As we detailed in a December blog post, Faster Application Release Cycles Drive the Need for Test Automation, the pandemic has transformed the way businesses of all types think about how to reach customers more efficiently. For businesses like restaurants and storefronts, this has meant accelerating the push towards e-commerce and home delivery to make products more accessible. For many larger, Fortune 500 enterprises, the shift has spurred efforts to modernize application stacks to better manage the ever-growing need for customer data and analytics—data needed now that customers are working remotely, using more devices and interacting with an ever-growing number of software applications.
In industry jargon, Covid has accelerated “digital transformation”.
In order to satisfy these rapidly changing demands, enterprise CIOs have taken a look at the software-development lifecycle from top to bottom, starting with the way teams are organized and operated and continuing to the actual best-of-breed technology being purchased and implemented today, ranging from source code to security and feature-flagging.
In our “State of the OpenCloud” report released last year, and in our December blog post, our team highlighted current, specific bottlenecks within the software-development lifecycle (SDLC) that companies are trying to overcome, including testing and security. What we have seen is that these traditionally were functions primarily driven by activities outside the broader development organization–ranging from QA to dedicated security personas—but which are now being directly integrated into developer-tool suites. Following this broader thesis, since publishing our OpenCloud 2020 report, we have invested in Harness.io*, Styra* and others to complement existing SDLC investments in JFrog*, BridgeCrew* and Contrast*.
Within the testing market, we are excited to announce our continued involvement in Launchable* today and to welcome 645 Ventures to the investor base backing the company. Launchable serves as an intelligent control plane layered across a customer’s existing SDLC toolchain, inclusive of all underlying testing frameworks, that an enterprise may be using to provide a test-recommendation engine.
Launchable’s key insight is that there is a massive productivity loss due to bad code, resulting in $85 billion of global GDP loss, per a 2018 Stripe report. Given this dynamic, Launchable helps enterprises focus on running the tests that matter first; this prioritization can cut test cycles by up to 80%. With this framework, developer leads and engineering directors will be able to test more often, find issues earlier and accelerate development cycles. The company leads with a freemium model but has proven customers scaling to enterprise needs.
We are thrilled with Launchable’s progress since we originally invested in the company’s seed round with Unusual Ventures and are excited to continue on the journey with the team!
Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website.
*Denotes a past or present Battery portfolio company. For a full list of all Battery investments, please click here. No assumptions should be made that any investments identified above were or will be profitable. It should not be assumed that recommendations in the future will be profitable or equal the performance of the companies identified above.
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