Testlio, the originator of networked testing, raised a $12M Series B round. The funding round was led by Spring Lake Equity Partners and also saw participation from Series A investors Altos Ventures and Vertex Ventures US.
- Testlio works with clients like Amazon, Fox, Microsoft, and Netflix to help them release products faster via on-demand testing on any device and in any location through its community of more than 10,000 vetted freelance testers across the globe.
- The company also has an offering for startups that have raised Series A funds and are looking to scale up their testing capabilities.
- Testlio's ARR exceeded the $20M mark this year and has seen a 50% increase in YoY revenue.
- The new funding will be used for hiring new people, improving its platform, expanding its geographical reach to the APAC region, and new marketing capabilities to increase its brand awareness.