Tracxn - Software Testing Tools Startup Landscape

MARCH 2019
SOFTWARE TESTING TOOLS

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Software Testing Tools - Mar 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on March 5, 2019.
Software Testing Tools Feed Summary
4
Software Testing Tools > Feed Summary
Tools that help in software testing
• Inclusions: All companies which provide tools for
performance testing, API testing, security testing,
automation testing and management and tracking of
defects and tests. It also includes companies which
provide platforms for usability testing and crowdsourced
testing, device labs.
• Exclusions: Companies that provide software testing
services.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$2.3B
Funding
12
Mega
Companies
193896
FundedCovered on
Tracxn
1
Unicorns
17
Soonicorns
16
Minicorns
4
IPO’d Cos
80
Late Stage Cos
24
66
Acquisitions
102
DeadPooled
3
Acquihired
Series A+ Cos
Parasoft
(1987, Monrovia)
WhiteHat Security
(2001, Santa Clara, $50.8M)
SmartBear
(2003, Beverly)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Software Testing Tools
5
$50M - Series A
BrowserStack (2011, Mumbai, $50M)
$22M - Series B
Snyk (2015, Ramat Gan, $33M)
$40M - Series C
QASymphony (2011, Atlanta, $47.5M)
$22M - Series A
DiffBlue (2016, Oxford, $24.4M)
$31M - Series C
Applitools (2013, Tel Aviv, $46M)
$21.3M - Series C
Synack (2013, Menlo Park, $55.3M)
$26M - Series C
Bugcrowd (2012, San Francisco, $50M)
$20M - Series B
mabl (2016, Boston, $30M)
$25M - Series B
Rainforest QA (2012, San Francisco, $42.2M)
$20M - Series B
Headspin (2015, Mountain View, $20M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Software Testing Tools > Feed Summary > Investment Trend Summary
Seed Accel Partners (#2), Bessemer Venture Partners (#1), In-Q-Tel (#1)
Series A/B GV (#5), Accel Partners (#3), New Enterprise Associates (#3)
Series C+ Insight Venture Partners (#3), OpenView (#2), Accel Partners (#1)
Incubators 500 Startups (#8), Plug and Play Tech Center (#3), DG Incubation
(#2)
Other Notable
Investors
Kima Ventures (#3), Heavybit (#2), KMS Technology(#2)
Debt Investors Hercules Capital (#2), Adams Street Partners (#1), Ardian (#1)
Most Active InvestorsRecent Investments
92
137
110
69
5 1
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 31 34 36 28 28 4
$1.5B
$370M
$287M
$66M
$2.9M
US
Israel
Europe
India
Latam
$ Funding
$6M
$217M
$359M
$256M
$350M
$324M
$24M
16
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in Software Testing Tools
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Benchmark Capital 2
Panaya (2006, Hod Hasharon, $59M)
Coverity (2002, San Francisco, $22M)
Western Technology
Investment
2
BlazeMeter (2011, Tel Aviv, $7.7M)
Keynote (1995, San Mateo)
.406 Ventures 1 Veracode (2006, Burlington, $107M)
Alta Partners 1
nCircle Network Security (1999, San
Francisco, $31.3M)
Atlas Venture 1 Veracode (2006, Burlington, $107M)
Mar 2017 Veracode Acq by CA Technologies for $614M
Feb 2015 Panaya Acq by Infosys for $220M
Feb 2014 Coverity Acq by Synopsys for $334M
Jun 2013 Keynote Acq by Thoma Bravo for $395M
Mar 2013 nCircle Network Security Acq by Tripwire for $140M
Oct 2009 Gomez Acq by Compuware for $295M
Software Testing Tools > Feed Summary > Exit Outlook Summary
Google 4
LeapDroid (Nov 2016), Fabric (Jan 2017), Crashlytics (Jan
2017)
CA Technologies 4
Veracode (Mar 2017, $614M), BlazeMeter (Sep 2016, $100M),
Grid Tools (Jun 2015)
SmartBear 4
Hiptest (May 2018), SoapUI (Jul 2011),
CrossBrowserTesting (May 2016)
Synopsys 3
Coverity (Feb 2014, $334M), Codiscope (Nov 2016), Cigital
(Nov 2016)
Hewlett-Packard 3
Mercury interactive (Jul 2006, $4.5B), SPI Dynamics (Jun
2007), Fortify (Sep 2010)
Recent IPOs Top Acquisitions
RadView Aug 2000
WebLOAD Performance and Load Testing
IPO MCap: $164M
Keynote Sep 1999
Cloud based testing, monitoring and analy…
IPO MCap: $319M
Tesnet
Quality Assurance and Testing Company
IPO MCap: -
Quotium
IAST based application security and vulne…
IPO MCap: -

FACTSHEET
Marketmap: Software Testing Tools
CRASH REPORTING*
CRASH REPORTING
TESTING METHODOLOGIES
DEVICE LAB
CROWDSOURCED TESTING
EMULATOR TESTING
CONTINUOUS TESTING*
DISTRIBUTED
APP TESTING*
TEST MANAGEMENT
TESTING TYPES
PERFORMANCE TESTING
CROSS BROWSER TESTING
USABILITY TESTING
SECURITY TESTING
UI TESTING*
AUTOMATED TESTING TOOLS
AUTOMATED
TESTING TOOLS
SUITE
Overview
Companies 896
Funded 193 Series A+ 80
Funding $2.3B Last 2 yrs $464M
Most Active Investors
Seed Accel Partners (2)
Series A/B GV (5)
Series C+ Insight Venture Partners (3)
Others Kima Ventures (3)
Incubators 500 startups (8)
Top Cities
Bay Area 133 Cos $940M
Vienna 2 Cos $174M
Feed in Numbers
Unicorns 1 Soonicorns 17
Minicorns 16 Editor Picks 59
Acquihired 3 Deadpooled 102
Top Companies
SmartBear (2003, Beverly)
Parasoft (1987, Monrovia)
WhiteHat Security (2001, Santa Clara, $50.8M)
Exits
IPOs 4 Keynote, RadView
Acquisitions 66 Veracode, Keynote
Top Acquirers Google, CA Technologies
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.
Software Testing Tools > Feed Summary > BlueBox
* Upcoming Business Model Funding data excludes Debt, Grants & Post-IPO rounds.
Excludes all details for Chinese companies.
7

Key Sub Sectors in Software Testing Tools Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Automated Testing Tools >
AI based 11 $70.6M 7
Testing Types >
Security Testing 63 $55.3M 5
Testing Types >
UI Testing 25 $42.1M 4
Testing Types >
AB Testing 15 $38M 4
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Testing Types
Companies that provide testing tools which are
categorized into Security, Usability,...
331 83 $1.2B
Testing Methodologies
Companies that provide platforms for testing various
app aspects using emulators, device...
100 38 $480M
Automated Testing Tools
Companies that provide tools and frameworks for
testers to enable automated testing of...
252 42 $318M
Test Management
Companies that create and maintain test artifacts like
requirements, test cases, and...
165 14 $128M
Suite
Companies providing multiple solutions for end to end
testing from backend testing, to...
12 5 $83.3M
Crash Reporting
Companies providing tools that assist developers to
find out application crashes
24 10 $78.3M
Analytics
Companies providing tools that provide test based
analytics
2 1 $2M
Software Testing Tools > Feed Summary > Summary of Key Markets

List of Notable Companies in Software Testing Tools
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Software Testing Tools > Feed Summary > Notable Companies in the Sector
Public
RadView
(1993, Rosh Haayin)*
Quotium
(2005, Paris)
Tesnet
(1998, Hemel Hempstead)
Acquired
Mercury interactive
(1989, Mountain View)
Veracode
(2006, Burlington, $107M)
Keynote
(1995, San Mateo)
Coverity
(2002, San Francisco, $22M)
Gomez
(1997, Lexington, $67.5M)
Panaya
(2006, Hod Hasharon, $59M)
nCircle Network
Security
(1999, San Francisco, $31.3M)
Borland
(1976, Austin)
BlazeMeter
(2011, Tel Aviv, $7.7M)

List of Notable Companies by Market in Software Testing Tools
Notable Companies by Market (1/4)
11
Software Testing Tools > Feed Summary > Notable Companies by Market
Test Management
Test Management
SaaS for ERP change analytics and Enterprise
change testing
Stage: Acquired
IGP, Battery Ventures, Benchmark Capital and 4
Other Investors
Tricentis (2008, Vienna, $174M)
Provides enterprise software testing solutions
Soonicorn. Stage: Series B
Wipro, Insight Venture Partners, ViewPoint Capital
Partners and 1 Other Investors
Tesnet (1998, Hemel Hempstead)
Stage: Public
Crowdsourced Testing
Applause (2007, Framingham, $116M)
In-the-wild software testing and app analytics
Soonicorn. Stage: Acquired
Credit Suisse, Accenture, Questmark Partners and
11 Other Investors
Crowdsourced Web Application Security Testing
Soonicorn. Stage: Series C
Triangle Peak Partners, Blackbird Ventures,
Costanoa Venture and 12 Other Investors

