Total amount raised
$76.1 Millions
Latest funding date
11/01/2021
Location
Mabl has successfully secured funding from notable investors, including CRV and Google Ventures, through multiple funding rounds, with the latest Series C round closing on November 18, 2021. The company specializes in AI-powered test automation, offering a platform that integrates AI into every stage of the test automation lifecycle.
Keep reading to explore the intricacies of Mabl's fundraising journey and the investors backing this innovative platform.
What Is Mabl?
Mabl, founded on January 23, 2017, by Dan Belcher and Izzy Azeri, is headquartered in Boston, Massachusetts. The company operates in the software testing and automation industry, specializing in AI-powered test automation.
With a team of 101-250 employees, Mabl helps software development teams integrate automated end-to-end testing into their CI/CD development lifecycle. The platform's AI capabilities allow for the creation, execution, and maintenance of reliable tests, ensuring faster delivery of high-quality applications.
How Much Funding Has Mabl Raised?
- Series A
- Amount Raised: $10M
- Date: February 2018
- Lead Investors: CRV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and launch of Mabl's AI-powered test automation platform.
- Series B
- Amount Raised: $20M
- Date: September 2018
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale operations to meet growing demand.
- Venture Round
- Amount Raised: $6.1M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and support customer acquisition efforts.
- Series C
- Amount Raised: $40M
- Date: November 2021
- Lead Investors: Vista Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand global operations and accelerate the development of solutions to adjacent Quality Engineering challenges.
Total Amount Raised: $76.1M
Current Valuation: Not publicly disclosed
Key Investors
- Vista Equity Partners
- Details: Vista Equity Partners is a leading global investment firm with more than $81 billion in assets under management as of June 30, 2021. The firm focuses exclusively on enterprise software, data, and technology-enabled organizations.
- Investment Focus Areas: Enterprise software, data, technology-enabled businesses
- Notable Investments: Not publicly disclosed
- CRV
- Details: CRV is a venture capital firm that has been investing in early-stage technology companies for over 40 years. The firm has a history of backing successful startups in various sectors.
- Investment Focus Areas: Technology, software, consumer services
- Notable Investments: Not publicly disclosed
- Google Ventures (GV)
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. GV provides seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Not publicly disclosed
- Amplify Partners
- Details: Amplify Partners is a venture capital firm that invests in early-stage technology companies. The firm focuses on helping startups grow and scale their operations.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Presidio Ventures
- Details: Presidio Ventures is the venture capital arm of Sumitomo Corporation. The firm invests in early-stage technology companies and helps them expand their market reach.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Mabl?
Mabl's future is brimming with opportunities, driven by the increasing demand for intelligent test automation. With $40 million in Series C funding, the company is poised to expand its global operations and develop solutions to adjacent Quality Engineering challenges. This growth is supported by a doubling of their global Annual Recurring Revenue (ARR) and a robust customer base that includes industry leaders like Barracuda and jetBlue.
Future fundraising opportunities are likely as Mabl continues to attract more customers and expand its market reach. The company may also explore strategic acquisitions to enhance its technology and market position. However, challenges such as maintaining rapid growth and staying ahead of competitors in the fast-evolving test automation market will need to be navigated carefully.
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