London software testing news UK


Coverity Raises $22M for Software Testing

Posted in Acceptance testing by testing in London on February 23, 2008

From Red Herring

Coverity, a five-year-old, privately-held firm that markets products that analyse and test the integrity and security of software, on Tuesday said it took $22 million in its first funding round. This is an unusually hefty round for a firm that markets software tools used by developers rather than customer-facing application software more easily understood by corporate decision makers and venture investors.

The rapid emergence of the web as a marketplace and the popularity of open-source software have placed immense pressure on software creators to write programs that can withstand the stresses of rapidly changing environments and upgrade cycles.Coverity will use its cash infusion from Foundation Capital and Benchmark Capital to acquire other firms in related disciplines, to extend its technology reach, and to augment its internal product development capabilities.

Coverity also announced a new board of directors which includes a number of senior executives from  development and software testing companies such as Mercury Interactive, Cadence and Pure Software.

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