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06/12/2007

iTKO Secures $7.5 Million in Series B Funding

 

iTKO, Inc., a leading provider of testing solutions for SOA (Service-Oriented Architecture) software, recently announced that the company has secured $7.5 Million in Series B funding. The round was led by Vesbridge Partners, and existing investors CenterPoint Ventures and Hunt Ventures participated as well. The funding will be used by iTKO to continue global expansion of the sales and marketing team.

“With SOA implementations continuing to escalate and mature, we recognize the necessity of continuous SOA testing and validation,” said Jeff Hinck, Senior Managing Director, Vesbridge Partners. “The SOA testing space is a rapidly growing market right now, and we believe we have found a market leader in iTKO.”

The iTKO LISA software suite offers a complete solution for testing Service-Oriented Architectures. Unlike conventional UI- and code-oriented testing tools, LISA was built from the ground up to test the many heterogeneous components and workflows that make up SOA applications. With LISA, enterprises can continuously test every technology layer of SOA, throughout the development and deployment lifecycle.

“We are excited about the insight and experience Jeff brings to our board of directors, and Vesbridge is well known in the technology business community,” said Shridhar Mittal, CEO of iTKO. “We look forward to using the Series B funding to increase our global sales and marketing efforts, as well as better service an increasing worldwide base of LISA customers.”

Jeff Hinck of Vesbridge Partners will join the iTKO board of directors. He also holds board positions at Airband, Atrica, Storspeed and RipCode.

iTKO, Inc. offers the most complete software suite for testing Service-Oriented Architectures (SOA), allowing multiple business technology layers to be exercised within a single test case. iTKO's mission is to allow everyone involved in IT to own Complete, Collaborative, and Continuous(tm) software quality, from development, to QA and business analysts. iTKO LISA Complete SOA Testing Platform system performs unit, functional, regression, load and performance tests, without requiring test coding or script maintenance, saving up to 80% of the cost of testing over the course of six months. For dynamic web applications, web services, J2EE, .NET, Java objects, JMS/messaging, databases, and many more technologies, LISA provides live interaction with every layer, and gives everyone the "Freedom-to-Test" applications exactly as they will be deployed. Founded in 1999, the Dallas-based company's customers include Sun, Capgemini, Cardinal Health, AMD, TIBCO and i2.

For more information, please visit www.itko.com