Israeli mobile app testing company Perfecto Mobile has raised a $35 million investment from new investor Technology Crossover Ventures (TCV), with participation from existing investors FTV Capital, Carmel Ventures, Globespan Capital Partners and Vertex Ventures. The financing will allow Perfecto to expand product offerings, which address the need for enterprises to continuously test and monitor their mobile and digital user experiences on real devices under real end-user conditions.
Founded in 2006 by CEO Eran Yariv, CTO Yoram Mizrahi and Jacky Allal, the company is headquartered in Woburn, Massachusetts with its R&D offices in Rosh Ha'ayin. Perfecto Mobile has raised $90 million to date including the latest financing round. The company has 230 employees of whom 100 are in Israel. Market sources believe that the company already has tens of millions of dollars in annual revenue but is not yet profitable.
Yaniv said, “Customers now expect and depend on high-quality digital experiences when interacting with brands via the Web, mobile apps and IoT devices. Perfecto has developed leading solutions that help enterprises deliver high-quality digital experiences via our Continuous Quality Lab. I am excited about the partnership with TCV and look forward to working together to grow Perfecto’s global presence, expand our quality offerings and position Perfecto for continued growth and innovation.”
TCV principal John Doran said, “Increasingly, digital engagement is the way brands directly interact with customers, and as a result, those interactions are having a significantly greater impact on business success. As the pressure to meet customer expectations rises, so does ensuring the quality of each digital experience, especially across mobile channels. With Perfecto’s strong leadership, cloud-based technology and market vision for superior digital and mobile engagement, we believe the company will achieve breakout growth in the quality market.”
Perfecto Mobile has more than 1,500 customers, including 50% of the Fortune 500 across the banking, insurance, retail, telecommunications and media industries. They rely on Perfecto to deliver optimal mobile app functionality and end user experiences, ensuring their brand’s reputation, establishing loyal customers, and continually attracting new users.
Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2015
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