Funding will accelerate product development and global expansion
QASymphony, the leading provider of agile testing solutions to the Global 2000, announced today that it has raised $40M in Series C funding, led by New York-based venture capital and private equity firm Insight Venture Partners.
“Over the last five quarters we significantly exceeded expectations and positioned our company for continued growth,” said Dave Keil, CEO of QASymphony. “Our customers are clearly seeing the impact of our solutions on their business. Ninety percent say that qTest has improved software quality in their company and eighty six percent say it has significantly increased the speed of the testing process. With this Series C, we plan to aggressively invest in expanding our product leadership and in growing our global sales, marketing, and customer success teams to drive greater market share in North America and Europe.”
QASymphony was started in 2011 by the founders of KMS Technology, Vu Lam and Josh Lieberman, two successful technology entrepreneurs with over 20 years of software development experience. The company has experienced rapid growth in the past three years as they have tapped into a large market opportunity and offered a best-in-class solution. Increasingly, enterprises are moving away from expensive and outdated legacy software like HP Quality Center to modern solutions like QASymphony’s qTest platform.
QASymphony’s enterprise customers include Amazon, Salesforce, Cisco, Visa, Barclays and Nordstrom. Customers choose qTest because it is feature-rich, easy-to-use and integrates with popular developer tools like Atlassian’s JIRA, Selenium and Jenkins, enabling teams to develop high quality software at an agile pace. Below are quotes from some of QASymphony’s Global 2000 customers:
“Since adopting qTest, we’re 75% to 100% more effective than we were a year ago. It’s night and day. Like we were walking and now we’re driving a Ferrari.”
– Adam Woollacott, QA Lead at Cisco
“”There have been significant efficiency gains since we made the switch. qTest is just easier to use than Quality Center, and that saves us valuable time.”
– Bryan Layton, Technical Director at Hexagon Safety & Infrastructure
“It has helped us significantly reduce our construction time for the test cases. We’ve saved hundreds of hours documenting test cases.”
– Dennis Young, Assistant Vice President of QA at American Equity
The Series C funding comes on the heels of a transformational year for QASymphony that saw the company add 210 new customers and achieve year-over-year revenue growth of over 180%.
“We are very excited to add QA Symphony to our growing enterprise testing portfolio family,” said Philip Vorobeychik, Vice President at Insight Venture Partners. “We believe that this market will grow rapidly over the next several years, and we are confident that QA Symphony will emerge as one of the key market leaders in the space. We are very excited to partner with Dave and his team on their journey.”
QASymphony is a leading agile software company that provides enterprise test case management and exploratory testing solutions for development and QA teams. QASymphony’s qTest Platform helps companies create better software by improving speed, efficiency, collaboration and analysis during the testing process. The company has over 400 customers across 20 countries including Salesforce, Barclays, Adobe, Samsung, Verizon and Office Depot. QASymphony was recently selected by Gartner as a “Cool Vendor in Application Development” and by Entrepreneur Magazine as one of the “Best Entrepreneurial Companies in America”. The company is headquartered in Atlanta, GA. To learn more, visit www.qasymphony.com or on Twitter at @QASymphony.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in more than 280 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visitwww.insightpartners.com or follow us on Twitter: @insightpartners.