Today MassVentures announced its continued investment in uTest as part of a $43 million Series E round of funding led by Goldman Sachs. This latest round brings the company’s total funding to more than $80 million since its founding in 2007.
The funding follows a recent announcement that uTest is rebranding to ‘Applause’ to reflect an expanded vision. Now, with the investment, the company plans to expand its offering to bring 360 degree app quality to brands around the world, expand its in-the-wild testing, grow its distribution channels, broaden the uTest community and consider M&A to help build out its offerings.
“From the beginning, it’s been exciting to watch a young Massachusetts-based startup create game-changing business model and become one of the dominant players in the app testing market,” said Jerry Bird, President, MassVentures. “The additional investment from Goldman Sachs and the continued support of other partners confirms Doron’s vision and our investment, and supports uTest/Applause as it continues to scale and meet the ever-increasing demands of app developers and end users.”
For more details on the announcement, read Doron Reuveni’s blog post here.
Our Investment Focus
MassVentures is a venture capital firm focused on fueling the Massachusetts innovation economy by funding early-stage, high-growth Massachusetts startups as they move from concept to commercialization.
MassVentures focuses on Series A investments and considers occasional and opportunistic seed rounds. We provide capital for first-time CEOs and/or founders and consider industry segments not adequately served by the venture community.
Our track record of success combined with our expertise, contacts and support for entrepreneurs makes MassVentures an attractive venture partner for early-stage companies in Massachusetts.
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