SOURCE: SOASTA, Inc.

January 10, 2007 14:15 ET

SOASTA™ Closes Its Second Round of Funding of $2 Million

MOUNTAIN VIEW, CA -- (MARKET WIRE) -- January 10, 2007 --SOASTA, Inc., revolutionizing the way organizations test and certify web applications and services, today announced that it has secured $2 million in funding. The round was led by Canaan Partners with additional participation and support from private investors. The infusion will be used to accelerate the company's rapid growth and further product development.

The new round of funding is the next step in the company's strategy to bring its automated web testing service to market this quarter. Using its initial round of funding, SOASTA was able to complete development of its beta release for its flagship web testing service, SOASTA Concerto.

"Web applications and services are currently very difficult to test," said Ken Gardner, founder and executive chairman, SOASTA. "Our goal is simple: we're championing a new paradigm in web testing with an easy to use, collaborative and visual testing solution. We are pleased to have the support of our investors as we continue to deliver on our mission of simplifying the testing of today's complex web applications."

"SOASTA has brought together some of the best minds from the visual computing arena who have created innovative, award-winning products," said John Balen, general partner, Canaan Partners. "SOASTA Concerto is highly distinctive, addresses critical unmet needs in SOA testing, and offers significant value for customers. We continue to be excited by the opportunity this group will have to make an impact on the next generation of SOA testing."

About Canaan Partners

Canaan Partners is an early stage venture investor. The firm catalyzes the development of innovative technology and healthcare companies to build next-generation market leaders. Founded in 1987, Canaan Partners has $2.4 billion capital under management and has invested in more than 232 companies, completed 60 mergers and acquisitions, and brought over 50 companies public. Canaan invests in Internet and consumer technology, communications, semiconductor and energy, enterprise software and services, biotechnology, and medtech. Canaan was an early investor in DoubleClick (DCLK), CommerceOne (CMRC), Copper Mountain Networks (CMTN), Immunicon (IMMC), ONI Systems (ONIS), Dexcom (DXCM) and Combinatorx (CRXX), along with dozens of other market-leading companies. Canaan has offices in Menlo Park, California; Rowayton, Connecticut; Gurgaon, India; and Herzliya Pituach, Israel. For more information visit: www.canaan.com.

About SOASTA, Inc.

SOASTA, (pronounced sō'-sta), is a privately held technology company focused on developing a visual software service for the testing, certification and demonstration of SOA-based systems. The company's product line allows business users, business analysts, QA engineers, sales engineers, consultants, and developers to quickly and easily test and certify new web services, business processes and applications. SOASTA is headquartered in Mountain View, California. To learn more about SOASTA and its product offerings, please write to info@soasta.com.

©SOASTA, Inc. 2006. SOASTA is a trademark of SOASTA, Inc. All other trademarks are the property of their respective owners.

Contact Information

  • Editorial Contact:
    Lisa Bergamo
    SOASTA, Inc.
    P: 650.210.4942
    C: 650.380.9250
    Email Contact