QASymphony, a company transforming the way global enterprises create quality software, has raised $5 million in Series B funding to accelerate its software testing tools. Fulcrum Equity Partners, an Atlanta-based growth equity firm, led the investment round with BIP Capital. QASymphony has now raised $7.5 million in venture financing since January 2015.
Headquartered in Atlanta, QASymphony helps companies create better software through enterprise-level agile testing tools. It has seen 200% year-over-year growth, adding 120 customers to its roster, including Adobe, Dell, FICO, Nordstrom, Office Depot, Verizon and Visa.
“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,” said David Keil, CEO at QASymphony. “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.”
Boosting its yearly revenue from $400,000 to $3 million, QASymphony expects to hit $10 million in the near future. The company was founded in 2011 by Vu Lam and Josh Lieberman to help software companies make the switch to an agile development process, in which teams simultaneously tackle various parts of a project instead of through a trickle-down, hierarchical approach known as “waterfall.”
“I see this investment as a validation of the strength of our business and the opportunity in the market,” said Keil in a company blog post. “As more and more traditional companies are becoming ‘software-centric’, there is growing demand for better tools that can help DevOps teams deliver high quality software at a rapid pace.”
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