Testlio Raises $12 Million in Series B  

by Kay Aloha Villamor in November 1st, 2021

Testlio, an Austin-based that tests software for some of the biggest digital companies in the world, raised $12 million in Series B financing to grow its networked testing capabilities and its sales presence.

The oversubscribed round was led by Spring Lake Equity Partners, with participation from Series A co-leads Altos Ventures and Vertex Ventures US. 

The fresh funding will be used to expand client services, deepen platform capabilities, fuel brand awareness, and expand its sales footprint to new territories. The funding round also included secondary proceeds for veteran Testlio employees at all levels.

Company: Testlio Inc.

Raised: $12.0M

Round: Series B

Funding Month: October 2021

Lead Investors: Spring Lake Equity Partners

Additional Investors: Altos Ventures and Vertex Ventures US

Company Website: http://testlio.com/

Software Category: Testers and an end-to-end QA management platform

About the Company: Testlio is the originator of networked testing, a testing management platform, a global network of expert testers, and robust client services power burstable software testing. In any location. On any device. In any language. Testlio clients include American Express, CBS, Microsoft, the NBA, Netflix, and SAP. Collectively, they have awarded us an industry-leading 4.7 G2 rating and an NPS of 75. Testlio has increased its workforce by 100 percent year over year, with a current headcount of 158 full-time employees. The company expects to grow its headcount by another 79 employees in 2022. The company is currently hiring for more than 30 full-time positions.

Source: https://www.builtinaustin.com/2021/10/26/testlio-raises-12m-networked-software-testing-austin-hiring



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