BlazeMeter Secures $6.5 Million in Financing Led By YL Ventures
San Francisco, Calif. – May 13, 2014 – BlazeMeter, provider of the JMeter-based performance testing cloud, today announced that it has secured $6.5 million in series A financing. The financing round was led by previous investor, YL Ventures and joined by Glilot Capital Partners. The new funding will be used to further develop BlazeMeter’s mobile testing platform and establish leadership in the mobile testing market for application performance. It will also be used to help grow BlazeMeter’s business in North America by establishing its U.S. headquarters in the San Francisco Bay Area.
“We are excited to engage with BlazeMeter at this stage in the company’s development,” said Yoav Andrew Leitersdorf, managing partner, YL Ventures. “BlazeMeter’s performance testing technology is a proven solution that has shown success time and time again with more than 500,000 tests conducted over 50,000 users since its launch. It brings new levels of ease of use to market for developers, which has contributed to its continued growth among Fortune 100 customers, and is something we look forward to helping the company expand. ”
“We are moving toward a continuous deployment model, and since performance escalating is a huge concern for a business like ours, we have to do performance tests when we release certain components of our system,” said Spencer Greene, vice president engineering, Ticketfly. “And, if you want to have that be fully automated, we must use BlazeMeter to do an automated performance test with a structured result that we can use to validate that the software performance is there before we push it to production.”
BlazeMeter provides a single, cloud-based platform for all performance testing needs throughout an application’s lifecycle – from early development to production performance testing and post-production monitoring. YL Ventures and Glilot Captial Partners both support BlazeMeter’s vision for bringing simple scalability to Web and mobile app development and testing. BlazeMeter already enables companies to run tests in minutes scaling from 1,000 to more than 1,000,000 concurrent users across multiple geographic locations, all without the burden of building a full performance testing infrastructure.
“Application development is my passion,” said Alon Girmonsky, founder and CEO, BlazeMeter. “I consider creating tools that will simplify the application development and testing processes for developers as BlazeMeter’s mission. Our user base has grown six fold over the past 12 months and this is attributed to the increasing demand for mobile performance testing. The new funding will enable BlazeMeter to release many new features that will make this testing process even easier and more agile.”
“We are proud to join the BlazeMeter team,” said Kobi Samboursky, managing partner, Glilot Capital Partners. “BlazeMeter has developed an excellent SaaS platform that is relied upon by an impressive portfolio of corporate customers from a wide range of markets and applications. We strongly believe in the company and its management and look forward to contributing to the company's continued growth.”
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BlazeMeter is a self-service, Web and mobile performance testing platform provider, offering developers an enterprise-grade, turnkey performance testing solution that is 100 percent compatible with Apache JMeter™. It is the performance testing platform of choice for more than 15,000 customers at companies, including Citi, Nike, Walmart, Thomson Reuters, Adobe, Disney, Cubic Corporation, KGM Gaming, Pfizer and many more. BlazeMeter can run multiple performance tests that easily simulate scalability from 50 to more than 1,000,000 concurrent users from both public clouds or inside the corporate firewall. It significantly simplifies the performance testing process by providing developers with easy integration into their native development environment, unlimited on-demand performance testing capacity, sophisticated results analysis and distributed testing across multiple geographic locations. For more information, please visit www.blazemeter.com, our blog or find us on Twitter @BlazeMeter and LinkedIn.
About YL Ventures
YL Ventures (www.YLVentures.com) is a global venture capital firm that was founded to address the changing venture capital financing landscape. The firm invests in cyber security, cloud computing, big data and Software-as-a-Service software companies, with particular focus on the Israeli market. Currently investing out of its $27.5 million second fund, YL Ventures accelerate the evolution of portfolio companies via strategic advice and Silicon Valley-based operational execution.
About Glilot Capital Partners
Glilot Capital Partners offers seed and early stage investments as well as the support, guidance and network of contacts of its experienced principals; accelerating the success of promising Israeli startups in the areas of software, cyber and IT security, Internet, and mobile applications. For more information, please visit www.glilotcapital.com or visit Glilot on Facebook.
Meredith L. Eaton