Unicorns
Scoop: App-testing specialist HeadSpin seeks unicorn valuation in new round
November 15, 2019
Mobile app-testing startup HeadSpin is raising a fresh round of funding that would value the company at up to $1.2 billion, according to a regulatory filing reviewed by PitchBook.
That would more than double the valuation that HeadSpin received in a funding round last year.
Final terms and details of the Series C financing haven't been announced and are subject to change, but the filing indicates the deal would raise as much as $75 million. Representatives of HeadSpin, based in Palo Alto, didn't immediately respond to a request for comment.
Backed by investors including Battery Ventures, GV and Iconiq Capital, HeadSpin's valuation leaped to $510 million in a round last year. The company has previously raised an estimated $31 million since it was founded in 2015.
Customers of HeadSpin use its technology to test and monitor apps in real time to shorten their product-release cycles. The company has listed Tinder, DocuSign, Pinterest and Airbnb among its customers.
Co-founder and CEO Manish Lachwani previously co-founded Appurify, a platform for software developers to test apps and websites. Google acquired Appurify in 2014.
HeadSpin's advisory board consists of business-software veterans Cloudera CEO Tom Reilly, AppDynamics founder Jyoti Bansal, and BV Jagadeesh, founder of Exodus and NetScaler.
Other players in the app-testing industry include Amazon's AWS Device Farm and Google's Test Lab, which both focus on automated performance tests.
Featured image via Unsplash.
That would more than double the valuation that HeadSpin received in a funding round last year.
Final terms and details of the Series C financing haven't been announced and are subject to change, but the filing indicates the deal would raise as much as $75 million. Representatives of HeadSpin, based in Palo Alto, didn't immediately respond to a request for comment.
Backed by investors including Battery Ventures, GV and Iconiq Capital, HeadSpin's valuation leaped to $510 million in a round last year. The company has previously raised an estimated $31 million since it was founded in 2015.
Customers of HeadSpin use its technology to test and monitor apps in real time to shorten their product-release cycles. The company has listed Tinder, DocuSign, Pinterest and Airbnb among its customers.
Co-founder and CEO Manish Lachwani previously co-founded Appurify, a platform for software developers to test apps and websites. Google acquired Appurify in 2014.
HeadSpin's advisory board consists of business-software veterans Cloudera CEO Tom Reilly, AppDynamics founder Jyoti Bansal, and BV Jagadeesh, founder of Exodus and NetScaler.
Other players in the app-testing industry include Amazon's AWS Device Farm and Google's Test Lab, which both focus on automated performance tests.
Featured image via Unsplash.
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