September 18, 2018
mabl Raises $20M to Dominate the Test Automation Industry
Software testing is an area of technology that has been relatively untouched for years. mabl Co-Founders, Izzy Azeri and Dan Belcher, saw an opportunity to disrupt this industry by using machine learning.
This past February, the company announced their Series A round of funding and just seven months later, mabl is announcing a $20M Series B led by GV.
I caught up with Azeri to learn more about the company's progress to date, plus the launch of "mabl Enterprise."
You also can listen to the background story of mabl by checking out our podcast interview with Azeri and Belcher earlier this year.
Keith Cline: We last caught up with you and Dan last February for our podcast. Any updates to the market or business problem you are solving?
Izzy Azeri: Well, since February of this year, we've had a lot of customers try mabl and the biggest surprise we've seen is that large Enterprise customers are the ones who are feeling the most pain in with software testing and are increasingly experiencing the most benefit from the scalability, security, and intelligence of the mabl product. This is one big reason that in addition to announcing our $20M Series B funding today, we're also announcing our new product, mabl Enterprise.
KC: What's the size of your team now and how are things going in terms of customer growth?
IA: We're now about 30 employees, the majority of which are in Product, but given our momentum on the customer front, we're now hiring aggressively on our Go-To-Market team as well. We have customers across the US, Canada, Australia, and Europe including in financial services, industrial, and e-commerce segments to name a few.
KC: Congrats on your Series B round of funding! You closed your $10M Series A back in February, what led you down the path of raising your Series B so quickly?
IA: Since we announced our Series A in February and launched our beta, we have seen significant customer interest in our product. This, combined with increasing demand from the Enterprise segment drove us to raise a Series B so we can invest aggressively in the company to meet demand. In addition, we were lucky enough to have an opportunity to work with Karim Faris from GV who led our B round, and who we've known for the past few years from our time at Google. He has deep experience in Enterprise and DevOps.
KC: What's your plan for hiring over the next twelve months and for what type of roles?
IA: Given we've now just raised our B and introduced mabl Enterprise, we're hiring across all roles in the business including Engineering, Product Management, Customer Success and Sales. We're still primarily hiring in Boston so would love to hear from anyone interested in mabl from the Boston community.
KC: What's the future outlook for mabl?
IA: Well, when we started mabl in early 2017, the SaaS based Test Automation market was still in its infancy. Fast forward almost 2 years and now analysts like Gartner and Forrester are frequently writing about intelligent test automation and how most Enterprise companies are adopting solutions in this space. We feel really lucky that we were able to build the team we have to get to this point and look forward to working with customers across the world as market adoption continues.