uTest, best known for its considerable capability as an app testing company which uses an ‘in-the-wild’ community of testers to kick the tyres on apps, today announces that it’s closed a $43 million Series E round of funding, led by Goldman Sachs. With that war chest it plans to expand its offering and go on an acquisition spree. This brings its funding-to-date to more than $80 million. The Boston-based company has already announced it will be re-branding the name of its main product, Applause.
“In-the-wild testing has become a critical part of launching great digital experiences… Funding on this scale, and from a leader like Goldman Sachs, will help us broaden these services, and incorporate tools that enable companies to achieve 360° app quality,” said uTest CEO Doron Reuveni in a statement. “We’re positioned for a massive market opportunity, and to extend our lead as the one-stop solution for modern app quality.”
In a phone interview he also confirmed that the company would, with this latest funding, move to ramp up M&A.
The company next plans expansion of its in-the-wild testing services. This facility was, to some extent, a stroke of genius. It immediately made the company scale much faster than its competitors. This, combined with its app store analytics and its proprietary tools means that uTest/Applause has now become one of the dominant players in app testing and now with this funding ensures that it is probably on its way to rolling up the competition as well.
Other plans include targeting major brands with its products, growing distribution channels, and move into training, certifications, test tool reviews, career advice, job boards and events.
The round had full participation from all of uTest’s previous investors, including QuestMark Partners, Scale Venture Partners, Longworth Venture Partners, Mass Ventures, Egan-Managed Capital and Mesco Ltd. The company’s previous round of funding was a $17 Million Series D round in December 2011. As part of the Series E investment, David Campbell, Goldman Sachs’ Managing Director, Merchant Banking Division will join the uTest Board of Directors.