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SOASTA

  • Writer: Frazier VC
    Frazier VC
  • 2 days ago
  • 2 min read
Frazier VC investment in SOASTA now Akamai

Deal Snapshot

Company: SOASTA, Inc.

Website: www.soasta.com

Sector / Category: Application performance testing / digital performance management / cloud testing

Headquarters: Mountain View, California

Founded: 2006

Investor: Frazier VC

Investment Vehicle: Fund I

Deal Type: Secondary purchase


Company Overview

SOASTA built cloud-based testing and digital performance management software used to help enterprises test websites, mobile apps, and digital experiences at scale. Its platform became known for load testing, performance monitoring, and real-user experience tools designed to help large organizations understand how applications performed under real-world conditions.


Public Funding / Capital Events

Sep 2008 — $6.4M financing SOASTA raised $6.4 million in financing from Formative Ventures, Canaan Partners, and The Entrepreneurs’ Fund. The round supported the company’s early growth in cloud-based testing.


Dec 12, 2011 — $12M funding round SOASTA announced a $12 million round led by The Entrepreneurs’ Fund, with participation from Canaan Partners, Formative Ventures, and Pelion Venture Partners. The company said the proceeds would help fund international expansion and continued product investment in web and mobile testing.


Aug 2013 — $30M financing SOASTA raised $30 million from Macquarie Capital, ROTH Capital, Canaan Partners, Formative Ventures, and Pelion Venture Partners. The financing supported expansion of the company’s web and mobile testing platform.


Mar 23, 2016 — $30M debt financing The Wall Street Journal reported that SOASTA added $30 million in debt financing led by Tennenbaum Capital Partners, with participation from existing investors including Canaan Venture Partners, Pelion Venture Partners, and Formative Ventures.


Mar 29, 2017 — Acquisition announced by Akamai Akamai announced a definitive agreement to acquire SOASTA in an all-cash transaction. Akamai said the deal would strengthen its web performance and digital experience capabilities.


Apr 7, 2017 — Acquisition completed by Akamai Akamai later announced that it had completed the acquisition of SOASTA. Following the transaction, SOASTA became part of Akamai’s application and digital performance portfolio.


Investment Summary

Frazier VC invested in SOASTA through Fund I via a secondary purchase in January 2016.


Why We Invested

SOASTA operated in a category with strong tailwinds as enterprises became more dependent on high-performing web and mobile applications. Its platform addressed a mission-critical problem by helping large organizations test performance before failures affected customers and revenue, which made the software more strategic than a simple developer utility. The company also benefited from meaningful workflow embed, technical differentiation, and a customer value proposition tied directly to digital experience, uptime, and conversion. Its acquisition by Akamai further reinforced the strategic importance of the platform.


Other Investors

  • Canaan Partners

  • Formative Ventures

  • The Entrepreneurs’ Fund

  • Pelion Venture Partners

  • Macquarie Capital

  • ROTH Capital

  • Tennenbaum Capital Partners

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