TheCuriousDog

uTest Closes $13 Million In Series C Funding

Press Release   •   Sep 14, 2010 18:40 BST

BOSTON – September 14, 2010 – uTest, the world’s largest software testing marketplace, announced today that it has closed a $13 million C Round of financing, led by Scale Venture Partners on the West Coast. All previous investors participated fully in the round, including B Round investors, Longworth Venture Partners and Egan-Managed Capital. This brings uTest’s total funds raised to more than $20 million across three rounds since the end of 2007. With this investment, Sharon Wienbar, Managing Director with Scale Venture Partners, joins the uTest board.

Sparked by uTest’s expansive top line growth in the past 18 months, the funds will be used to increase investment in:
•uTest’s rapidly expanding community of 30,000 professional testers
•Further developing its testing platform, mobile apps and APIs
•Enhancing the company’s newly launched usability testing and load testing services, as well as expanding into new categories
•Fueling the continued growth in mindshare and market share of uTest’s in-the-wild testing services

"This was a highly competitive situation – which is a testament to our growth and execution, as well as our belief that all applications need to be tested in the wild. We were blown away by ScaleVP’s knowledge of crowdsourcing models, as well as their belief in our vision for the future of software testing," said Doron Reuveni, CEO of uTest. "By enabling software, media and retail companies to get their apps tested in as little as 48 hours – and for a fraction of the cost of traditional outsourced testing – uTest is leaving a lasting footprint on the testing industry.”

A new report by research analyst firm Ovum estimates that the mobile apps market will reach $21.3 billion by 2015. “With iPhone, iPad, Android and BlackBerry apps vying for media attention and consumer dollars, the pressure to get apps tested and launched quickly has never been greater,” said Reuveni. Additionally, Ovum estimates that the worldwide market for software testing services will reach $56 billion by 2013.

“Huge growth in mobile, social and gaming have made app testing an excellent investment opportunity, and one that is consistent with ScaleVP’s software investing strategy,” said Sharon Wienbar. “uTest has created a solution that is uniquely aligned with the testing challenges that companies face. Through our extensive research in the crowdsourcing space and the app testing market, we saw repeatedly how uTest has helped companies launch web and mobile applications their users love.”

uTest is revolutionizing software testing by introducing in-the-wild testing for web, mobile and desktop apps. The company’s on-demand testing services complement in-house QA teams and have struck a chord with hundreds of companies – from global enterprises to startups to universities to non-profits. uTest customers report increased application quality, faster time to market and dramatically reduced testing costs.

Endnote

If you would like to hear more from uTest, register at Mobile App World, hear Mayy Johnston, VP Marketing & Community and Doron Reuveni, CEO discuss increasing app quality vs faster time to market, • Launching a bug-free app, meeting tight deadlines (without comprimising on quality) and meeting customer expectations

About uTest
uTest is the world's largest marketplace for software testing services. The company provides in-the-wild testing services through its community of 30,000 professional testers from more than 165 countries around the world. Thousands of companies - from young startups to global software leaders - have signed up for the uTest marketplace to get their web, desktop and mobile applications tested. More information can be found at www.utest.com or the Software Testing Blog at blog.utest.com.

About Scale Venture Partners
Based in Foster City, California, the ScaleVP team is a long-standing partnership with a consistent, top quartile track record of returns for the past decade. ScaleVP’s market-tested investment strategy, extensive operating networks and go-to-market expertise help identify and build successful portfolio companies in technology and healthcare markets. The ScaleVP team’s collaborative and active approach provides entrepreneurs a competitive advantage for growth and category leadership. Representative portfolio companies include Alimera Sciences, EverydayHealth, ExactTarget, Frontbridge, IPC The Hospitalist Company, mBlox, Monolithic Power Systems, National Healing, NComputing, Omniture, Orexigen, ScanSafe, and Zogenix. For more information, visit www.scalevp.com.

About Mobile App World 2010
Mobile App World 2010 held at the stunning Vinopolis venue in London on October 19th - 20th is a thought provoking conference programme with visionary keynotes, insightful case studies and exciting panel discussions.

This two-day conference will see in-depth workshops led by industry leaders to ensure you gain the most out of your app.

Questions to be raised include:

  • How has the growing prevalence of app stores impacted the mobile value chain?
  • What are the primary models for monetising applications, and what are the advantages/disadvantages of each?
  • What are the key drivers behind an App Store-centric model?
  • What are the prospects for apps as marketing tools and retail mechanisms?
  • How much will mobile apps be worth by 2015, and which categories of mobile application will generate the largest revenues?
  • What are the opportunities for browser-based applications?
  • Is there an answer to multi-platform development?
  • How mobile apps can provide direct routes to market.

Mobile App World 2010 Awards
Mobile App World Awards 2010 is competition to identify the best, most innovative mobile apps.

The contest is open to any app developer, agency or brand with a successful app story.

Entrants can compete for the coveted titles in 12 categories now at www.mobileappsworld.net/awards.

The competition closing date for entries is Friday 17 September 2010.

Each entry will be judged on criteria including originality, innovation, creativity, usability and value to end-users.

The Awards presented and podcast by ladygeek.tv, 19th of October held during Mobile App World at Vinopolis in London.

Belinda Parmar, founder of ladygeek.tv said:

"Lady Geek TV is delighted to be presenting the first app celebration of its kind-Mobile Apps World 2010. “Nearly twice as many women with smartphones as men have never downloaded a single app; hence there is a real opportunity to understand what women want from apps. This award ceremony will begin to explore how to make apps accessible and relevant to everyone."

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