Sauce Labs Valuation, Funding & Investors
Sauce Labs is valued at $613M as of March 2019.
Last Sauce Labs valuation
$613M
Undisclosed stage · Mar 2019
Last Sauce Labs funding round
$50M
Undisclosed stage · Mar 2019
Cumulative funding Sauce Labs raised
$140M
across 4 funding rounds
Key investors in Sauce Labs
Toba Capital
TPG
IVP
Adams Street Partners
Riverwood Capital
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Scott Banister
About Sauce Labs
Sauce Labs is a San Francisco-headquartered provider of cloud-based continuous testing platforms for web and mobile applications. The Sauce Labs Continuous Testing Cloud supports automated testing across real browsers, operating systems, and devices using frameworks like Selenium and Appium. Founded in 2008 by Selenium creator Jason Huggins, the platform processes tests for enterprises including Capital One and Microsoft to ensure cross-platform performance. Sauce Labs maintains strong ties to the open source community and offers live interactive testing alongside analytics for application quality. Investors include Salesforce Ventures and IVP.
Founded
2008
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$613M (Mar 2019)
Sauce Labs Valuation
Sauce Labs is currently valued at $613M, based on its undisclosed-stage round in March 2019.
The $50M round was led by Riverwood Capital, with participation from TPG.
Sauce Labs valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2019 | Undisclosed stage | $613M |
Sauce Labs Funding History
Sauce Labs has raised a total of $140M across 4 funding rounds.
Sauce Labs' first fundraising round was a $5M Series C in July 2013. The most recent completed round was a $50M undisclosed-stage round in March 2019.
Sauce Labs funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2019 | Undisclosed stage | Riverwood Capital (lead); TPG | $50M | $613M | Sauce Labs is a San Francisco-based provider of a continuous testing cloud platform that enables developers to automate testing of web and mobile applications across browsers, operating systems, and devices using cloud-based emulators, running over 2 million tests daily. The company secured a $50 million growth investment from Riverwood Capital on March 26, 2019, with Jeff Parks joining the board; this round brought total funding to approximately $144-156 million across multiple prior rounds including $70 million in 2016 from Centerview Capital Technology, IVP, and Adams Street Partners, $15 million Series D in 2015, and earlier rounds from Toba Capital, Triage, and Salesforce Ventures. Funds were allocated to accelerate R&D, strategic growth, and expansion beyond functional testing into a 360-degree application experience view. In 2018, Sauce Labs achieved record total annual recurring revenue with nearly 40% year-over-year growth, its fourth consecutive year of double-digit ARR growth, surpassing 2 billion tests milestone, and earning recognitions on Inc. 5000, Deloitte Technology Fast 500, and San Francisco Business Times' fastest-growing lists. Forge Global reports a Series F post-money valuation of $613.15 million in March 2019, aligning with the Riverwood-led round, though primary announcements confirm only the $50 million investment amount without disclosing valuation. TPG increased its investment in Sauce Labs in 2021, with Art Heidrich joining the board, building on prior 2019 involvement, amid ongoing funding from investors like Salesforce Ventures, IVP, Adams Street, and Riverwood. |
| Nov 2016 | Undisclosed stage | Adams Street Partners (lead); Centerview Capital (lead); IVP (lead) | $70M | - | Sauce Labs is a cloud-based platform for automated software testing across browsers, operating systems, and devices, enabling developers to identify issues before launch. In November 2016, the company raised $70 million in an undisclosed-stage funding round from Centerview Capital Technology, IVP (Institutional Venture Partners), and Adams Street Partners, bringing total funding to $101 million after prior rounds totaling $31 million. This followed a $15 million round in February 2015 and a $5 million round in July 2013, both led by Toba Capital. The investors included prominent Silicon Valley and Wall Street firms, with Buno Pati from Centerview and Sandy Miller from IVP joining the board. At the time of the round, Sauce Labs had 3,500 customers and 140 employees, positioning it to capitalize on growing demand for cloud testing amid shifts to Agile, mobile, and cloud development methodologies. The funding was earmarked for developing new features, expanding sales, marketing, and customer support teams, and hiring engineers and customer success personnel to scale operations. The market was catching up to Sauce Labs' offerings, which had been ahead of industry adoption curves in continuous testing. Post-round, Sauce Labs made its first acquisition in December 2016, buying Berlin-based TestObject GmbH for an undisclosed amount to enhance its Real Device Cloud with real smartphone and tablet testing capabilities, absorbing TestObject's customers like Nestlé, Citrix, and Opera. |
| Feb 2015 | Series D | Toba Capital (lead) | $15M | - | Sauce Labs, a cloud-based web and mobile application testing platform, secured $15 million in Series D expansion funding on February 5, 2015, from existing investor Toba Capital. The funding supports geographic and infrastructure expansion amid strong growth, including over 200 million total tests run on the platform and 145 percent revenue growth in 2014. The company supports more than 450 browser, operating system, and device platform combinations, enabling automated testing with Selenium and Appium to facilitate continuous integration and delivery. Enterprise customers at the time included Salesforce, Twitter, Workday, and Liberty Mutual. The investment builds on prior rounds, such as the $5 million Series C in 2013 also led by Toba Capital, and aims to enhance mobile testing capabilities and international presence. |
| Jul 2013 | Series C | Toba Capital (lead); Scott Banister; Triage Ventures | $5M | - | Sauce Labs, a provider of cloud-based mobile and web application testing solutions, closed a $5 million Series C funding round on July 16, 2013, led by Toba Capital with participation from Scott Banister and Triage Ventures. This brought total funding to about $9 million since 2009. The funds supported global expansion, sales growth, support, service, and go-to-market strategies, particularly for mobile and enterprise offerings. The company had executed a record 6 million tests in June 2013 and over 50 million tests total since launch, with monthly test execution growing more than 10%. It served major customers including Dropbox, Eventbrite, McKesson, Mozilla, Salesforce, Yammer, and Yelp. Sauce Labs offered tools like Sauce Team for team collaboration and planned physical devices with mobile simulator capabilities. |
Who has invested in Sauce Labs?
