Mar 09, 2021
Sauce Labs Accelerates Momentum with Increased Investment from TPG
Leading technology investor deepens investment in continuous testing leader; Art Heidrich joins company’s Board of Directors
SAN FRANCISCO – March 9, 2021 – Sauce Labs Inc., the leading provider of continuous testing solutions that deliver digital confidence, today announced that TPG, a leading global alternative asset firm, has significantly increased its investment stake in the company. In conjunction with the investment, Art Heidrich, a member of the technology investment team at TPG, has joined the Sauce Labs Board of Directors. TPG first invested in Sauce Labs in 2019.
“The additional investment from TPG - a firm known for its foresight and extensive track record of success - is a tremendous validation of our strategy,” said Aled Miles, president and CEO, Sauce Labs. “We’re eager to work even more closely with Art and the TPG team as we continue to evolve our portfolio and deliver digital confidence to our customers.”
The investment from TPG comes as Sauce Labs continues to move aggressively to expand its platform capabilities to serve more users and use cases throughout the DevOps toolchain. Sauce Labs recently acquired both AutonomIQ, a leading provider of scriptless test automation solutions, and API Fortress, a leading provider of modern API testing solutions for agile and DevOps teams. The company has enhanced its platform to support new developer-preferred frameworks such as Cypress, Playwright, and TestCafe, and recently launched new end-to-end visual testing capabilities to give developers a more comprehensive view of application quality. In February, Sauce Labs announced a new technology partnership with Sumo Logic.
“The DevOps market continues to grow rapidly, and testing is the next frontier that needs to be automated and optimized,” said Heidrich. “Sauce Labs is extending its leadership position in the market both organically and through acquisition, empowering its customers to develop and release better code faster. We’re excited about the direction that the leadership team is taking the company and look forward to playing a part in that journey.”
TPG is a leading investor in software and enterprise technology with a long history of partnering with innovative companies that are creating new solutions and driving differentiated value in their markets. Select current and past investments include C3.ai, Checkmarx, Digital.ai, McAfee, Sonatype, Wind River, and Zscaler.
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