Perfecto Mobile Raises $20 Million in Growth Equity Funding to Accelerate Cloud-Based Mobile Application Quality Services
This investment signifies the emergence of mobile application quality as a rapidly growing and critical space and validates Perfecto Mobile’s leadership position in this market
May 7 2014, Boston, MA – Perfecto Mobile, provider of the MobileCloud™ Platform and integrated mobile application quality suite, today announced it has raised a $20 million growth equity investment from new investor FTV Capital, with continued participation from existing investors Carmel, Vertex and Globespan Capital Partners. The latest capital infusion will be used to further fuel Perfecto Mobile’s record growth and continued market leadership in the rapidly emerging mobile application quality space.
“Perfecto Mobile’s strong leadership and executive vision coupled with its innovative technology has enabled it to become the de facto leader in the growing $9 billion mobile app quality market,” said Liron Gitig, FTV Capital partner and new Perfecto Mobile board member. “Many of the world’s leading financial institutions in FTV’s Global Partner Network validated the immense pain point that mobile application quality has become and confirmed the significance of Perfecto Mobile’s solution and leadership position. We are excited to partner with Perfecto Mobile in this next phase of development and growth.”
Coming off the Company’s most successful quarter and fourth consecutive year of over 100 percent revenue growth, Perfecto Mobile has reached a number of recent milestones. More than 100 Fortune 1000 enterprise customers have selected Perfecto Mobile as their solution to deliver quality mobile applications, spanning the financial, healthcare, retail and travel industries, and including leading brands Weight Watchers, CA, Cigna, EMC and Prudential. In addition, Perfecto Mobile has extended its reach with full support to the LATAM, APAC and EU markets.
“The need for a mobile app quality strategy is imperative because most enterprises’ reputations today are highly dependent on effective mobile apps,” said Melinda-Carol Ballou, Program Director, Application Life-Cycle Management & Executive Strategies, IDC. “This need is creating a fast-growing market for solutions that directly address mobile app quality. The goal of speeding up app delivery without compromising quality across today’s wide range of dynamically changing devices requires mobile app quality platforms that enable distributed teams to share real devices, run cross-platform automated tests and integrate into their existing SDLC tools and workflow, like Perfecto Mobile's approach.”
“The mobile app market is booming as consumers and enterprise employees depend on high-quality, transactional mobile apps to optimize business performance, increase productivity and better their lives,” said Eran Yaniv, CEO of Perfecto Mobile. “First impressions are critical for the success of these apps and companies are focusing on quality from the beginning to ensure a great user experience. Perfecto Mobile is proven to be essential in helping our customers and partners surpass their end users’ quality expectations. Our growth, combined with the support of our new and existing investors, solidifies our SaaS-based value proposition and the leadership that we bring to the market. With the rising importance of distributed application development teams and DevOps, Perfecto Mobile will significantly enhance its cloud offering with new services and capabilities to address emerging needs as well as expand sales and marketing activity on a global scale.”
Perfecto Mobile continues to solidify its position in this market with its growing global partner ecosystem which includes today’s top technology leaders, prominent Global System Integrators, and emerging growth partners. The company’s recent introduction of several significant upgrades to its leading mobile application quality suite, including MobileCloud Performance™, MobileCloud Monitoring™ and MobileCloud Express™ further expand its capabilities and offerings for its customers. For more information about Perfecto Mobile, visit www.perfectomobile.com.
About Perfecto Mobile
Perfecto Mobile is transforming the way enterprise organizations go mobile, enabling them to develop, test, deploy and monitor their mobile applications and services and go-to-market with confidence. Perfecto Mobile’s cloud-based MobileCloud™ Platform and end-to-end mobile quality product suite enables users to remotely access a large selection of real mobile devices connected to local cellular networks around the world and leverage them throughout the mobile application delivery lifecycle – from development, functional and performance testing to monitoring and support. The MobileCloud™ is available either in an enterprise private cloud or a sharable public cloud environment.
More than 1,000 customers, including the top Fortune 100/500 across the banking, insurance, retail, telecommunications and media industries rely on Perfecto Mobile to optimize mobile time-to-market, customer engagement, risk mitigation and costs and continuously serve their mobile users with confidence.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised over $1.8 billion since inception to invest in high-growth companies offering a range of innovative solutions in four sectors: business services, financial services, payments/transaction processing and technology. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for more than a decade. Founded in 1998, FTV Capital has invested in 82 portfolio companies and has offices in San Francisco and New York. For more information, please visit www.ftvcapital.com.