Market and Growth Opportunity
“MassVentures has not only participated in all of our financing rounds but was instrumental in creating access to additional funding.”
-Doron Reuveni, CEO uTest
Back in 2007, Doron Reuveni and Roy Solomon set out to revolutionize software testing across the world. This may sound a bit ambitious, but it’s true and they are well on their way to meeting their goal. Applause (formerly uTest) utilizes a global community of software testing professionals to test web, desktop and mobile applications – not just functional testing but security, localization, load and usability testing.
When Doron and Roy thought about reinventing how testing was done, they knew their idea was big and so was the market. They almost immediately set out for funding to develop the technology platform and support their unique go-to-market strategy.
As a Massachusetts-based company, Doron learned of MassVentures (then MTDC) as a supporter of early-stage, growth companies. “Immediately it was easy to start a dialogue with the MassVentures team,” comments Doron. “They asked intelligent questions, helped mature our business model over time and presented a well-structured, transparent process to obtain funding. Within a few short meetings, we received our initial funding from MassVentures.”
As the company started to gain momentum, additional funding was required to scale their team and technology. “MassVentures has not only participated in all of our financing rounds but was instrumental in creating access to additional funding. Our B round was led by VCs both locally and outside the state, but at the end of the day, it was MassVentures that created the introductions.”
Results for Applause
Applause is now a global company with more than 1,000 customers and 60,000 professional testers in 190 countries. They have expanded their workforce from 2 to 110 people – 80 of them in Massachusetts. “Our objective is to build a big Massachusetts-headquartered company and hopefully go public in the next few years. It’s been a very supportive, productive relationship working with Jerry Bird and the MassVentures’ team,” concludes Doron.
Benefits of working with MassVentures:
- Helped navigate funding process to receive $37 million in total funding
- Provided early-stage connections to entrepreneurs, the community and financing
- Supportive, helpful relationship
- Established itself with plans to grow and stay in Massachusetts
Launched in 2008 as uTest, Applause is leading the app quality revolution by enabling companies to deliver digital experiences that win – from web to mobile to wearables and beyond. By combining in-the-wild testing services, software tools and analytics, Applause helps companies achieve the 360° app quality they need to thrive in the modern apps economy. Thousands of companies – including Google, Fox, Amazon, Box, Concur and Runkeeper – choose Applause to launch apps that delight their users.
Thousands of companies – from startups to industry-leading brands – rely on uTest as a critical component of their testing processes for fast, reliable and effective testing results.