Total amount raised
$154 Millions
Latest funding date
3/1/2019
Location
Sauce Labs has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers comprehensive solutions for software quality assurance, leveraging AI-driven insights to power mobile and web applications at scale.
Keep reading to explore the intricacies of Sauce Labs' fundraising journey and the investors backing this innovative platform.
What Is Sauce Labs?
Sauce Labs, founded in 2008, is headquartered in San Francisco, California. The company was established by Al Sargent, Jason Huggins, John Dunham, and Steven Hazel.
Specializing in cloud-based testing for mobile and web applications, Sauce Labs offers a platform that ensures applications function correctly across various browsers, operating systems, and devices. Their services include mobile app testing, web app testing, visual testing, and error reporting.
With a workforce of 501-1000 employees, Sauce Labs continues to innovate in the field of software quality assurance, leveraging AI-driven insights to enhance user experience and application performance.
How Much Funding Has Sauce Labs Raised?
- Series A
- Amount Raised: $7M
- Date: July 2009
- Lead Investors: The Contrarian Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and accelerate initial growth.
- Series B
- Amount Raised: $4M
- Date: August 2012
- Lead Investors: Triage Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance platform capabilities.
- Series C
- Amount Raised: $5M
- Date: July 2013
- Lead Investors: Toba Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Series D
- Amount Raised: $15M
- Date: February 2015
- Lead Investors: Toba Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and support rapid growth.
- Venture Round
- Amount Raised: $70M
- Date: November 2016
- Lead Investors: Adams Street Partners, Centerview Capital, IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product innovation and expand market reach.
- Venture Round
- Amount Raised: $50M
- Date: March 2019
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives and technological advancements.
- Venture Round
- Amount Raised: -
- Date: March 2021
- Lead Investors: TPG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support growth and expansion efforts.
- Venture Round
- Amount Raised: -
- Date: June 2022
- Lead Investors: TPG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth strategy and enhance market leadership.
Total Amount Raised: $151M
Current Valuation: Not publicly disclosed
Key Investors
- TPG
- Details: TPG is a global alternative asset management firm founded in 1992. It manages $120 billion in assets with investment and operational teams in 12 offices globally.
- Investment Focus Areas: Private equity, growth equity, real estate, public equity.
- Notable Investments: Airbnb, Uber, Spotify.
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that invests in high-growth technology companies. The firm focuses on both private and public companies globally.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: GoPro, Nutanix, Globant.
- Adams Street Partners
- Details: Adams Street Partners is a global private markets investment manager. The firm has been investing in private equity since 1972.
- Investment Focus Areas: Private equity, venture capital, growth equity.
- Notable Investments: DocuSign, Magic Leap, BigCommerce.
- Centerview Capital
- Details: Centerview Capital is a private equity firm that focuses on investments in the consumer and technology sectors. The firm was founded in 2006.
- Investment Focus Areas: Consumer, technology, healthcare.
- Notable Investments: Nielsen, Advantage Solutions, Richelieu Foods.
- IVP
- Details: IVP (Institutional Venture Partners) is a later-stage venture capital and growth equity firm. Founded in 1980, IVP has invested in over 400 companies.
- Investment Focus Areas: Technology, internet, digital media.
- Notable Investments: Twitter, Slack, Snap.
What's Next for Sauce Labs?
With the additional investment from TPG, Sauce Labs is poised to expand its capabilities and further its market leadership. The opportunities for growth are substantial, particularly in enhancing continuous testing and error reporting solutions. This expansion aligns with industry trends that emphasize the need for faster code delivery without compromising quality.
Future fundraising opportunities seem promising, given the ongoing support from TPG. However, challenges such as maintaining high-quality standards and staying ahead of competitors remain. As Sauce Labs continues to innovate, the company must navigate these hurdles to sustain its growth trajectory.
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