launched US channel program and achieved early traction with the leading Atlassian resellers
Increased headcount 50% to 70 employees
Selected as one of five "Cool Vendors in Application Development" by Gartner
Appointed several key executives including Jeff Perkins to CMO and Bo Rodric to VP of Development
"Established companies across industries have glimpsed the power of modern software and methodologies, and are racing to adopt them," says David Keil, CEO at QASymphony. "But without the ability to quickly develop high quality software, leading enterprises will struggle to meet their growth goals. Our customers � many being leaders in technology, e-commerce, financial services and other industries � are telling us that partnering with QASymphony has helped them gain a competitive advantage in the market. This Series B will allow us to increase our investment in sales, marketing, customer success and software development so we can continue to exceed customers' expectations." |
