Investments

Big Data Debugging Startup OverOps In $30M Series C

OverOps, a technology startup that leverages big data and cloud computing to enable companies to more efficiently find software bugs, just recently announced a $30 million Series C round of venture funding led by Lightspeed Venture, with additional participation from Menlo Ventures — both existing investors.

To date, the latest round brings OverOps’ total funding raised to some $49.5 million.

Founded in 2011, OverOps provides a cloud-based, on-premises solution that enables developers to automate the search of software application bugs. The goal is to enable these developers to quicken output and the pace of updates.

“Everyone is trying to release software more quickly and be more agile, be more efficient,” Co-Founder and CEO Tal Weiss told TechCrunch. “The challenge to digital transformation is that the faster you go, the faster things break. The second any code breaks in staging or production, [our solution is] able to pinpoint the right developer and provide what they need to resolve that issue.”

Clearly, investors are taking notice of the startup’s capabilities — and capacity for growth, as the company reportedly grew 500 percent year over year. The latest funding round doubles the prior funding raised by the company last April.

OverOps reports having over 250 customers, including Intuit and Comcast.

The startup hopes to maintain its growth pace with the latest round of funding, telling TechCrunch it’s going to target larger enterprise customers and enable them to compete with the pace and agility of micro services.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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