January 17, 2010
Few topics are as hot in the tech space right now as cloud computing, and associated technologies/opportunities. Cougar Capital was able to invest in the space thanks to syndicate partner, and lead investor UV Partners.
Soasta Inc. is a cloud based provider of stress and load test automation software, which businesses use to test the real-world performance of their web applications. With Web 2.0, more and more companies are moving their services online to the cloud, requiring new ways of testing their offerings. Traditional testing methods have been limited by the hardware infrastructure necessary to load.
Soasta addresses this issue by leveraging the Amazon Elastic Cloud (EC2) to provide massively scalable load and stress testing. Complementing this testing capability, with its real-time analytics expertise (of massive information databases), Soasta can provide a unique, valuable testing solution.
Cougar Capital invested $50,000 in the Series C round. UV Partners of Salt Lake City, Utah introduced Cougar Capital to the deal and was the lead investor. Canaan Partners and Formative Ventures were also syndicate partners.
Of the deal, team lead David Bishop said “one of the great VC truths that this deal reinforced was just how valuable a seasoned management team can be to a deal. It’s hard to find a better team than the Soasta team!”
