Cyara Closes $25 Million Series A

 

REDWOOD CITY Cyara Solutions Corp., a provider of a testing and monitoring platform for businesses, has secured $25 million in Series A funding in a round led by PeakSpan Capital and Greenspring Associates.

Cyara has headquarters in Australia with North American office in San Francisco.

The company will use the funds to scale the business and accelerate the company’s fast growth. Cyara plans to further expand its SaaS platform and grow its global marketing, business development, sales and engineering teams. Established in 2006 in Australia, Cyara was bootstrapped to profitability without venture funding until this round.

Cyara’s platform supports global customers with combined revenues of approx. $3 trillion (USD) and is utilized by the world’s most recognizable global brands. Cyara’s Partner Program includes such leading technology companies as Avaya, Cisco, Genesys, IBM, HP and Nuance. With recent hires and active recruiting, Cyara’s staff is expected to grow by 60% this year.

“Subpar customer experiences are simply no longer acceptable. This is particularly true in markets such as financial services, telecommunications, government, insurance and healthcare,” explained Cyara CEO and cofounder Alok Kulkarni. “Cyara’s mission is to help companies accelerate their customer experience innovation lifecycle through Agile enabled discovery, testing and monitoring. This round of funding will be critical in allowing us deliver on that mission.”

“Cyara fills an essential need by helping companies to differentiate from competitors through improving customer experiences,” explained Philip Dur, co-founder and managing partner of PeakSpan Capital. “By doing this across all channels, not just the call center, Cyara clearly outperforms all legacy companies in this field and is well positioned to dominate the market. This is why our investment in Cyara is so strategic, and why we anticipate even greater things from Cyara in the future.”