Tuesday Jan 14, 2014 by Dennis Keohane - Senior Writer, VentureFizz
This morning, uTest, which will rebrand as Applause early this year, announced that it had secured a $43 million Series E round of funding. The most recent round was led by Goldman Sachs, and was joined by prior investors QuestMark Partners, Scale Venture Partners, Longworth Venture Partners, Mass Ventures, Egan-Managed Capital, and Mesco Ltd.
uTest's most recent round of funding was a $17M Series D round in December 2011. The company's total funding to date is more than $80M.
As part of the Series E announcement, David Campbell, Goldman Sachs’ Managing Director of the Merchant Banking Division will join the uTest Board of Directors.
uTest/Applause made some major moves at the end of last year. It relocated its office from Southborough to a stand alone office building near the Bose campus in Framingham. Additionally, mid-way through the fall, the company announced a major rebranding, renaming the company Applause and undertaking an expansion of its "in-the-wild app testing" products and offerings.
As the Applause expansion begins, uTest will use the latest funding to complete its metamorphosis in the next few months to: expand in-the-wild testing services by investing heavily in its real-world software testing services; bring 360° app quality to brands around the world with an expanded suite of tools and analytics related to holistic app quality; grow distribution channels (including international expansion); and broaden uTest (which will remain under the larger Applause brand as "an open community that caters to testers and advances the profession of software testing").
As uTest CEO Doron Reuveni said of the news, “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° app quality.”
“We’re positioned for a massive market opportunity, and to extend our lead as the one-stop solution for modern app quality.”
New board member David Campbell of Goldman Sachs commented, “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.”
“When you consider the complexity of creating truly great applications," he added, "uTest is uniquely positioned to help its customers win, and to build a large, lasting company in the process.”