I am incredibly excited to announce the close of our Series C funding, led by New York-based private equity and venture capital firm, Insight Venture Partners. This is a significant milestone in the history of QASymphony.
Just six years ago, our founders – Josh Lieberman and Vu Lam – had an idea to create a better and more modern software platform for QA teams. They launched their first product in 2013 and started getting immediate traction in the market. It turned out that they made a good bet. Software testers were tired of using outdated legacy testing software like HP Quality Center that did not integrate with popular development tools like JIRA. They were looking for a better option.
Vu and Josh knew they were on to something big. They hired me in 2014 to scale the business, raise outside capital, and build a high performing team. I was able to recruit some of the top technology talent in Atlanta for sales, marketing, product, customer success and finance roles. Over the next three years we grew much faster than anyone ever expected.
In January 2015 we raised a $2.5 million Series A led by BIP Capital. A year later we raised a $5 million Series B led by Fulcrum Equity Partners. These two rounds of fundraising gave us the capital necessary to invest in the people and products that would fuel our growth.
Today we have over 450 customers and 10,000 users across 20 different countries
Today we have over 450 customers and 10,000 users across 20 different countries, including Global 2000 enterprises like Cisco, IBM, Boeing, Visa, Amazon and many more. And our customers are really happy – recent survey indicated that 96% of our customers would recommend QASymphony to a colleague.
Our innovative software has received prestigious accolades from Gartner, Red Herring, Entrepreneur Magazine and SD Times. We were also named one of the “Best Places to Work” by the Atlanta Business Chronicle two years in a row, an award I’m especially very proud of as it validates how much we value and invest in our people.
While we were fortunate to have several potential Series C investors it was clear to us that Insight Ventures would be our best long-term partner given their SaaS and sector focus, results orientation, and global network. Their investment will help us to aggressively boost our product leadership and grow our global sales, marketing and customer success teams to capture greater market share. We are very enthusiastic about this new partnership and I am confident that we will accomplish great things together.
Insight Ventures investment will help us to aggressively boost our product leadership and grow our global sales, marketing and customer success teams
In closing, I’d like to thank our founders, Vu Lam and Josh Lieberman for their vision. I’d like to thank our incredible board members who have provided much valuable guidance over the past three years – Jim Douglass (Fulcrum Equity Partners), Mark Buffington (BIP Capital), Ken Walters and Brian Cohen. I’d like to thank our very experienced board of advisors who were always there to provide help and advice – Keith Klain, Andrew Somoza, Doug Curling, Mike Cooper and Jon Hallett.
Finally, I want to thank the QASymphony team in the US, Vietnam, and England for the hard work and effort that made this Series C possible. I also want to give a special shout-out to our CFO Mike Vandiver who had many sleepless nights closing this deal!
The future for QASymphony has never been brighter. We have the strongest product in a large and growing market, an amazing team and now have partnered with one of the elite software investors in the world. I look forward to continuing this journey with all of you.