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Chaos engineer Steadybit raises millions in fresh funding

Steadybit's team during a recent trip to Amsterdam
Steadybit's team during a recent trip to Amsterdam

Chaos engineering firm Steadybit has raised around $6 million in fresh funding, the Germany-based company told QA Financial.

The funding round, which was led by Paladin Capital Group, allows the company to make new and additional investments in its hugely popular chaos engineering platform.

Fresh allocations came from existing investors Boldstart Ventures, Angular Ventures, and NewForge.

The new funding will be used to help Steadybit expand its teams in product development, engineering, sales, and marketing.

Ken Pentimonti
Ken Pentimonti

Ken Pentimonti, managing director of Washington-based Paladin Capital Group, explained to QA Financial why his firm decided to pump more capital into Steadybit.

“As digital systems become more complex and interdependent, organisations are at greater risk of failures and system outages,” he said.

“Many products fail to meet customer expectations as software engineering teams are focused on releasing new features quickly rather than product reliability,” Pentimonti continued.

“Organisations that interface with customers digitally are realising that service reliability is a key priority for growth and customer retention,” he noted, pointing out that “this is fueling demand for Steadybit’s platform, designed to reduce outages and provide visibility into distributed systems to detect issues.”

Advice feature

A range of large banks, financial services firms and other large companies have integrated the solution to pre-empt and mitigate system vulnerabilities, enhance their overall performance and user experience.

Chaos engineering, a practice that ensures systems are robust and resilient against unpredictable online environments, is increasingly a priority for QA teams within the financial services space and other industries.

Benjamin Wilms
Benjamin Wilms

Steadybit’s platform is able to simulate disturbances and potential failures.

Alongside the funding announcement, Steadybit is introducing a reliability advice feature which monitors all information collected about the system under observation to discover potential reliability gaps.

Users are given instructions on how to fix errors and offered experiments that validate the effectiveness of those interventions, creating their own libraries of good engineering practices, explained Benjamin Wilms, CEO and co-founder of Steadybit.

He said the fresh funds “allow us to continue to expand our offerings and redefine how organisations approach system reliability. The new [advice] feature will empower our customers to manage their systems proactively.”

Wilms concluded by stressing that “as the demand for accessibility tools grows, tools like this one become essential for businesses to ensure their digital content is accessible to all.”

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