CAST, a provider of software intelligence, has raised $12 million in funding. The investors included DevFactory, CM-CIC Investment, Keren Finance and the Boston Consulting Group.
New York – May 31, 2018 – CAST, the market leader in Software Intelligence, today announced it has completed a $12 million round of capital funding. This comes on the heels of a $22 million investment in technology innovation over a three-year period, which focused on CAST Highlight, CAST’s SaaS-based application portfolio analysis solution that has seen 100% year-over-year growth, and CAST’s Application Intelligence Platform (AIP), the most sophisticated Software Intelligence platform on the market.
CAST also intends to aggressively invest in growing partnerships with global leaders in technology consulting and services while accelerating its recruitment of top-level talent in North America, India, Germany and China.
The first quarter of 2018 was extremely dynamic with 27.9% growth at constant exchange rates, while a comparison of 1Q17 to 1Q18 results saw growth rates at close to 40%, including more than 40 deals closed with new customers, including Wells Fargo, J. Hancock, Bank Sabadell, Findomestic Banca, General Electric, Fiserv and Microsoft for Saint-Gobain.
CAST partners include major consulting firms like the Boston Consulting Group and McKinsey, global systems integrators like Cognizant, IBM and Accenture, and OEM partners such as MEGA International and a myriad of high-energy, highly-skilled consulting firms specializing in system architecture, cloud migration and application security.
The Software Intelligence CAST provides is well-aligned with application security, digital transformation and portfolio modernization goals of enterprise organizations today. In this context, CAST’s management team anticipates a CAGR of 15% and a double-digit profitability margin by 2020.
CAST is the market leader in Software Intelligence, with unique technology backed by $150 million in software analysis and measurement R&D. CAST technology helps digital leaders and doers see the truth, become software geniuses and deliver super software – resilient, responsive, safe and secure software. Hundreds of companies rely on CAST to improve end-user satisfaction and time-to-market, prevent business disruption and reduce cost. Founded in 1990, CAST operates globally with offices in North America, Europe, India and China. For more information, visit. www.castsoftware.com.