Zephyr, a Newark, Calif.-based provider of on-demand enterprise test management solutions, raised $31m in funding.
Frontier Capital, a Charlotte-based growth equity firm focused on software and technology-enabled business services companies, made the investment.
In conjunction with the operation, Frontier Capital Partner Joel Lanik will join the Zephyr board of directors along with Principal Scott Hoch.
The fund will be used to fund key growth initiatives for the company like enhancing the product portfolio and scaling sales and marketing capabilities.
Founder and CEO Samir Shah, Zephyr provides real-time, on-demand enterprise test management solutions which give real-time visibility into the quality and status of software development projects. The products are sold directly to the enterprise and through the Atlassian Marketplace.
The company, which has additional operations in London and Bangalore, currently serves more than 8,500 customers in over 100 countries across a variety of industries including finance, healthcare, media, automotive, IT services and enterprise software. The list includes LG Electronics, Adobe, HSBC, Honda, Oracle, Citibank, Amex, GE, Starz and Hyundai.
FinSMEs
11/05/2016