Cloud LaboruTest, the crowdsourcing software testing company announces today that it has just raised a massive $17 million of funding – one of the largest investments made in a company based on a crowdsourcing model. The Series D funding round was led by QuestMark Partners with full participation from all of uTest’s previous investors, including Scale Venture Partners, Longworth Venture Partners, Egan-Managed Capital and Mesco Ltd.
This latest round brings the company’s total funding to more than $37 million and uTest has seen its valuation more than double since its last round of funding in September of last year. Revenue has been increasing 250% year over year since 2008 and the customer base includes global brands such as Google, Microsoft, Groupon, AOL and the BBC as well as high-growth innovators like Trulia, Tapulous, Bump and Billguard.
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