QA Testing Platform ProdPerfect Lifts $13M By Anthos Capital

ProdPerfect, a SaaS QA testing platform, has raised another $13 million in its recent Series A funding. California's venture capital firm Anthos Capital, led the latest funding round. ProdPerfect founders are planning to use this new investment's huge amount in product development and customer services. 

In early 2019, ProdPerfect had collected $2.6 million Seed funds from American venture capital firms Eniac Ventures and Fika Ventures. ProdPerfect has received approximately $15.7 million funds to date and achieved a mark of standard revenue metric for modern software (SaaS) companies by setting up its annual recurring revenue (ARR) of around $2 million.

ProdPerfect was developed by a project consultant and marketing lead named Erik Fogg and the duo software engineers Daniel Widing and Wilson Funkhouser, in early 2018. It is an automated platform that uses live traffic to run, build, and maintain quality assurance (QA) testing for web applications.

It analyzes internet traffic to create aggregated flows of everyday user actions, which ProdPerfect builds into an end-to-end testing suite that is maintained and expanded with time. This suite also automatically clear Continuous Integration (CI).

ProdPerfect was headquartered in Boston, but it shifted to San Francisco in early 2019. The company has 50 promising customers with remarkable ARR. The co-founder Daniel Widing said that ProdPerfect did not focus on the relocation much, as it views itself as "a remote-first company."

The budding firm seems to expand its revenue quickly in the market with a strategic game plan. It wishes to spend significant capital in sales and marketing. According to Daniel, this move will help in raising stocks of the startup. As the ARR figure provided by the firm will help in growth to build investors' trust. The firm will probably aim to expand the ARR from $2.6 million to approximately threefold by the end of 2020.