8 investors have backed Sauce Labs across its funding rounds, including Toba Capital, TPG, IVP, Adams Street Partners, Riverwood Capital and Scott Banister.
Lead investors include Riverwood Capital, Adams Street Partners, Centerview Capital, IVP and Toba Capital.
Sauce Labs Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 2 | Lead | Jul 2013 | |
| Chicago, IL | 1 | Lead | Nov 2016 | |
| Scott Banister | San Francisco, CA | 1 | Participant | Jul 2013 |
| San Francisco, CA | 1 | Lead | Nov 2016 | |
| San Francisco, CA | 1 | Lead | Mar 2019 | |
| San Francisco, CA | 1 | Lead | Nov 2016 | |
This data is available for Pro users. Sign up to see all 8 Sauce Labs investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Sauce Labs
Sauce Labs has acquired 6 companies to date.
Last acquisition by Sauce Labs was on July 6th 2021. Sauce Labs acquired Backtrace for undisclosed valuation.
Latest Acquisitions by Sauce Labs
| Description | Backtrace is a New York-headquartered debugging platform founded in 2014. It captures software faults for developers at companies like Autodesk and Unity, backed by Amplify Partners and Rally Ventures. | TestFairy is a mobile app testing platform founded in 2013. The service distributes beta builds, captures session videos, logs crashes, collects feedback, and tracks metrics. Integrations include Jira, Slack, and webhooks, with SSO for enterprise teams developing iOS and Android applications worldwide. | AutonomIQ is a cloud-based AI platform for autonomous software testing and deployment. It integrates with SaaS tools like Salesforce and Workday to auto-generate test cases, self-heal scripts, and diagnose failures using machine learning. AutonomIQ accelerates release cycles for web applications in enterprise environments. | API Fortress provides a cloud-based platform for automated API testing, virtualization, and load simulation. Founded in 2015 and headquartered in Berkeley, California, it supports functional testing, contract validation, and deployment monitoring for developers. The tool generates tests from OpenAPI specs and integrates with CI/CD pipelines like Jenkins and GitHub. | |
| HQ Country | |  | | | |
| HQ City | New York City, NY | Tel Aviv | San Francisco, CA | New York City, NY | |
| Deal Date | 6 Jul 2021 | 15 Mar 2021 | 2 Feb 2021 | 10 Dec 2020 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Sauce Labs acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Sauce Labs Competitors
Sauce Labs competitors include listed companies like PagerDuty and Dameng Database, and private ones like Octopus Deploy, tray.io, Blacksmith and Port.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Brisbane | Private | $80M | - | $625M | 7.8x | |
| San Francisco, CA | Private | $70M | - | $600M | 8.6x | |
| San Francisco, CA | Private | $3.5B | - | $550M | 0.2x | |
| Tel Aviv | Private | - | - | $800M | - | |
| United States | Publicly listed | $493M | $17M | $1.1B | 2.2x | |
 China | Publicly listed | $195M | $84M | $3.4B | 12.5x |
Sauce Labs Public Comps
Sauce Labs is still privately-owned, but its public comps include ZeroStack, PagerDuty, Dameng Database, GitLab, Elastic, JFrog, MongoDB, Cloudflare and Snowflake.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $36M | ($115M) | 2.8x | 3.2x | (0.9x) | - | |||
| $493M | $17M | 2.2x | 2.2x | 64.6x | 7.7x | |||
| $195M | $84M | 15.3x | 12.5x | 35.5x | 27.6x | |||
| $955M | ($82M) | 7.5x | 6.7x | (87.0x) | 44.3x | |||
| $1.7B | $35M | 4.9x | 4.6x | 244.4x | 25.5x | |||
| $532M | ($67M) | 20.3x | 17.4x | (159.9x) | 88.4x | |||
| $2.5B | ($104M) | 11.9x | 10.4x | (282.5x) | 49.6x | |||
This data is available for Pro users. Sign up to see all Sauce Labs competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Sauce Labs
| When was Sauce Labs founded? | Sauce Labs was founded in 2008. |
| Where is Sauce Labs headquartered? | Sauce Labs is headquartered in San Francisco, CA, United States. |
| Is Sauce Labs publicly listed? | No, Sauce Labs is a private, VC-backed company. |
| What is Sauce Labs' valuation? | Sauce Labs was last valued at $613M in its undisclosed-stage round in March 2019. |
| How much funding has Sauce Labs raised? | Sauce Labs has raised $140M across 4 funding rounds. |
| What was Sauce Labs' last funding round? | Sauce Labs' last funding round was a $50M undisclosed-stage round in March 2019, led by Riverwood Capital. |
| Who are Sauce Labs' investors? | Sauce Labs' investors include Toba Capital, Adams Street Partners, Scott Banister, IVP, Riverwood Capital, Centerview Capital, TPG and Triage Ventures. |
| Which companies are comparable to Sauce Labs? | Companies comparable to Sauce Labs include Octopus Deploy, tray.io, Blacksmith, Port, PagerDuty and Dameng Database. |
| How many companies has Sauce Labs acquired? | Sauce Labs has acquired 6 companies, including Backtrace, TestFairy, AutonomIQ, API Fortress and Screener. |
| What was the largest acquisition by Sauce Labs? | The $1B acquisition of Screener in April 2019 is the largest acquisition Sauce Labs has made to date. |
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