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Perfecto Mobile Raises $20 Million in Growth Equity Funding to Accelerate Cloud-Based Mobile Application Quality Services
|By Business Wire
|May 7, 2014 02:00 AM EDT
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
“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,
Monitoring™ and MobileCloud
Express™ further expand its capabilities and offerings for its
customers. For more information about Perfecto Mobile, visit www.perfectomobile.com.
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.
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
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.
For more information on how Perfecto Mobile can help you confidently
test, deploy and monitor your mobile applications, visit www.perfectomobile.com
and follow us on Twitter: @PerfectoMobile.
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