QASymphony / Blog / QASymphony Raises $5 Million in Series B Funding – What It Means
QASymphony Raises $5 Million in Series B Funding – What It Means
Today, I am very excited to announce that QASymphony has raised $5 million in Series B funding to accelerate our software business. You can read more about it in TechCrunch. This announcement comes after an amazing 2015 that saw our business grow over 200%.
We welcome lead investor for our Series B, Fulcrum Equity Partners to our organization. Jim Douglass, a Partner at Fulcrum will join our Board of Directors. We’re thrilled to work with Jim as he has excellent operational experience, having been CEO of several companies. You can learn more about Jim here. Additionally, BIP Capital, one of our existing investors, also increased their ownership in QASymphony by investing in our Series B.
I see this investment as a validation of the strength of our business and the opportunity in the market. 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.
In the past year, we’ve seen large global enterprises like Nordstrom, Verizon, Dell, Office Depot, FICO and Visa all adopt QASymphony Test Management software. They choose QASymphony because our solutions are feature-rich, easy-to-use and integrated with the most popular tools used by leading agile development teams.
Once companies start using QASymphony, they quickly see the benefits. In fact, our churn in 2015 was below 1%. Here are few quotes from some of our favorite customers:
“We evaluated a lot of other testing platforms out there and found qTest to be the best and by far the most intuitive… we’ve improved efficiency by at least 50% since implementing qTest.” -Jesse Reynosa, Senior Quality Engineer, Zappos
“Since implementing QASymphony, we’ve improved our efficiency by 50%. Overall, we’re working better and faster than ever before.” -Alex Bantz, Director of Quality Engineering at at Salesforce Marketing Cloud
“It’s a no-brainer. Testers can quickly and easily replicate the defect scenario 50 to 75 percent faster than it would be done manually.” -Neale Hightower, Senior Manager of Quality Assurance, Silverpop, an IBM company
2015 was an amazing year for QASymphony. Here are just a few highlights:
Added 120 customers
Selected as one of five “Cool Vendors in Application Development” by Gartner
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
Appointed several key executives including Jeff Perkins to CMO and Bo Rodric to VP of Development
As we look forward to 2016, I’m very excited and optimistic about the path ahead. We have big plans to invest in our product and our people so we can continue to win business and exceed customer expectations.
I personally want to thank the entire QASymphony team for all the hard work and effort. I can’t wait to see what 2016 will bring.