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QuikCycle Announces $8.9 Million in Venture Capital Funding
March 14th, 2007 No comments
QuikCycle, Inc., a leader in solutions for lab automation and test management software, announced recently that it has secured $8.9 million round of funding from Crescendo Ventures.
QuikCycle is a pioneer in the development of innovative solutions for lab management and test automation. Its software provides for complete test lifecycle management and is in use by service providers and equipment manufacturers around the world to accelerate time-to-market. QuikCycle solutions automate manual steps in the pre-production testing of new network services, infrastructure upgrades, or network devices. As a result, lab management and test engineers can do more testing in less time – while still assuring high quality results.
“Crescendo’s increased investment in QuikCycle reflects our confidence in the market demand for new ways to meet the challenges associated with converged networks. For service providers deploying new network services such as IPTV — or manufacturers of devices that require reliable network connectivity – the pace of technology change has never been faster or more complex,” said David Spreng, QuikCycle board member and managing general partner at Crescendo Ventures. “We’re equally confident that QuikCycle’s new leadership and its innovative software approach for automating the lab testing environment can help service providers and manufacturers successfully address these challenges.”
“I’m pleased that Crescendo Ventures has further endorsed the market opportunity that we see with its added investment in QuikCycle,” said Nariman Teymourian, chairman and CEO of QuikCycle. “The additional funding will be used to add key staff to grow our revenues both here and abroad, and support the introduction of exciting new QuikCycle products this year.”
QuikCycle is a leader in the development of innovative software solutions for lab management and test automation. Its software provides for complete test lifecycle management and is in use by service providers and network equipment manufacturers around the world to accelerate time-to-market for new products and services.
For more information, please visit: www.quikcycle.com
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