12
Device Lab
Perfecto Mobile (2006, Rosh Haayin, $83M)
Cloud Testing on Real Devices
Soonicorn. Stage: Series E
TCV, FTV Capital, Globespan Capital Partners and 2
Other Investors
Xamarin (2011, San Francisco, $82.3M)
App development for iOS & Android
Insight Venture Partners, Floodgate Fund, Charles
River Ventures and 2 Other Investors
Cloud based testing, monitoring and analytics for
mobile and web
Stage: Acquired
MMV Financial, Capital Finance Group, Rembrandt
Venture Partners and 2 Other Investors
Testing Types
Security Testing
Veracode (2006, Burlington, $107M)
Website and Mobile Application Security Testing
Unicorn. Stage: Acquired
Wellington Management, Meritech Capital Partners,
Atlas Venture and 11 Other Investors
Checkmarx (2006, Ramat Gan, $98.5M)
Application source code analysis technologies
Soonicorn. Stage: Series A
Insight Venture Partners, Salesforce, XT Hi-Tech
and 2 Other Investors
HackerOne (2012, San Francisco, $74M)
Vulnerability disclosure & internet bug bounty
programs
EQT Ventures, Dragoneer Investment Group, New
Enterprise Associates and 2 Other Investors
Security Testing
Crowdsourced Vulnerability Discovery
Hewlett Packard Enterprise, Singtel Innov8, GGV
Capital and 10 Other Investors
Cigital (1992, Mountain View, $55M)
Interactive application security testing solution
LLR Partners, Mid-Atlantic Venture Funds, Blue
Water Capital and 1 Other Investors
Web Application Security Company
Soonicorn. Stage: Series D
ORIX, JMI Management, Investor Growth Capital

13
Testing Types
Security Testing
Francisco, $31.3M)
Security Intelligence and Compliance management
solutions
Stage: Acquired
Menlo Ventures, BV Capital Partners, Alta Partners
Provider of development testing software
Stage: Acquired
Foundation Capital, Benchmark Capital, Ceres
Venture Fund
Quotium (2005, Paris)
IAST based application security and vulnerability
assessment tools
Stage: Public
Usability Testing
User Testing (2007, Mountain View, $48.5M)
Feedback from users for website and apps
Accel Partners, OpenView, Kern Whelan Capital and
7 Other Investors
Cross Browser Testing
Sauce Labs (2008, San Francisco, $96.1M)
Cross browser, Selenium and Mobile Testing
solutions
Soonicorn. Stage: Series E
Centerview Capital, IVP, Adams Street Partners and
5 Other Investors
Cloud platform for online cross-browser testing
Accel Partners

14
Testing Types
Performance Testing
Gomez (1997, Lexington, $67.5M)
Web performance monitoring solutions
Stage: Acquired
AdAstra, Dolphin Equity Partners, Morningstar and
7 Other Investors
The Load Testing Cloud
Stage: Acquired
YL Ventures, Glilot Capital Partners, DHG
Communications Network and 4 Other Investors
Mercury interactive (1989, Mountain View)
Load testing tool
Stage: Acquired
RadView (1993, Rosh Haayin)
Stage: Public
Fortissimo Capital, Formula Ventures
Network Testing
App Testing on global mobile network
Soonicorn. Stage: Series B
Iconiq Capital, Battery Ventures, EQT Ventures and
19 Other Investors
Suite
Suite
Soasta (2006, Mountain View, $78.4M)
End user experience and application performance
monitoring & analytics
Tennenbaum Capital Partners, Canaan Partners,
Pelion Venture Partners and 12 Other Investors
Software testing tools for web, mobile and desktop
applications
Apollo Investment Corporation, Insight Venture
Partners, Toba Capital
Parasoft (1987, Monrovia)
Software security testing products
Soonicorn. Stage: Unfunded
Borland (1976, Austin)
Software quality improvement products
Stage: Acquired

Recent News in Software Testing Tools Sector
Recent News
15
Software Testing Tools > Feed Summary > Recent News
Mar 2019
Teen Becomes World’s First $1 Million Bug Bounty Hacker on
HackerOne, Business Wire
Feb 2019
Sauce Labs Named One of the 2019 Best Workplaces in the Bay Area
by Great Place to Work® and FORTUNE, GlobeNewswire
Feb 2019 Sauce Labs expands in Europe, UKTN
Feb 2019
De La Rue signs £3.5mln contract with HMRC to deliver track and
trace service for all UK tobacco products, Proactive Investors
Feb 2019
Axway and API Fortress Help Enterprises Accelerate Development
Safely with Continuous API Testing, PR Newswire
Feb 2019
Need for Developer-Focused Security Soars as Security
Vulnerabilities Almost Double in Two Years, Snyk Report Reveals,
PR Newswire
Feb 2019
Parasoft Streamlines AUTOSAR Compliance and Reporting,
Enabling Organizations to Efficiently Achieve Required Levels of
Safety and Security in Embedded Systems, PR Newswire
Feb 2019
Applitools Brings AI Powered Visual Testing to Selenium IDE, PR
Newswire
Feb 2019 Tricentis Tosca 12.1 Released, DEVOPSdigest
Feb 2019
Murata, Cypress and NXP Collaborate on Multi-Platform Wi-Fi® IoT
Solutions, PR Newswire
Feb 2019
UserTesting Makes Real-Time Human Insight Available Anywhere,
Anytime with the Launch of Live Conversation Mobile, Business Wire
Feb 2019
Inflectra, Neotys Reignite Partnership to Boost Product Offerings in
Europe and North America, PR Newswire
Key Recent News Key Recent News
Feb 2019
Renaissance becomes first distributor of Veracode platform in
Ireland, TechCentral Ireland
Feb 2019
Bugcrowd Named To Fast Company's Annual List Of The World's
Most Innovative Companies for 2019, PR Newswire
Feb 2019
Tricentis Scored Highest in Gartner 2018 Critical Capabilities for
Software Test Automation for Enterprise End-to-End Testing and
Progressive Web Apps/Responsive Web/Native App Use Cases,
DEVOPSdigest
Feb 2019
Parasoft introduces significant enhancements to help organizations
deliver secure and reliable .NET applications, PR Newswire
Feb 2019
HackerOne Appoints NEA Partner Hilarie Koplow-McAdams to
Board, Citybizlist
Feb 2019
Applitools Named to 2019 CB Insights AI 100 List of Most
Innovative Artificial Intelligence Startups, PR Newswire
Feb 2019
Kobiton Names Key Industry Players as Top QA Professionals,
PRWeb
Feb 2019
Applitools Recognized as a Top AI and ML Solution in DevOps,
AiThority
Feb 2019 Arlo CIO Tejas Shah Joins Bugcrowd Advisory Board, PR Newswire
Feb 2019
UserZoom Records Triple-Digit Growth Rates in the Adoption of Its
UX Insights Platform in 2018, PRWeb
Jan 2019
Indusface Bundles CDN Along With AppTrana to Provide Website
Acceleration + Fully Managed Application Security, PR Newswire
Jan 2019 QASymphony and Tricentis Finalize Merger, DEVOPSdigest

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
16
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in Software Testing Tools; 2012-2019
Global Funding Trends (1/2)
18
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Software Testing Tools > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 6% # of Rounds24% $ Funding
3% # of Rounds
3% $ Funding
$6M
$88M
$183M
$217M
$359M
$256M
$350M
$324M
$24M
0
5
10
15
20
25
30
35
40
45
$0k
$50M
$100M
$150M
$200M
$250M
$300M
$350M
$400M
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

$4M $14M $9M $11M $11M $8M $24M $770K
$34M
$79M
$48M
$137M
$136M
$229M
$231M
$5M
$50M $90M $161M
$211M
$110M
$113M
$70M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
14 26 15 14 15 12 9 3
6 9
10 14
18
10 16
1
3 5 6 6 3 6 3
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
23
4
Total # of Rounds
19
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Software Testing Tools; 2012-2019
Software Testing Tools > Investment Trends > Global Funding Trends
34
18
14
11
8
8
2
95
$1.2M
$2.8M
$0.0M
$2.0M
$4.0M
$6.0M
$8.0M
$10.0M
$12.0M
0
10
20
30
40
50
60
70
80
90
100
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.2M $1.2M $2.1M $2.5M $1M $11.2M $0.1M $2.8M
$30M
$111M
$157M
$269M
$105M
$288M
$194M
0
1
2
3
4
5
6
7
8
0
50000000
100000000
150000000
200000000
250000000
300000000
350000000
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
1 3 4 7 2 5 7 -
$88M
$6M
Total $ Invested

