Although software development frameworks make software faster and easier than ever, pre-deployment testing becomes more and more complex per day. Over the past decade, Teslio It has grown exponentially and has established itself as an Elance for Software Testing. In addition to its own team of 150 or more, the company now orders 10,000+ certified freelancers in 150 countries around the world. The revenue collection cycle allows the company to double its own software platform for software testing management and further increase sales and operations.
“We work with companies that produce digital products. It includes companies Amazon, American Express, Fox, Microsoft, Netflix, NBA, SAP, ViacomCBS and many more. We A.D. Steve Semeselberger, who joined Tesestone as CEO of Teslion in 2018, we work with some really big companies and we are a big part of their quality organization. They may have recently developed a series of cycles and are looking to improve their testing and quality capabilities.
The company announced today that it has closed its $ 12 million market capitalization Financing. The round was led. Spring Lake Equity Partners And over-registered. Includes participation from Serie A co-leaders Altos Ventures and Vertex Ventures US. Along with the round, Jeff Williams, partner of S Spring Lake Equity Partners, joins Testlio’s Board of Directors.
The company did not make an exact estimate, but Semeselberger estimates the value of Series B is $ 100 million north.
“We have been profitable for 10 quarters and have received 75% of our cash from the Seri round,” explains Semeselsberger. “a lot of Series B rounds are huge now, and I consider the $ 12 million round to be relatively small. The strategy here is to reduce the total capital in the company to less than the revenue stream. It’s a fun way to look at fundraising. But we think This series B can take us, perhaps as far as we need to go.
Testlio has already collected more than $ 20 million in annual revenue after this year $ 7.5 million in seed and Series A capital. The company has increased its revenue by 50% and its employees are close to 100% per annum.
He said the company is looking for a more impactful approach to software testing with unprecedented digital technologies and pressure to accelerate the growth of production and engineering teams and provide unique user experiences.
As part of its fundraising efforts, the company paid exorbitant fees to its existing employees.
“Twenty-five percent of the turnover goes – or has already gone – to our employees. We have decided to allow anyone who has been with us for more than three years to sell a certain portion,” said Semelsberger. Distributing fairness to existing employees can be a smart investment as a recruitment tool. ”The idea comes from experience. What most of us have experienced, sometimes it takes time for a company – especially a company like ours – to reach liquidity. The way we do this is that employees who have been with us for more than three years can sell up to 19 percent of their options. The idea is that this will reward those who have been here for a while and also show that the fairness of the others that Teslion has joined is truly valuable.
In addition to hiring and building a sales organization, the company plans to invest in its own platform designed to make it easier to manage and copy complex testing processes. The platform is a SaaS solution that enables Testlio customers to experience advanced and efficient testing experiences in an “optimal human-machine mix”.
“We have built a test management platform. Today, our platform team consists of about 50 people, including product managers, product designers, designers, engineers, AI, ML, data scientists, and so on, ”said Semelsberger. “That team has created a system that automatically manages the testing process.”
“Testlio is exactly the kind of company that prefers to work with Spring Lake Equity Partners.” Jeff Williams, Partner of the Spring Lake Equity Partners. “We have been impressed with the Testlio team over the past two years and we are proud to know it and to be proud of what lies ahead.”