Raleigh, NC (January 12, 2022): Cycle Labs announced today the official closing of a Series A round of funding with Jurassic Capital to fuel the next stage of the organization’s growth. Cycle Labs is a software and services company dedicated to providing world-class continuous test automation via its patented and industry-leading Cycle Test Automation platform. Cycle works with fortune 500 companies around the world such as General Mills, DHL, and Driscolls, to allow organizations to change easier and stay current in their solution deployments.
Cycle Labs was launched as an independent software company in July of 2021. They began the funding process almost immediately thereafter and were successful in closing this round in less than 5 months. Cycle Labs received an incredible amount of participation interest and ultimately decided to partner with Jurassic Capital. Jurassic Capital is a Growth Equity Firm based out of Durham, NC that focuses on B2B software startups across the Southeast.
Josh Owen, CEO and Co-founder of Cycle Labs says, “It’s an exciting time to be in the enterprise software space. With software vendors moving to the cloud and enterprise organizations relying more and more on third-party software to drive critical business processes, there has never been a better time for companies to focus on streamlining solution deployment through continuous testing. The investment from Jurassic Capital provides Cycle Labs with the fuel we need to truly scale our continuous testing platform and services on a global level.” He added, “Kevin, Joe, and the rest of the team at Jurassic have been amazing to work with so far and I am looking forward to seeing how this partnership accelerates our plans to scale Cycle Labs.“
Kevin Mosley, General Partner of Jurassic Capital and Board Member for Cycle Labs says, “We’re excited to move forward officially with Josh and the team at Cycle Labs, having advised them and built up trust for the last two years before investing. As a high-growth local company with bootstrapped roots, they fit Jurassic’s sweet spot perfectly, allowing us to provide guidance alongside capital. As the enterprise software stack continues to expand, Cycle Labs’ continuous test automation platform is perfectly set up to help build confidence in complex processes at large companies. Cycle Labs’ extensive history with enterprise logistics implementations gives them an advantage of having been in the shoes of their customers.” Cycle Labs is excited to not only partner with Jurassic Capital, but also to be one of the first organizations to receive funding through their inaugural fund. To read about the Jurassic Capital fund, see their full press release.
Cycle Labs is thrilled to have closed a Series A funding so shortly after launch, further proving the market need and value of their offering. Cycle Labs plans to use this investment to fund their next stage of growth including a build-out of their commercial operations team growing sales, while also focusing on structural investments increasing the velocity of the transition to a cloud-native model over the next 12 months. This includes a large increase to total staff headcount over the next 12 months across all teams, with an emphasis in Sales and Customer Success.
About Cycle Labs
Cycle Labs is a software and services company composed of innovators dedicated to modernizing enterprise solution deployment and lowering risk through world-class test automation via their patented Cycle Test Automation software. We encourage our clients and our team to question everything and to strive for continuous, iterative improvement by making change easier. For more information, visit www.cyclelabs.io.
About Jurassic Capital
Jurassic Capital is a Durham-based growth equity firm focused on B2B SaaS and software businesses. Founded in 2019, Jurassic invests in companies and accelerates their growth with their extensive operating experience. The firm makes minority and majority equity investments in bootstrapped and lightly capitalized companies with between $1 million to $5 million annual revenue. For more information, visit jurassiccapital.com.
Courtney Shaw, CMP
Sr Marketing Manager