Software Testing Tools > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Software Testing Tools
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 940M 117
Vienna 174M 3
Ramat Gan 131M 7
Framingham 116M 8
Burlington 107M 6
Atlanta 79.6M 16
Rosh Haayin 77M 4
Tel Aviv 68M 12
Lexington 67.5M 7
Hod Hasharon 59M 6
Total Funding
100
36
50
21
2
2
1
1
# Rounds
$1.5B
$370M
$287M
$66M
$2.9M
$1.5M
$1.4M
$1M
US
Israel
Europe
India
Latam
Australia
New
Zealand
Canada
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.5 $0.8 $0.9 $1.0 $1.1 $0.9
$2.6
2012 2013 2014 2015 2016 2017 2018
Software Testing Tools > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Software Testing Tools; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10K* $4.2M
$1M $50M
$2M $165M
$170K $84M
$23.6M
$15M
$5.3M
$600K
Series C+
Series B
Series A
Seed
Stage
$2.5
$33.0
$7.0
$25.0
$11.5
$49.0
$17.3
$16.7 $18.0
$26.8
$35.1 $36.5
$28.3
$23.2
$7.3
$2.6 $4.2
$7.9 $6.4 $8.2
$13.7

Note: 69 companies with undisclosed funding amount are not included
22
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
34
46
32
14
3
No. of Companies
Software Testing Tools > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Software Testing Tools; as of Mar 2019
Distribution of companies by Funding Range
$10M
$192M
$769M
$950M
$397M
$ Investment

Stage No. of Companies
Funding
Funnel
100%
22%
9%
5%
3%
23
Note: Numbers in the brackets show the count of companies
Time to raise
next round
24
43
80
193
896
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
22% 3%
(29)
1%
(13)
0%
(3)
11%
(102)
67%
(598)
41% 13%
(26)
6%
(11)
1%
(1)
10%
(19)
48%
(93)
54% 26%
(21)
8%
(6)
- 3%
(2)
44%
(35)
56% 44%
(19)
12%
(5)
- 2%
(1)
42%
(18)
- 63%
(15)
17%
(4)
- 4%
(1)
46%
(11)
Software Testing Tools > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Software Testing Tools
Funding Funnel
21 Months
21 Months
19 Months
Investment backedBootstrapped
17
1
44
4
22
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Software Testing Tools > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Software Testing Tools; Mar 2017-Mar 2019
Notable Investments in last 24 months (1/3)
LATE STAGE
$40M - Series C May 2017
Online test management platform
Insight Venture Partners
$31M - Series C Apr 2018
Cloud based UI testing tool
OpenView, Sierra Ventures, Magma Venture
Partners, IAngels
$26M - Series C Mar 2018
Triangle Peak Partners, Blackbird Ventures,
Costanoa Venture, Industry Ventures, Paladin
Capital, Rally Ventures, Salesforce, Stanford
University, Hostplus, First State Super
$21.3M - Series C Apr 2017
Capital, GV, Kleiner Perkins, M12
LATE STAGE
$12.7M - Series D Aug 2018
Apica (2005, Stockholm, $37.4M)
Solutions for application performance testing and
monitoring
Industrifonden, SEB, KTH Chalmers Capital
$12M - Series D Sep 2017
Apica (2005, Stockholm, $37.4M)
Solutions for application performance testing and
monitoring
Oxx, Nordic Venture, SEB, Chalmers Capital
Series C Apr 2017
programs
EQT Ventures
EARLY STAGE
$50M - Series A Jan 2018
Accel Partners
$25M - Series B Jan 2018
Rainforest QA (2012, San Francisco, $42.2M)
QA as a service
Silicon Valley Bank, Bessemer Venture Partners,
Sutter Hill Ventures, Rincon Venture Partners,
Initialized Capital
$22M - Series B Sep 2018
Vulnerability detection & assessment in open source
code
Accel Partners, GV, BOLDstart Ventures, Heavybit
$22M - Series A Jun 2017
Develops AI based solutions for software
development
Oxford Sciences Innovation, Goldman Sachs,
Alessandro Abate, Kelvin Deon

EARLY STAGE
$20M - Series B Sep 2018
Automated functional testing tool using machine
learning
GV, Charles River Ventures, Amplify Partners
$20M - Series B Oct 2018
Iconiq Capital, Battery Ventures, EQT Ventures,
Adam D'Angelo , GV, Kearny Jackson , Ryan Hoover ,
Nexus Venture Partners, Digital Horizon, Next World
Capital, Ross Mason, Telstra Ventures
$16M - Series B May 2018
Sentry (2011, San Francisco, $26.5M)
Open source bug tracking and crash reporting
software
New Enterprise Associates, Accel Partners
EARLY STAGE
$14M - Series B Aug 2017
prooV (2015, Herzliya, $21.1M)
POC as a service platform
Mangrove Capital Partners, OurCrowd, Cerca
Partners, Armat Group
$10M - Series A Feb 2018
learning
Charles River Ventures, Amplify Partners
$8M - Series B Jul 2017
Sierra Ventures, Bessemer Venture Partners, Magma
Venture Partners, IAngels
$7M - Series A Mar 2018
Vulnerability detection & assessment in open source
code
BOLDstart Ventures, Canaan Partners, Heavybit,
FundFire, Peter McKay
EARLY STAGE
$5.1M - Series B Jan 2019
Appvance (2012, San Jose, $12M)
Load and Performance Testing in Agile way
Series B Aug 2017
Provides enterprise software testing solutions
Wipro
Series A Nov 2017
Telstra Ventures

SEED STAGE
$600k - Seed Aug 2017
eureQa (2012, Hyderabad, $1.4M)
Cloud test automation platform
SRI Capital, Rose Abraham, Walter Buckley, Thomas
Gravina
Seed Oct 2017
Wipro

Software Testing Tools > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$36.1M - Series C Aug 2018
All Mobilize (2013, Beijing, $62.3M)
Mobile cross browser testing platform
IDG Capital, Morningside Ventures

Most Active Investors (VC, PE) by Stage in Software Testing Tools; Last 5 years (Mar 2014-Mar 2019)
Most Active VC & PE Investors
28
Software Testing Tools > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Accel Partners (2 Investments)
Sentry, Instabug
1
In-Q-Tel
Apkudo
2
Andreessen Horowitz
Rainforest QA
3
Bain Capital Ventures
APImetrics
4
BLH Venture Partners
Cypress
5
Alexa Fund
Pulse Labs
6
Tech Square Ventures
Cypress
7
Rally Ventures
Backtrace I/O
8
Bessemer Venture Partners
Cypress
9
Foundation Capital
Headspin
10
EARLY STAGE
GV (5 Investments)
Headspin, Snyk, mabl
1
Sentry, Snyk, BrowserStack
2
New Enterprise Associates(3 Investments)
Sentry, HackerOne, Sentry
3
Benchmark Capital (2 Investments)
HackerOne, Bugsnag
4
Bessemer Venture Partners (2
Investments)
Rainforest QA, Applitools
5
Amplify Partners (2 Investments)
Backtrace I/O, mabl
6
Industry Ventures(2 Investments)
Rainforest QA, Bugcrowd
7
Vertex Ventures(2 Investments)
Hansel, Testlio
8
Canaan Partners
Snyk
9
Charles River Ventures
mabl
10
LATE STAGE
Insight Venture Partners (3 Investments)
QASymphony, Checkmarx, Xamarin
1
OpenView(2 Investments)
Applitools, User Testing
2
FTV Capital
Perfecto Mobile
3
Accel Partners
User Testing
4
EQT Ventures
HackerOne
5
IVP
Sauce Labs
6
TCV
Perfecto Mobile
7
M12
Synack
8
ORIX
WhiteHat Security
9
Triangle Peak Partners
Bugcrowd
10

Software Testing Tools > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Software Testing Tools; Last 5 years (Mar 2014-Mar 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(8 Investments)
AppOnboard, Sentry, Cobalt
1
Plug and Play Tech Center(3 Investments)
Verisium, Cobalt, Zephyr
2
Techstars(2 Investments)
Pulse Labs, MoQuality
3
Y Combinator(2 Investments)
PreFlight, Instabug
4
UpWest Labs(2 Investments)
Loadmill, Jaco
5
DG Incubation(2 Investments)
Craftsman Software, Cobalt
6
Startup Sauna
Kuoll
7
Magma Venture Partners
Applitools
8
SINE
Appvigil
9
Moller Ventures
Applause
10
OTHER NOTABLE INVESTORS
Kima Ventures(3 Investments)
Cobalt, MyCrowd, TrackDuck
1
Heavybit(2 Investments)
Snyk, Testim
2
Wipro(2 Investments)
Headspin, Tricentis
3
KMS Technology(2 Investments)
Kobiton, QASymphony
4
Salesforce
Bugcrowd
5
Goldman Sachs
DiffBlue
6
Korea Investment Partners
AppOnboard
7
IAngels
Applitools
8
Modern Times Group
AppOnboard
9
Mirae Asset
AppOnboard
10
DEBT INVESTORS
Hercules Capital(2 Investments)
Gomez, Soasta
1
Macquarie Group
Plutora
2
Silicon Valley Bank
Rainforest QA
3
Ardian
Neotys
4
Adams Street Partners
Sauce Labs
5
Mercia Technologies
CloudLoad
6

