Philadelphia, February 15, 2017: eureQa, the SaaS+Cloud Automation Platform for eCommerce testing announced that it has raised $400K in follow-on funding to its Seed round. Current investors SRI Capital participated in this round along with Robert Ciaruffoli, Walter Buckley and Thomas Gravina.
eureQa uses automation to bring speed, scale and efficiency to eCommerce testing. Companies like Bare Necessities and Weight Watchers have reduced testing times by 85% and testing costs by 75% with the eureQa platform. “Using eureQa, we are finding, validating and fixing a greater number of critical issues than we were before, and we are able to address these critical issues earlier in the project cycle. eureQa is key to our ability to hit our dates and launch with confidence, knowing we are stable,” said William Saccone, Sr. Director, Quality Assurance at Bare Necessities.
“Current manual testing practices are inadequate to test the fast pace of change in data and content on eCommerce sites.”, said Doc Parghi of SRI Capital. “Automated testing with eureQa is an efficient way for merchants to identify and eliminate these errors and increase their revenue.
Forrester predicts that the US B2B eCommerce market will grow to over $ 1 Trillion, while the B2C eCommerce market will grow to $480B by 2019. “This growth is driving significant investment in eCommerce technologies, and eureQa is well positioned to make sure that these technologies are implemented correctly”, said Walter Buckley, CEO of Actua, a Cloud company focused on transforming vertical and highly specialized markets.
Badri Nittoor, CEO of eureQa said, “ Testing eCommerce applications continues to be time consuming and expensive, creating challenges for eCommerce companies and digital agencies that build or implement these applications”. He added, “eureQa provides a rich set of features for application testing, database testing, API testing and load/performance testing to bring speed, scale and efficiency to eCommerce testing.”
Robert Ciaruffoli, former CEO of Baker Tilly/ParenteBeard, LLC said, “Errors on eCommerce sites are costly, resulting in dissatisfied customers and lost revenue. eureQa allows merchants to identify and eliminate these problems, and improve their bottom line.”
Load and performance testing with eureQa helps companies make sure that their eCommerce sites, apps and APIs can perform well under peak user loads. “With eureQa, companies can make sure that their customers get a consistent great experience no matter how they access the eCommerce app or how many people are on the site”, said Thomas Gravina, Chairman, Chief Executive Officer, and Co-Founder of Evolve IP
About the Investors
SRI Capital is a seed stage venture fund focused on the "as a service" economy and “deep tech”. We invest $250-1,000,000 initially and are usually the first institutional investors in a company. We prefer startups with a proven market fit, even if pre-revenue. We are entrepreneurs turned investors, so can truly understand what founders need to realize their vision. Based in Philadelphia and Hyderabad.
Robert Ciaruffoli, CPA
Robert J. Ciaruffoli serves as an advisor, board member and provides funding to start-up and early stage companies. Bob previously served as Chairman and CEO of ParenteBeard LLC, a CPA and Business Advisory firm, from 2000 until 2014 during which time he and his team grew the firm from approximately $32M to $175M through organic growth, acquisitions, and expansion of services. In 2014, Bob and his team completed a merger of ParenteBeard LLC, the 23rd largest US CPA firm, with Baker Tilly Virchow Krause, the 17th largest US CPA firm, to form the 12th largest US CPA firm. Bob is a collaborative, results driven person with extensive leadership accomplishments in business, including national and international organizations. He possesses strong financial, analytical and corporate governance skills. Bob has a proven ability to scale businesses and execute merger and acquisitions
Walter Buckley is co-founder, Chief Executive Officer and Chairman of the Board of Actua (formerly ICG and Internet Capital Group). Walter founded Internet Capital Group in 1996 and prior to that he was Vice President of acquisitions for Safeguard Scientifics, Inc., where he led many of Safeguard’s investments through the mid-1990s, including Diamond Technology, ChromoVision and Video Server. He also was responsible for developing and executing Safeguard’s multimedia and Internet investment strategies.
Thomas Gravina currently serves as Chairman of GPX Enterprises, L.P., a private investment firm, and Chairman of GPX Realty Partners, L.P., a private real estate and investment advisory firm, of which he has served as Chairman since co-founding both companies in 2005. Mr. Gravina also currently serves as Chairman and Chief Executive Officer of Evolve IP, LLC, a privately held communications company.
Previously, from 2000 to 2005 Mr. Gravina served as President and Chief Executive Officer of ATX Communications, Inc., a publicly traded communications company. From 2005 to 2006 Mr. Gravina also served as chairman of the Board of Directors of ATX Communications. From 1987 to 2000, Mr. Gravina was Co-Chief Executive Officer and Co-Founder of ATX Telecommunications Services.
eureQa, the SaaS+Cloud automation company provides a complete solution for the continuous testing of eCommerce and enterprise applications. The eureQa Automation Platform helps companies test all aspects of their application with a rich set of features for UI Testing, API Testing, Database Testing, Load Testing and Test Data Management. eureQa helps DevOps teams implement and manage continuous testing with QaCONNECT. Leading online retailers and enterprises like Bare Necessities, Weight Watchers, Joules and Scholastic use eureQa to improve test automation coverage and bring efficiency to their testing operations. eureQa is the recipient of the Rising Star award from the New Jersey Technology Council. eureQa is headquartered in Cherry Hill, NJ and has offices in Hyderabad, India.