API Fortress has been sold to Sauce Labs, a portfolio company of Riverwood Capital
Lincoln acted as the exclusive financial advisor to API Fortress, working closely with its founders and management team throughout the sale process. Lincoln leveraged its industry expertise to thoughtfully manage all aspects of the process, including the preparatory, marketing, negotiation and due diligence phases of the transaction. Terms of the transaction were not publicly disclosed.
Founded in 2015, API Fortress is a cloud-based, continuous testing and monitoring platform for application programming interfaces (APIs) that enables customers and partners to significantly shorten test sprints, improve code quality and monitor functional uptime. The API Fortress platform features an API-first design that enables it to easily integrate with the tools integral to building and testing APIs and to seamlessly mesh with existing DevOps toolchains. API Fortress empowers developers to work in parallel with quality assurance and testing teams throughout the API lifecycle, significantly accelerating time-to-market. The company’s customer base includes enterprises across various sectors, including financial services, retail and media.
Sauce Labs is a leading provider of continuous testing solutions that deliver digital confidence. The Sauce Labs Continuous Testing Cloud delivers a 360-degree view of a customer’s application experience, ensuring that web and mobile applications look, function and perform exactly as they should on every browser, OS and device, every single time. Sauce Labs is a privately held company funded by Toba Capital, Salesforce Ventures, Centerview Capital Technology, IVP, Adams Street Partners and Riverwood Capital.
Together, Sauce Labs and API Fortress will be able to provide a comprehensive testing experience that includes API testing in addition to functional user interface testing, visual end-to-end testing, front-end performance testing and real-time test insights and analytics.
Roger Knight, Managing Director of Lincoln International’s Technology, Media & Telecom (TMT) Group, commented, “We are pleased to have represented API Fortress on this strategic transaction. We continue to see consolidation within the DevOps ecosystem, as organizations increasingly adopt cloud technologies and transition from monolithic systems to highly-distributed microservice architectures. We offer our congratulations to both API Fortress and Sauce Labs as this combination reinforces their strategy to create a world-class test automation platform for customers.”
I greatly appreciate the Lincoln team’s role in managing this sale process. Lincoln's extensive domain knowledge in DevOps, as well as deep industry relationships and process expertise, were invaluable to closing this transaction with our preferred strategic partner.
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