LAGUNA HILLS, Calif., June 26, 2019 /PRNewswire/ -- Centercode, the leader in providing end-to-end Customer Validation software-as-a-service (SaaS) solutions to global B2C and B2B enterprises, announced that it has closed on a growth equity investment led by NY-based private equity firm Argentum. Proceeds from the investment will be used to further accelerate the rapid growth of the Company's SaaS and managed services offerings. Michael Ulliman, a Principal at Argentum, will join Centercode's Board of Directors in connection with the investment.
Centercode is pioneering Customer Validation, which represents the process of evaluating the stability, satisfaction and adoption of a product before launch and throughout maturity by gaining actionable feedback and insights from product users in real environments through effective Alpha, Beta and Delta testing. Organizations typically lack a dedicated tool to validate products with confidence and often rely on manual processes to perform product tests. The Company effectively addresses these customer pain points by providing a comprehensive testing platform as well as access to a pre-qualified and diverse network of over 235,000 testers. Centercode's SaaS platform and managed services have been utilized by some of the most iconic and innovative companies in the world to bring dynamic, disruptive and delightful products to market using actionable customer feedback.
"With the current state of highly sophisticated, connected and continuously evolving products, companies can't afford to not leverage customer feedback in shaping both the launch and evolution of their products," said Centercode CEO and Co-Founder Luke Freiler. "Collaborating with customers is critical in the development and success of their products."
"Centercode has been able to take a complex and time-consuming process that has historically been managed by disparate systems and create an end-to-end software platform that enables companies to create and manage effective beta tests in one environment at scale," said Argentum Principal Michael Ulliman. "We are excited to partner with the Centercode team to help drive this next phase of growth and success."
As hardware and software development converge and agile environments promote faster releases, companies are looking to standardize their Customer Validation processes to keep up with the increasing demands on product managers. "Centercode is at the forefront of this trend and differentiates itself with a SaaS platform and set of services that drive significant efficiencies throughout the Customer Validation process, enabling faster and more successful product releases," said Argentum Managing Partner Daniel Raynor. "We believe that Centercode is well positioned to benefit from these industry dynamics and will continue to build upon its market leadership position."
About Centercode Centercode is a Customer Validation software and managed services company and the driving force in its industry. Since 2001, Centercode has empowered companies to build successful, high-quality products by leveraging feedback from real users testing the products in the real world before release. Centercode provides the platform, services, testers and framework to develop and scale best-in-class Alpha, Beta and Delta customer feedback programs. Visit www.centercode.com to learn about Centercode and how Customer Validation enables leading brands to launch and shape their products with confidence.
About Argentum Argentum is a New York-based growth equity firm that supports entrepreneurial owners in building industry-leading B2B software, technology-enabled and business services companies. The firm partners with management teams of companies with revenues of $5 million to $25 million, providing capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Since raising its first fund in 1990, Argentum has invested in over 80 companies and supported nearly 200 add-on acquisitions. Argentum fills the growing gap between early stage venture capital investors and later stage growth equity firms by targeting bootstrapped companies seeking $5 to $15 million of capital. For more information, visit www.argentumgroup.com.