Software Testing Tools > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/2)

Software Testing Tools > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (2/2)

Software Testing Tools > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
33
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Docker Ecosystem
Jan 2019
Big Data Infrastructure
Jan 2019
Coding Tools
Jan 2019

FACTSHEET
Marketmap: Software Testing Tools
Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.35
Software Testing Tools > Market Details > BlueBox

Key Sub Sectors (1/2)
36
Key Sub Sectors in Software Testing Tools
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Testing Types
Companies that provide testing tools which are categorized into Security, Usability, Cross
Browser, ....
Veracode (2006, Burlington, Acquired)
331 83 $1.2B
Companies that provide platforms for testing various app aspects using emulators, device labs
and by crowd-sourcing
Applause (2007, Framingham, Acquired)
Perfecto Mobile (2006, Rosh Haayin, $83M)
100 38 $480M
Companies that provide tools and frameworks for testers to enable automated testing of
applications
TestQuest (1983, Minneapolis, Acquired)
252 42 $318M
Test Management
Companies that create and maintain test artifacts like requirements, test cases, and track
defects
Panaya (2006, Hod Hasharon, Acquired)
165 14 $128M
Suite
Companies providing multiple solutions for end to end testing from backend testing, to
automated fun....
Soasta (2006, Mountain View, Acquired)
Bespoken (2016, Lima, $2.9M)
12 5 $83.3M
Crash Reporting
Companies providing tools that assist developers to find out application crashes
Crashlytics (2011, Cambridge, Acquired)
Sentry (2011, San Francisco, $26.5M)
24 10 $78.3M
Analytics
Companies providing tools that provide test based analytics
Testspace (2012, Encinitas)
2 1 $2M
Test Infrastructure
Companies that provide infrastructure for testing
Testributor (2015, Athens)
Minimesos (2015, Amsterdam)
4 0 -
Test Reporting
Companies providing tools that provide test reporting
ReportPortal (2016, Panama City)
Software Flash Test (2017, Orlando)
4 0 -
Software Testing Tools > Market Details > Key Sub Sectors

Key Sub Sectors (2/2)
37
Key Sub Sectors in Software Testing Tools
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
System Under Test
Companies providing test suites for any System Under Test (SUT)
xTT (2011, New York City)
1 0 -
Software Testing Tools > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/4)
38
Software Testing Tools > Market Details > Detailed Sector Taxonomy

39

40

41

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+2)
Automated Testing Tools > AI based
Companies providing AI based automated testing tools
(Companies covered 11 | Funded 7 | Total Funding $87.4M)
$70.6M
(+$60.5M)
7
(+2)
DiffBlue
(2016, Oxford, $24.4M)
2
(-1)
Testing Types > Security Testing
Companies that provide tools to test the security of the applications
(Companies covered 63 | Funded 27 | Total Funding $663M)
$55.3M
(-$99.4M)
5
(-4)
Snyk
(2015, Ramat Gan, $33M)
3
(-1)
Testing Types > UI Testing
Companies providing Visual UI Testing tools for apps and websites
$42.1M
(+$7.6M)
4
(-)
Applitools
(2013, Tel Aviv, $46M)
4
(-)
Testing Types > AB Testing
Companies providing tools for comparison of two versions of an app against each other to determine
which one performs better
$38M
(+$36.3M)
4
(+2)
AppOnboard
(2016, Los Angeles, $50M)
42
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in Software Testing Tools in last 2 years (March 2017 - February 2019)
Software Testing Tools > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Testing Types > Cross Browser Testing
Companies providing tools to check compatibility of the application in various browsers
(Companies created 26 | Funded 8 | Total Funding $148M )
1 BrowserStack (2011, Mumbai, $50M)
2
Crash Reporting
Companies providing tools that assist developers to find out application crashes
(Companies created 21 | Funded 8 | Total Funding $71.1M )
1 Sentry (2011, San Francisco, $26.5M)
3
Testing Types > Security Testing
Companies that provide tools to test the security of the applications
1 Snyk (2015, Ramat Gan, $33M)
4
Testing Types > Network Testing
Companies providing tools that help test real devices on networks
1 Headspin (2015, Mountain View, $20M)
5
Testing Types > UI Testing
Companies providing Visual UI Testing tools for apps and websites
(Companies created 25 | Funded 5 | Total Funding $83.7M )
1 Applitools (2013, Tel Aviv, $46M)
6
Companies that provide tools and frameworks for testers to enable automated testing of applications
1 Testim (2014, Tel Aviv, $13.6M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
43
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (March 2017 - February 2019)
Software Testing Tools > Market Details > Top Markets of Early Stage Investors

Incubators Techstars (#1)
Seed Oxford Sciences Innovation (#1), FundersClub (#1)
Series A/B GV (#1), Charles River Ventures (#1)
Series C+
None
$5.1M - Series B
$2.5M - Seed
MoQuality (2015, Atlanta, $2.5M)
$20M - Series B
$11M - Series A
Appdiff (2015, San Francisco, $18M)
$10M - Series A
$22M - Series A
$20k - Seed
MoQuality (2015, Atlanta, $2.5M)
$2.5M - Series A
Appdiff (2015, San Francisco, $18M)
$352k - Seed
Unravel (2013, Dublin, $458k)
$2.2M - Seed
$5M - Series A
Oct 2018
MoQuality nabs $2.5M seed funding to build AI-driven app
testing solutions that enhance end-user experiences, PR
Newswire
Sep 2018
Mabl announces $20 million Series B to bring automated QA
to enterprise customers, Consultants Insider
Sep 2018
GV leads $20 million investment in automated software
testing startup Mabl, VentureBeat
Apr 2018 Silber named chair of Diffblue, PE Hub
Feb 2018
With $10M in funding, Mabl brings machine learning to
software testing, TechCrunch
Sep 2017
Appvance Launches AI-Driven Test Automation, Latest
Software Testing News
Jun 2017
Diffblue, a University of Oxford AI spin-out, raises USD22
million in Series A funding, Angel News Newsletter
May 2013 Appvance Closes First Funding Round , PRWeb
News
-
-
4
7
11
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Automated Testing Tools > AI based: Market Factsheet
44
Exits
Recent InvestmentsCompanies providing AI based
automated testing tools
mabl
(2016, Boston, $30M)
DiffBlue
(2016, Oxford, $24.4M)
Appdiff
Appvance
(2012, San Jose, $12M)
Top Companies
#1 Top Markets of Investment Activity
Software Testing Tools > Market Details > Market: AI based
Companies Created 11 | Funded 7 | Total Funding $87.4M
0
10
20
$0k
$100M
$200M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: AI based

Automated Testing Tools > AI based: Top Companies
Market: AI based
Analyst’s Pick
learning
Minicorn. Stage: Series B
GV, Charles River Ventures, Amplify Partners
Develops AI based solutions for software
development
Minicorn. Stage: Series A
Oxford Sciences Innovation, Goldman Sachs,
Alessandro Abate and 6 Other Investors
Load and Performance Testing in Agile way
Javelin Venture Partners, FundersClub, Linden
Mobile Ventures and 4 Other Investors

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
46
Automated Testing Tools > AI based: Leaderboard
Better than Market Average
Market: AI based
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 DiffBlue 2016 Oxford Series A $24.4M 2 5 - - 4 391 - - 2 - - 215 122%
4.8 mabl 2016 Boston Series B $30M 2 5 - - 3 899 - - 3 - - 355 65%
3.9 Appdiff 2015
San
Francisco
Series A $18M 2 4 - - 4 12 - - 1 - - - -
3.8 Appvance 2012 San Jose Series B $12M 3 - - - - 16.6k - - 3 - - -296 -2%
3.7 MoQuality 2015 Atlanta Seed $2.5M 2 - 4 4 3 177 3k 17 1 - - 28 19%
1.4 Behivee 2016 Chuo Funded - - 3 - - 4 - - - - - - - -
0.7
Qassurance
AI
2017 Toronto Unfunded - - - - - 4 8 - - - - - - -
0.1 Asayer 2016 La Defense Unfunded - - - - - 3 - - - - - - - -
0.0 Replay QA 2017
Fort
Lauderdale
Unfunded - - - - - 2 - - - - - - - -
0.0 Applied-Q 2016 0.0 Unfunded - - - - - 2 - - - - - - - -

