Koality Announces $1.8 Million Seed Round Funding Led By FF Angel

SAN FRANCISCO, Oct. 3, 2013 /PRNewswire/ -- http://www.koalitycode.com Koality (pronounced "quality") today announced completion of its seed funding, a round totaling $1.8 million. Comprised of investments from a diverse group of influential venture capital firms and angel investors, the round was led by FF Angel, a seed-stage fund operated by Founders Fund, assisted by Palantir Technologies chairman and Founders Fund partner Peter Thiel.

Also participating in the round of investment is the Webb Investment Network, Index Ventures, Felicis Ventures and UJ Ventures, along with Kris Duggan, Raymond Tonsing and Tien Tzuo as well as a number of angel investors from Facebook, Quora and Palantir.

Koality, which debuted this month at TechCrunch Disrupt 2013, offers a software testing platform for growth and enterprise companies that can dramatically increase developer productivity. The platform allows engineers to test their code in a production-like environment before it's distributed to the project repository and shared with the development team. Koality's cloud-based parallelization technology not only increases test speeds by up to 64 times, making it practical for pre-push testing, but also is deployed completely behind the engineering team's firewall to ensure project security.

"Koality has identified and solved a problem that is relevant to virtually every development team," said Kris Duggan, co-founder, chief strategy officer and former CEO of gamification platform company Badgeville. "The software development industry is under greater performance pressure than ever. It's a huge, rapidly growing market that's already demonstrated a considerable demand for Koality's product."

Koality received its start after founders Jonathan Chu, Jordan Potter and Brian Bland, all engineers at Palantir, approached Palantir Chairman Peter Thiel with their product idea. Thiel, the co-founder and former CEO of PayPal, invested in the company through his fund, FF Angel. Thiel's support helped the Koality team secure additional start-up funding from its other seed round investors.

"Every young company is eager to discover acceptance for its ideas. The broad support we've received--both financially and operationally--from Peter and our other initial investors is extremely encouraging," stated Jonathan Chu, chief executive officer of Koality. "Our executive team is looking forward to making the most of these considerable resources over the coming months."

About Koality:

http://www.koalitycode.com Koality eliminates many of the most consequential problems plaguing the software engineering process. Using cloud-based parallelism, the company's flagship product increases code testing by 2x to 64—fast enough to complete test suites at pre-push. With Koality, error-free code is distributed to repositories, security is maintained, development schedules stay on track, and productivity is increased dramatically. Founded by former Palantir Technologies engineers, San Francisco-based Koality is funded by the Webb Investment Network, Index Ventures, Felicis Ventures and others. Visit www.koalitycode.com.

SOURCE Koality