Atlanta software startup Cypress raised $40 million in a Series B round led by OpenView Venture Partners, according to a Dec. 16 press release.
Cypress, founded in 2015, produces an automated software to help developers building websites test their code. The company is led by CEO Drew Lanham, who came on in 2018 and has a record of successful startup exits, according to his LinkedIn profile.
OpenView is a growth-stage venture firm based in Boston that invests in software companies. It helped fund Atlanta’s fast-growing scheduling software firm Calendly in 2017.
Existing investors Bessemer Venture Partners and Las Olas Venture Capital participated, along with new investors Battery Ventures, Sapphire Ventures and Stripes, according to the release. The company previously raised $13 million in two other funding rounds.
Lanham told Atlanta Inno in 2019 that its investment from Bessemer Venture Partners, a Silicon Valley-based firm that invests around the world, would help put Atlanta on the map for software startups.
The funding will be used to enhance its testing software to help developers with their web- and JavaScript-based applications. Cypress also said it will expand its open-source products so developers can write their own tests, the results of which are available on the Cypress Dashboard.
The company is hiring across various fields and has seven positions, mostly based in Atlanta, listed on its website. According to LinkedIn, the company has 49 employees.
Cypress is part of Georgia’s tech incubator ATDC and has clients such as Slack, Netflix and GoDaddy.
