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To calculate and determine the winners that made the AI 100 list, CB Insights uses a Mosaic scoring system, which is a quantitative framework to measure the overall health and growth potential of private companies. The Mosaic score evaluates companies based on three distinct factors: Momentum, Market and Money. After review of Applitools’ Mosaic score, we were selected as one of 1,000+ applicants to have made the list!

Why Applitools? In today’s increasingly digital world, it is imperative that any company have a digital presence, let alone one that is visually flawless. With web teams buried in lines of code, it can often be challenging for organizations to find visual discrepancies on their apps and sites, and it often involves laborious manual processes to find/fix these discrepancies.

Thanks to Applitools Eyes, our AI-powered visual testing and monitoring solution, customers are able to automatically test the look, feel and user experience of their apps and sites without having to sacrifice their existing test framework.

All the while, Applitools Eyes’ AI-powered cognitive vision is constantly learning and improving from what are now millions of collected data points. This saves organizations countless hours and dollars spent using teams of manual testers tracking down visual imperfections and searching for flawed lines of code.

This journey has only just begun! The increasing pressure from business executives to protect the brand experience, as digital transformation continues unabated, means we will see the emergence of the nascent Application Visual Management (AVM) category. This logical extension of Application Delivery Management (ADM), and Application Performance Management (APM), will become more a focus for enterprises as we head into 2018.

Make sure to stay tuned in the coming year for some more exciting announcements, updates to our solutions and the latest trends in test automation. And, thanks again to the CB Insights team for the accolade!

Applitools launched its SaaS offering in January 2015 and since then, usage has constantly grown 25% quarter-over-quarter. In 2016, MRR multiplied 3X over 2015 and similar growth is expected in 2017. Today, millions of visual tests are performed with Applitools each week. Applitools is trusted by companies of all sizes, including Fortune-100 customers in a variety of verticals: Banking, Software, Online Retail, Insurance, Pharmaceuticals, and more. Applitools' 200+ customers include household names such as American Express, Intuit, MasterCard, Bose, Sony, Salesforce, Slack, ServiceNow, Twilio, Wix, and Siemens.

"We are very pleased to have Sierra Ventures and Bessemer Venture Partners join our existing investors in this new round of funding," said Gil Sever, CEO of Applitools. "Their support validates our vision, and gives us the capital we need to continue our mission: to bring AI-powered Automated Visual Analysis to application test automation, application monitoring, and collaboration for automation engineers, DevOps, developers, and digital transformation leaders that need to adapt to Continuous Delivery. It's been an exciting few years since inception, and the new funding will allow us to continue expanding our product offering and grow even faster."

As part of the financing round, Tim Guleri, Managing Director of Sierra Ventures, joins the Applitools Board. "Tim's years of entrepreneurial leadership in taking companies through the next stages of growth and execution, combined with his vast network of partners and customers, make him a valuable addition to the Applitools Board," added Gil Sever.

"In today's trend toward mass scale digitization across all verticals, a company's Application User Interface is its proverbial 'front door', and is key to staying competitive," said Tim Guleri, Managing Director of Sierra Ventures. "The breadth of device/browser combinations, coupled with continuously shortening development and release cycles, requires DevOps teams to fully automate the development and runtime as part of their digital transformation. Applitools is the only company that has used Artificial Intelligence at scale to provide a proven and robust solution for this acute pain-point. I am sure that their unique technology and execution can make them the leader of this new and exciting market segment."

Applitools allows Test Automation, DevOps and Development teams to release software flawlessly and automatically through its SaaS Visual Testing and Monitoring product. Based on sophisticated image processing algorithms that mimic the human eye and brain, Applitools ensures that an app appears correctly and functions properly on all mobile devices, browsers, operating systems and screen sizes.

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About Sierra Ventures Founded in 1982 and investing its 11th venture fund, Sierra Ventures is a privately held venture capital firm that invests in early-stage, high growth emerging technologies companies. Sierra Ventures is known for working closely with exceptional entrepreneurs to build world-class category defining companies. A few of Sierra Ventures recent successful exits include the IPOs of InvenSense, Sourcefire, AuthenTec, and the acquisitions of Ooyala (by Telstra), Nexgate (by Proofpoint), Greenplum (by EMC), DynamicOps (by VMWare) and Bina Technologies (by Roche). Sierra has also backed prominent technology companies including Intuit, Healtheon, Active Software, Micromuse and Teradata. www.sierraventures.com

About Bessemer Venture Partners Bessemer Venture Partners (BVP) is a $4B venture capital firm that funds consumer, enterprise, and healthcare technology startups around the world, from seed stage to growth. BVP funded the early stages of Blue Apron, Pinterest, Twitch, Periscope, Skype, among others, and helped build 117 IPOs including Twilio, Yelp, LinkedIn, Shopify, and Wix. Follow us: @BessemerVP