Test automation co QualiSystems raises NIS 9m

Evergreen and Gemini led the investment, joined by Fishman Holdings, Altshuler Shaham, and Strauss Investments.

Test automation and lab management company QualiSystems Ltd. has raised NIS 9 million from its current investors, led by Evergreen Venture Partners and Gemini Israel Funds, and joined by Fishman Holdings, Altshuler Shaham Ltd., and Strauss Investments Ltd.

QualiSystems has raised NIS 31 million in the past two years, after raising $12 million in 2005-07. It has raised $24 million since it was founded in 2003. Its CEO is Lior Koriat, and its honorary president is Mercury Interactive founder Aryeh Finegold. The company develops test automation and laboratory management systems for hardware-based components, with a focus on computer infrastructures for server farms and data centers.

In a statement today, QualiSystems said that the investment was based on its 50% revenue growth and number of customers in 2012. It will use the proceeds to expand its operations in the US and enterprise data center solutions. Koriat said, "The expansion into data centers is based on the strong growth of this market, which is accompanied by constantly growing investment."

Published by Globes [online], Israel business news - www.globes-online.com - on October 14, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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