Incubators CyLon (#1), DG Incubation (#1)
Seed Kleiner Perkins (#1), Kima Ventures (#1)
Series A/B GV (#2), Benchmark Capital (#2)
Series C+ Insight Venture Partners (#1), In-Q-Tel (#1)
Veracode Mar - 2017
Acq by CA Technologies for $614M
Cigital Nov - 2016
Acq by Synopsys
Codiscope Nov - 2016
Acq by Synopsys
Palamida Oct - 2016
Acq by Flexera
NT OBJECTives May - 2015
Acq by Rapid7
iViZ Security Oct - 2014
Acq by Cigital
$22M - Series B
$5M - Series A
Cobalt (2013, San Francisco, $7.5M)
$7M - Series A
$21.3M - Series C
Series C
HackerOne (2012, San Francisco,
$74M)
$40M - Series C
HackerOne (2012, San Francisco,
$74M)
Mar 2019
Teen Becomes World’s First $1 Million Bug Bounty Hacker
on HackerOne, Business Wire
Feb 2019
Vulnerabilities Almost Double in Two Years, Snyk Report
Reveals, PR Newswire
Feb 2019
Renaissance becomes first distributor of Veracode platform
in Ireland, TechCentral Ireland
Feb 2019
HackerOne Appoints NEA Partner Hilarie Koplow-McAdams
to Board, Citybizlist
Dec 2018
Penetration Testing Market - Revolutionary Trends 2025 |
Qualys, Inc., IBM, Synopsys, Inc., and Portswigger Ltd, openPR
Dec 2018
HackerOne Assists DoD in Another Air Force Bug Bounty
Challenge; Marten Mickos Quoted, ExecutiveBiz
Dec 2018
Global Penetration Testing Market 2018 Industry Statistics –
Acunetix, Checkmarx, Cigital, Inc., Contrast Security, The
Buzzy Feed
Dec 2018
Application Security Testing Market – Top players are
Hewlett Packard Enterprise, IBM Corporation, Veracode,
WhiteHat Security, Acunetix, Cigital, Checkmarx Inc., Rapid7,,
CMFE News
Nov 2018
Code Dx Enterprise Now Offers Innovative New Dashboard
Providing Complete AppSec Visualization, GlobeNewswire
Nov 2018
Mitsubishi Motors ousts Ghosn as chairman, days after
Nissan firing, Reuters
Nov 2018 Checkmarx Acquires Custodela, DEVOPSdigest
Nov 2018
Wachtell, Kirkland Guide PE Firm's $950M Cybersecurity
Buy, Law360
News
16
10
20
27
63
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Testing Types > Security Testing: Market Factsheet
47
Exits
Recent InvestmentsCompanies that provide tools to
test the security of the
applications
Veracode
Checkmarx
(2006, Ramat Gan, $98.5M)
HackerOne
Synack
(2013, Menlo Park, $55.3M)
Cigital
(1992, Mountain View, $55M)
Top Companies
Software Testing Tools > Market Details > Market: Security Testing
Companies Created 63 | Funded 27 | Total Funding $663M
0
5
10
15
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Market: Security Testing

Testing Types > Security Testing: Top Companies
Analyst’s Pick
Unicorn. Stage: Acquired
Wellington Management, Meritech Capital Partners,
Atlas Venture and 11 Other Investors
Application source code analysis technologies
Insight Venture Partners, Salesforce, XT Hi-Tech
programs
EQT Ventures, Dragoneer Investment Group, New
Enterprise Associates and 2 Other Investors
Capital and 10 Other Investors
Analyst’s Pick
LLR Partners, Mid-Atlantic Venture Funds, Blue
Water Capital, Liquid Capital Group
Web Application Security Company
Soonicorn. Stage: Series D
ORIX, JMI Management, Investor Growth Capital
Vulnerability detection & assessment in open
source code
Accel Partners, GV, BOLDstart Ventures and 6 Other
Investors
Appknox (2014, Singapore, $669k)
Automated security testing for mobile apps
Minicorn. Stage: Seed
SeedPlus, Jungle Ventures, Rajan Anandan, SpinUp
Venture
Analyst’s Pick
Fallible (2015, Bangalore)
Crowdsourced bug bounty & SaaS based
vulnerability assessment & application security
Editor's Pick. Stage: Unfunded
Hackerhive (2015, Bangalore)
Cloud-based bug-bounty and public disclosure
template generator platform
Tech Defence Labs (2014, Ahmedabad)
Web based application penetration testing solution

49
Testing Types > Security Testing: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 HackerOne 2012
San
Francisco
Series C $74M 4 4 - - - 58.5k - - 28 - - 11k 23%
4.9 Synack 2013 Menlo Park Series C $55.3M 5 - - - - 17.3k - - 15 - - 676 4%
4.9 Veracode 2006 Burlington Acquired $107M 6 - - - - 23.4k - - 20 - - 272 1%
4.8 Snyk 2015 Ramat Gan Series B $33M 3 4 - - - 4.8k - - 9 - - 834 21%
4.7 Checkmarx 2006 Ramat Gan Series A $98.5M 4 4 - - - 5.5k - - 20 - - 168 3%
4.5 Cobalt 2013
San
Francisco
Series A $7.5M 3 - - - - 4k - - 2 - - 459 13%
4.4
WhiteHat
Security
2001 Santa Clara Series D $50.8M 8 5 - - - 40.6k - - 19 - - -68 -
3.7 Cigital 1992
Mountain
View
Acquired $55M 3 4 - - - 3 - - 9 - - - -
3.7 Appknox 2014 Singapore Seed $669k 2 3 - - - 2.9k - - 3 - - 155 6%
3.6 Codiscope 2015 Boston Acquired $5M 1 - - - - 6 - - 2 - - 2 50%
3.5 Coverity 2002
San
Francisco
Acquired $22M 1 4 - - - 49 - - 2 - - 1 2%
3.3 Klocwork 2001 Boulder Acquired $19M 2 - - - - 9 - - 1 - - 2 29%
3.3 Cryptosense 2013 Paris Seed $900k 1 - - - - 1.1k - - - - - 63 7%
3.2 Palamida 2004
San
Francisco
Acquired $18.5M 3 - - - - 732 - - 1 - - -2 -

Incubators Y Combinator (#1), Magma Venture Partners (#1)
Seed
Series A/B
Pelion Venture Partners (#1), Bessemer Venture Partners
(#1)
Series C+ OpenView (#1)
Ghost Inspector Dec - 2014
Acq by Runscope
$150k - Seed
PreFlight (2017, Rolling Meadows,
$150k)
$31M - Series C
$3M - Series B
ObservePoint (2006, Provo, $37.5M)
$8M - Series B
$19M - Series B
$7M - Series B
$2M - Series A
$6.5M - Series A
$2.5M - Series A
Feb 2019
Applitools Brings AI Powered Visual Testing to Selenium
IDE, PR Newswire
Feb 2019
Applitools Recognized as a Top AI and ML Solution in
DevOps, AiThority
Jan 2019
froglogic Newest Entrant in Gartner's Magic Quadrant for
Software Test Automation, PRWeb
Jun 2018
Squish GUI Tester 6.4 Release with Cutting-edge Object
Recognition, BestProductsReview
Dec 2017
SmartBear and Applitools Make Codeless Visual Testing
Easier, Faster and More Powerful Than Ever, Business Wire
Nov 2017
Applitools Showcases Latest Visual-AI Testing Capabilities At
CA World, Latest Software Testing News
Jul 2017 BVP Joins $8M Funding for Applitools, Citybizlist
Dec 2016 ObservePoint Raises $19M in Series B Funding, FinSMEs
News
1
1
2
5
25
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Testing Types > UI Testing: Market Factsheet
50
Exits
Recent InvestmentsCompanies providing Visual UI
Testing tools for apps and
websites
Applitools
(2013, Tel Aviv, $46M)
ObservePoint
(2006, Provo, $37.5M)
PreFlight
(2017, Rolling Meadows, $150k)
BackTrac
(2015, Washington D.C.)
Chromatic
(2017, San Francisco)
Top Companies
Software Testing Tools > Market Details > Market: UI Testing
0
5
10
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Market: UI Testing

Testing Types > UI Testing: Top Companies
Market: UI Testing
Analyst’s Pick
Minicorn. Stage: Series C
OpenView, Sierra Ventures, Magma Venture
Partners and 3 Other Investors

