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Cloud Computing Gathers Steam with $6.4M Round for SOASTA




SOASTA, the leading provider of cloud-based testing solutions, today announced the successful close of $6.4 million in Series B funding. New investor, Formative Ventures, a leading early-stage venture capital firm focused on next-generation emerging technologies, led the round with continuing participation from previous investors including Canaan Partners and The Entrepreneurs’ Fund. The new funding will be used to support product enhancements, marketing, and business development efforts to address the growing demand for SOASTA’s web testing solution for Cloud Computing environments.

SOASTA also announced that Clint Chao, co-founder and general partner at Formative Ventures, has been elected to the company’s board, joining Canaan Partners and The Entrepreneur’s Fund.

“We’re always on the lookout for promising companies that provide a critical missing link that can serve as a catalyst for market growth,” said Clint Chao, general partner, Formative Ventures. “In SOASTA, we found a fast growing company that helps enterprises more readily and comfortably move their data onto cloud networks. SOASTA’s ‘reliability-as-a-service’ solution enables companies to easily test the performance and scale of their platform, whether they’re hosted behind a firewall, or out on one of the cloud networks, and that should further accelerate cloud market adoption.”
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