52
Testing Types > UI Testing: Leaderboard
Market: UI Testing
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Applitools 2013 Tel Aviv Series C $46M 3 5 - - - 6 - - 15 - - - -
4.5
ObservePoin
t
2006 Provo Series B $37.5M 5 - - - - 5.8k - - 2 - - -68 -1%
2.8 Selenide 2012 Tallinn Unfunded - - - - - 5 445 - - - - - 41 10%
2.7 Froglogic 2003 Hamburg Unfunded - - - - - - 235 - - 7 - - 15 7%
2.6 Uilicious 2016 Singapore Funded - - - - - 3 88 - - - - - 42 91%
2.5 PreFlight 2017
Rolling
Meadows
Seed $150k 1 5 - - 3 - - - - - - - -
2.1
Ghost
Inspector
2014
New York
City
Acquired - - - - - - 1.8k - - - - - -24 -1%
1.8
Galen
Framework
2014 Amsterdam Unfunded - - - - - - 282 - - - - - 7 3%
1.8 VisWiz.io 2017 Gothenburg Unfunded - - - - - 4 17 - - - - - 1 6%
1.5 Chromatic 2017
San
Francisco
Funded - - - - - 4 - - - - - - - -
0.9 BackTrac 2015
Washingto
n D.C.
Unfunded - - - - - 3 759 - - - - - -31 -4%
0.6 InAppText 2015 Hyderabad Unfunded - - - - 4 3 - - - - - - - -
0.1 Sightr 2017 London Unfunded - - - - - 3 4 - - - - - - -
0.1 Webmate 2013
Saarbrueck
en
Unfunded - - - - - - 4 - - - - - - -

Software Testing Tools > Market Details > Market: AB Testing
Market: AB Testing

Market: AB Testing

#1 Top Markets of Early Stage Investors
Software Testing Tools > Market Details > Market: Cross Browser Testing
Market: Cross Browser Testing

Software Testing Tools > Market Details > Market: Crash Reporting
Market: Crash Reporting

Software Testing Tools > Market Details > Market: Network Testing
Market: Network Testing

Software Testing Tools > Market Details > Market: Automated Testing Tools
Market: Automated Testing Tools

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
67
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies
69
Performance indicators of public companies in Software Testing Tools
IPO Date Company
IPO
Mcap
Exchange
Ticker
Aug 2000
RadView (1993, Rosh Haayin)
$164M NASDAQ:RDVW
Sep 1999
Cloud based testing, monitoring and analytics for mobile and web
$319M NASDAQ:KEYN
Tesnet (1998, Hemel Hempstead)
Quotium (2005, Paris)
IAST based application security and vulnerability assessment tools
EPA:QTE
Software Testing Tools > Exit Outlook > Public Companies

Notable Acquisitions (1/3)
70
Notable Acquisitions in Software Testing Tools
Software Testing Tools > Exit Outlook > Notable Acquisitions
2017
Acquirer: Vista Equity Partners
Applause (2007, Framingham, $116M)
In-the-wild software testing and app analytics
Acquirer: Francisco Partners
Software testing tools for web, mobile and desktop
applications
Acquirer: Akamai
Soasta (2006, Mountain View, $78.4M)
End user experience and application performance
monitoring & analytics
Acquirer: CA Technologies Deal: $614M
2016
Acquirer: Synopsys
Acquirer: CA Technologies Deal: $100M
The Load Testing Cloud
Acquirer: Microsoft
Xamarin (2011, San Francisco, $82.3M)
App development for iOS & Android
2015
Acquirer: Infosys Deal: $220M
SaaS for ERP change analytics and Enterprise
change testing

71
2014
Acquirer: Synopsys Deal: $334M
Provider of development testing software
2013
Acquirer: Thoma Bravo Deal: $395M
Cloud based testing, monitoring and analytics for
mobile and web
Acquirer: Tripwire Deal: $140M
Francisco, $31.3M)
Security Intelligence and Compliance management
solutions
2010
Acquirer: Hewlett-Packard
Fortify (2002, San Mateo, $22.6M)
Website and Mobile Application Security

72
2009
Acquirer: Compuware Deal: $295M
Gomez (1997, Lexington, $67.5M)
Web performance monitoring solutions
Acquirer: IBM
Ounce Labs (2002, Waltham, $29.5M)
Application source code security-testing solutions
Acquirer: Micro Focus Deal: $113M
Borland (1976, Austin)
Software quality improvement products
Before 2008
Acquirer: Hewlett-Packard Deal: $4.5B
Mercury interactive (1989, Mountain View)
Load testing tool

Most Active Acquirers
73
Software Testing Tools > Exit Outlook > Most Active Acquirers

Acqui-hires
74
List of Acqui-hires in Software Testing Tools
Excludes all details for Chinese companies
Date Target
Feb-16
pCloudy Acq by Smart Software Testing
Solutions
Apr-12 UXFlip Acq by Artisan
OpenHallway Acq by TryMyUI
Software Testing Tools > Exit Outlook > Acqui-hires
View all 3 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
75
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Software Testing Tools > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Software Testing Tools; Last 5 years (Mar 2014 - Feb 2019)
Index of Most Active VC & PE Investors
SEED STAGE
In-Q-Tel
Rally Ventures
Foundation Capital
Right Side Capital Management
Rincon Venture Partners
BOLDstart Ventures
BIP Capital
Endiya Partners
Index Ventures
Andreessen Horowitz
Bain Capital Ventures
O'Reilly AlphaTech Ventures
Tribeca Venture Partners
EARLY STAGE
GV (5 Investments)
New Enterprise Associates (3 Investments)
Benchmark Capital (2 Investments)
Bessemer Venture Partners (2 Investments)
Industry Ventures (2 Investments)
Amplify Partners (2 Investments)
Vertex Ventures (2 Investments)
Canaan Partners
Pelion Venture Partners
Rally Ventures
Foundation Capital
Chiratae Ventures
LATE STAGE
Insight Venture Partners (3 Investments)
OpenView (2 Investments)
Accel Partners
FTV Capital
EQT Ventures
IVP
TCV
M12
ORIX
Dragoneer Investment Group
IGP
Centerview Capital
Oxx

Accel Partners
78
Portfolio in Software Testing Tools | Exits | Funds Link | Website | LinkedIn | Twitter
Software Testing Tools > Investors > Accel Partners
People
Investments
[Soonicorn] BrowserStack (2011, Mumbai, $50M, Series A)
[Soonicorn] User Testing (2007, Mountain View, $48.5M, Series
C)
Feedback from users for website and apps
[Minicorn] Snyk (2015, Ramat Gan, $33M, Series B)
Vulnerability detection & assessment in open source code
[Minicorn] Sentry (2011, San Francisco, $26.5M, Series B)
Open source bug tracking and crash reporting software
[Minicorn] Instabug (2012, Palo Alto, $2M, Seed)
In-app conversations and bug reporting
Software Testing Tools Notable Portfolio
[Unicorn] Ola (2011, Bangalore, $3.4B, Series J)
App-based asset-light cab operator
[Unicorn] Facebook (2004, Menlo Park, $2.3B, Public)
Social networking site
[Unicorn] Spotify (2006, Stockholm, $2.1B, Public)
On-demand music streaming platform
[Unicorn] Swiggy (2014, Bangalore, $1.5B, Series H)
Online platform that delivers food from restaurants
[Unicorn] Slack (2009, San Francisco, $1.3B, Series H)
Real-time messaging, archiving and search for enterprise teams.
[Unicorn] Groupon (2008, Chicago, $1.1B, Public)
Daily deals website
[Unicorn] Cloudera (2008, Palo Alto, $1B, Public)
Commercialised versions of Hadoop distributions
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Arthur
Patterson
Co-Founder
Jim Swartz
Co-Founder
Jim Breyer
Co-Founder and Co-
Chair, Investment and
Strategy Committee
Greg Waldorf
CEO-in-Residence
Prashanth
Prakash
Co-Founder &
Managing Director
Sukhinder Singh
Cassidy
CEO-in-Residence
Dick Williams
CEO-in-Residence
Geographical Spread Stage of Entry
Feb 2019
Vulnerabilities Almost Double in Two Years, Snyk Report
Reveals, PR Newswire
Feb 2019
UserTesting Makes Real-Time Human Insight Available
Anywhere, Anytime with the Launch of Live Conversation
Mobile, Business Wire
Jan 2019
UserTesting Appoints Dave Ginsburg to Chief Customer
Officer, Business Wire
Jan 2019
UserTesting Acquires Market Research Company
UserMuse, Business Wire
Dec 2018
UserTesting Appoints Janelle Estes to Chief Insights
Officer; Doubles Down on the Future of Human Insight to
Improve Customer Outcomes, Business Wire
Nov 2018
UserTesting Helps to Scale Customer Research as Human-
Centric Decisions Continue to Drive the Experience
Economy, Business Wire
Nov 2018
UserTesting Helps its Customers Deliver a Seamless
Holiday Travel Experience, Business Wire
Sep 2018
Snyk raises $22M on a $100M valuation to detect security
vulnerabilities in open source code, TechCrunch
None
1
2
1 3
2013 2014 2015 2016 2017 2018
Follow On New Investments
-
1
2
1
2
Undisclosed
Series C+
Series B
Series A
Seed4
1
1
-
-
US
Israel
India

79
Software Testing Tools > Investors > Bessemer Venture Partners
People
Investments
[Minicorn] Applitools (2013, Tel Aviv, $46M, Series C)
[Minicorn] Rainforest QA (2012, San Francisco, $42.2M, Series
B)
QA as a service
[Unicorn] Ola (2011, Bangalore, $3.4B, Series J)
App-based asset-light cab operator
[Unicorn] Snapdeal (2007, Delhi, $1.8B, Series H)
Online horizontal marketplace
[Unicorn] Swiggy (2014, Bangalore, $1.5B, Series H)
Online platform that delivers food from restaurants
[Unicorn] Pinterest (2009, San Francisco, $1.5B, Series G)
Visual social bookmarking service
[Unicorn] BigBasket (2011, Bangalore, $706M, Series E)
Online retail store for grocery shopping
[Unicorn] Box (2005, Los Altos, $701M, Public)
File sharing in the cloud
[Unicorn] DocuSign (2003, San Francisco, $522M, Series F)
Digital Transaction Management Tool
[Unicorn] MediaMath (2007, New York City, $500M, Series D)
Audience Buying and Demand-Side Platform
[Unicorn] Ind-Barath Power Infra (1999, Hyderabad, $482M,
Funded)
Biomass power producer
[Unicorn] Gartner (1979, Stamford, $300M, Public)
IT research and advisory services provider
Top Exits
Toni Campbell
Founder
Feb 2019
Applitools Brings AI Powered Visual Testing to Selenium
IDE, PR Newswire
Feb 2019
Murata, Cypress and NXP Collaborate on Multi-Platform
Wi-Fi® IoT Solutions, PR Newswire
Feb 2019
Applitools Named to 2019 CB Insights AI 100 List of Most
Innovative Artificial Intelligence Startups, PR Newswire
Feb 2019
Applitools Recognized as a Top AI and ML Solution in
DevOps, AiThority
Nov 2018
Rainforest QA Expands Sales and Marketing Team With
Strategic Hires, Business Wire
Sep 2018
Rainforest QA Releases Mobile Testing Capabilities for iOS
12, Business Wire
Jul 2018
SD Times news digest: Rainforest QA new testing
features, Syncfusion Essential Studio 2018 Volume 2, and
the Harry Potter Kano Coding Kit, sdtimes.com
Jul 2018
Rainforest QA increases transparency of its human
software testing service, SiliconAngle
Jun 2018
Cypress.io Raises $4 Million for Front End Automated
Testing, DEVOPSdigest
Keynote
(1995, San Mateo)
Acq by Thoma Bravo - Jun 2013
11 1
1
2013 2014 2015 2016 2017 2018
1
-
1
1
1
Undisclosed
Series C+
Series B
Series A
Seed3
1
-
-
-
US
Israel

In-Q-Tel
80
Software Testing Tools > Investors > In-Q-Tel
Investments
Top Exits Recent News on Fund & Portfolio
Feb 2019
Renaissance becomes first distributor of Veracode
platform in Ireland, TechCentral Ireland
Jan 2019
Thoma Bravo Completes Acquisition of Veracode
Software, PR Newswire
Dec 2018
Application Security Market 2023 report gives a detailed
description of drivers and opportunities in the market
with market strategies adopted by key players such as
IBM Corporation, Hewlett Packard Enterprise, Veracode,
amarketjournal.com
Dec 2018
Application Security Testing Market – Top players are
Hewlett Packard Enterprise, IBM Corporation, Veracode,
WhiteHat Security, Acunetix, Cigital, Checkmarx Inc.,
Rapid7,, CMFE News
Nov 2018
Mitsubishi Motors ousts Ghosn as chairman, days after
Nissan firing, Reuters
Nov 2018
Thoma Bravo to buy software security firm Veracode for
$950 mln, Reuters
Nov 2018
Wachtell, Kirkland Guide PE Firm's $950M Cybersecurity
Buy, Law360
Veracode
Acq by CA Technologies - Mar
2017
Appurify
(2012, San Francisco, $6.3M)
Acq by Google - Jun 2014
AppThwack
(2012, Portland, $643k)
Acq by Amazon Web Services -
Jul 2015
1
1
1
2013 2014 2015 2016 2017 2018
1
1
-
-
2
Undisclosed
Series C+
Series B
Series A
Seed4
-
-
-
-
US

Rally Ventures
81
Software Testing Tools > Investors > Rally Ventures

Foundation Capital
82
Software Testing Tools > Investors > Foundation Capital

Right Side Capital Management
83
Software Testing Tools > Investors > Right Side Capital Management

Rincon Venture Partners
84
Software Testing Tools > Investors > Rincon Venture Partners

BOLDstart Ventures
85
Software Testing Tools > Investors > BOLDstart Ventures

Andreessen Horowitz
86
Software Testing Tools > Investors > Andreessen Horowitz

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
87
Seed Stage
Early Stage
Late Stage

GV
88
Software Testing Tools > Investors > GV

Accel Partners
89

New Enterprise Associates
90
Software Testing Tools > Investors > New Enterprise Associates

Benchmark Capital
91
Software Testing Tools > Investors > Benchmark Capital

92
Software Testing Tools > Investors > Bessemer Venture Partners

Industry Ventures
93
Software Testing Tools > Investors > Industry Ventures

Amplify Partners
94
Software Testing Tools > Investors > Amplify Partners

Vertex Ventures
95
Software Testing Tools > Investors > Vertex Ventures

Canaan Partners
96
Software Testing Tools > Investors > Canaan Partners

Pelion Venture Partners
97
Software Testing Tools > Investors > Pelion Venture Partners

98
Software Testing Tools > Investors > Charles River Ventures

99
Software Testing Tools > Investors > Insight Venture Partners

Rally Ventures
100
Software Testing Tools > Investors > Rally Ventures

Foundation Capital
101
Software Testing Tools > Investors > Foundation Capital

Chiratae Ventures
102
Software Testing Tools > Investors > Chiratae Ventures

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
103
Seed Stage
Early Stage
Late Stage

104
Software Testing Tools > Investors > Insight Venture Partners

OpenView
105
Software Testing Tools > Investors > OpenView

Accel Partners
106

FTV Capital
107
Software Testing Tools > Investors > FTV Capital

EQT Ventures
108
Software Testing Tools > Investors > EQT Ventures

IVP
109
Software Testing Tools > Investors > IVP

TCV
110
Software Testing Tools > Investors > TCV

M12
111
Software Testing Tools > Investors > M12

ORIX
112
Software Testing Tools > Investors > ORIX

113
Software Testing Tools > Investors > Triangle Peak Partners

Dragoneer Investment Group
114
Software Testing Tools > Investors > Dragoneer Investment Group

IGP
115
Software Testing Tools > Investors > IGP

Centerview Capital
116
Software Testing Tools > Investors > Centerview Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
117
Incubators
Other Notable Investors
Debt Investors

Software Testing Tools > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in Software Testing Tools; Q1 2014 - Q1 2019
Index of Ecosystem Investors
INCUBATOR
500 Startups (8 Investments)
Plug and Play Tech Center (3 Investments)
Techstars (2 Investments)
Y Combinator (2 Investments)
UpWest Labs (2 Investments)
DG Incubation (2 Investments)
Startup Sauna
SINE
Moller Ventures
Boost VC
Oasis 500
CyLon
Newark Venture Partners
Starta Ventures
OTHER NOTABLE INVESTORS
Kima Ventures (3 Investments)
Heavybit (2 Investments)
Wipro (2 Investments)
KMS Technology (2 Investments)
Salesforce
Goldman Sachs
Korea Investment Partners
IAngels
Modern Times Group
Mirae Asset
RippleWave Equity Advisors
Bpifrance
Credit Suisse
Wellington Management
Iconiq Capital
DEBT INVESTORS
Hercules Capital (2 Investments)
Macquarie Group
Silicon Valley Bank
Ardian
Adams Street Partners
Mercia Technologies

500 Startups
119
Software Testing Tools > Investors > 500 Startups
People
Investments
[Soonicorn] Bugcrowd (2012, San Francisco, $50M, Series C)
[Minicorn] Sentry (2011, San Francisco, $26.5M, Series B)
Open source bug tracking and crash reporting software
[Editor's Pick] AppOnboard (2016, Los Angeles, $50M, Series B)
Platform for A/B testing of applications
[Unicorn] Credit Karma (2007, San Francisco, $370M, Series D)
Aggregator of various consumer financial products.
[Unicorn] Intercom (2011, San Francisco, $241M, Series D)
Customer communication and Retention Platform
[Unicorn] Twilio (2007, San Francisco, $240M, Public)
Cloud Communications API provider
[Unicorn] Gitlab (2014, San Francisco, $166M, Series D)
Code collaboration tool
[Unicorn] Talkdesk (2011, San Francisco, $128M, Series B)
Browser based call center
[Soonicorn] Smule (2008, San Francisco, $176M, Series F)
Developer of social music creation and sharing apps
[Soonicorn] Udemy (2010, San Francisco, $173M, Series D)
Marketplace for online courses
[Soonicorn] Akulaku (2016, Pasig, $145M, Series C)
Mobile app which gives cardless installment payment
[Soonicorn] Flywire (2009, Boston, $137M, Series D)
Global money transfer in local currency
[Soonicorn] Breather (2012, Montreal, $120M, Series D)
On-demand Private Room Reservation
Top Exits
Christine Tsai
CEO
William Kasel
Portfolio Company
Founder
Mark Thomas
Co-Founder of 500
Startups Batch 6
company
Dave McClure
Founder, Partner
Feb 2019
Axway and API Fortress Help Enterprises Accelerate
Development Safely with Continuous API Testing, PR
Newswire
Feb 2019
Bugcrowd Named To Fast Company's Annual List Of The
World's Most Innovative Companies for 2019, PR
Newswire
Feb 2019
Arlo CIO Tejas Shah Joins Bugcrowd Advisory Board, PR
Newswire
Jan 2019
Skyscanner Keeps Travelers Safe with Bugcrowd Bug
Bounty Program, PR Newswire
Jan 2019
API Fortress Plug-in for Kong Allows Developers and QA
Testers to Record and Mock Live API Calls, PR Newswire
Dec 2018
API Fortress Releases New Tools for Developers and
Automation Engineers, DEVOPSdigest
Dec 2018
Bugcrowd insights find skills for cybersecurity
employability, Online Marketplaces
Dec 2018
API Fortress Adds New Features to Help Import from
Postman When Moving to Testing Automation, PR
Newswire
Little Eye Labs
(2012, Bangalore, $304k)
Acq by Facebook - Jan 2014
2
3
1 1
2013 2014 2015 2016 2017 2018
2
-
1
1
6
Undisclosed
Series C+
Series B
Series A
Seed7
1
1
1
-
US
Europe
Australia
India

Plug and Play Tech Center
120
Software Testing Tools > Investors > Plug and Play Tech Center
People
Investments
[Unicorn] Dropbox (2007, San Francisco, $607M, Public)
Cloud-based file sharing and synchronization software
[Unicorn] Guardant Health (2012, Redwood City, $550M, Series
E)
Cancer detection, care and treatment through Digital Sequencing
Technology
[Unicorn] N26 (2013, Berlin, $515M, Series D)
Mobile-first bank for retail customers.
[Unicorn] UiPath (2005, Bucharest, $448M, Series C)
Robotic process automation software
[Unicorn] Uptake (2014, Palo Alto, $252M, Series D)
Machine learning enabled predictive platform for multiple industries
[Unicorn] Sprinklr (2008, New York City, $239M, Series F)
Social Media Presence Management Platform
[Unicorn] PayPal (1998, San Jose, $225M, Public)
Internet payment services provider
[Unicorn] Lending Club (2006, San Francisco, $162M, Public)
P2P online lending marketplace
[Soonicorn] DataRobot (2012, Boston, $225M, Series D)
Automated machine learning platform for data science applications
[Soonicorn] Pony.ai (2016, San Francisco, $214M, Series A)
Developing autonomous driving technology platform
[Soonicorn] Pindrop Security (2011, Atlanta, $212M, Series D)
Call Center Security against Phone Fraud
[Soonicorn] Planet Labs (2010, San Francisco, $183M, Series C)
Microsatellites to maps the earth to provide universal access to
information
Top Exits
Saeed Amidi
Founder & CEO
Jojo Flores
Co-Founder & VP
Oct 2018
SmartBear Completes Acquisition of Zephyr,
DEVOPSdigest
Sep 2018 Zephyr 6.2 Released, DEVOPSdigest
Sep 2018
Zephyr 6.2 Accelerates Software Testing and Advances
Collaboration for Agile Teams, PR Newswire
Aug 2018
SmartBear acquires test management solution provider
Zephyr, sdtimes.com
May 2018
Former NSA Chief Lands Top B2B VC Funds For
Cybersecurity Startup, pymnts.com
May 2018 Cobalt.io Raises $5M in Series A Funding, FinSMEs
May 2018
Zephyr DevOps Advances Continuous Testing Agility for
Enterprise Clients, PR Newswire
Apr 2018
Zephyr Continues Momentum with Record Customer
Growth, New Product Release, PR Newswire
Feb 2018
Zephyr Appoints New Global Vice President of Marketing
to Support its Global Growth, PR Newswire
Feb 2018
Zephyr launches Exploratory Testing and Multi-JIRA
Configurations, expanding on its Agile and Continuous
Software Delivery solutions, PR Newswire
Zephyr
(2007, Fremont)
Acq by SmartBear - Aug 2018
1
2013 2014 2015 2016 2017 2018
2
-
-
1
-
Undisclosed
Series C+
Series B
Series A
Seed3
-
-
-
-
US

Techstars
121
Software Testing Tools > Investors > Techstars
People
Investments
[Soonicorn] Synack (2013, Menlo Park, $55.3M, Series C)
[Editor's Pick] Testlio (2012, Austin, $7.3M, Series A)
Platform for better app testing
[Unicorn] Twilio (2007, San Francisco, $240M, Public)
Cloud Communications API provider
[Soonicorn] ClassPass (2011, New York City, $308M, Series D)
Membership programs for fitness classes across multiple gyms
[Soonicorn] Remitly (2011, Seattle, $227M, Series D)
Cross-border money transfer using banking networks.
[Soonicorn] DataRobot (2012, Boston, $225M, Series D)
Automated machine learning platform for data science applications
[Soonicorn] Leanplum (2012, San Francisco, $145M, Series D)
Mobile A/B testing, personalization & analytics platform
[Soonicorn] DigitalOcean (2011, New York City, $134M, Series
B)
Cloud computing platform to build, deploy and scale cloud applications
[Soonicorn] Outreach (2013, Seattle, $125M, Series D)
SaaS based Lead Engagement Tools
[Soonicorn] Sphero (2010, Boulder, $108M, Series D)
Smartphone controlled robotic gaming toy for kids
[Soonicorn] Placester (2008, Cambridge, $101M, Series D)
Real Estate Marketing platform
[Soonicorn] Latch (2014, New York City, $96M, Series B)
Smart locks for homes, offices and apartment buildings
Top Exits
Sam Yagan
Co-Founder & General
Partner
Jeremy Fisher
Participant Founder
Jared Polis
Founder, Blue
Mountain
David Cohen
Co-Founder & Co-CEO
Brad Feld
Co-Founder & Partner
David Brown
Co-Founder & Co-CEO
David Tisch
Co-Founder and
Former Managing
Director, NYC
Oct 2018
DoD Awards Crowdsourced Security Contracts to
Bugcrowd, HackerOne, Synack, ExecutiveBiz
Oct 2018
Synack Awarded US Department of Defense
Crowdsourced Security Contract, PRWeb
Oct 2018
Leading Tech Companies Engage with US Government to
Protect America , PRWeb
Oct 2018
MoQuality nabs $2.5M seed funding to build AI-driven
app testing solutions that enhance end-user experiences,
PR Newswire
Oct 2018
As Cybercrime Surges, Synack’s Crowdsourced Security
Testing Platform Recognized for its Ability to Scale Up
Cyber Defense and Protect American Businesses, PRWeb
Sep 2018
Synack and the US Army Draft A New Generation of Cyber
Warriors, PRWeb
Jun 2018
Synack is the latest cybersecurity company to offer state
elections its services for free, TechCrunch
May 2018
SynAck ransomware uses Doppelgänging technique,
channelpostmea.com
Mar 2018
Pulse Labs helps voice app developers test how people
interact with their apps, YourStory Media
None
1 1
22
2
2013 2014 2015 2016 2017 2018
-
-
-
-
6
Undisclosed
Series C+
Series B
Series A
Seed6
-
-
-
-
US

Y Combinator
122
Software Testing Tools > Investors > Y Combinator

UpWest Labs
123
Software Testing Tools > Investors > UpWest Labs

Startup Sauna
124
Software Testing Tools > Investors > Startup Sauna

125
Software Testing Tools > Investors > Magma Venture Partners

Moller Ventures
126
Software Testing Tools > Investors > Moller Ventures

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
127
Incubators
Other Notable Investors
Debt Investors

Kima Ventures
128
Software Testing Tools > Investors > Kima Ventures

Heavybit
129
Software Testing Tools > Investors > Heavybit

Wipro
130
Software Testing Tools > Investors > Wipro

Salesforce
131
Software Testing Tools > Investors > Salesforce

Goldman Sachs
132
Software Testing Tools > Investors > Goldman Sachs

Tracxn - Software Testing Tools Startup Landscape

Tracxn - Software Testing Tools Startup Landscape

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