Jurrasic roars: Raleigh startup Cycle Labs lands $2.5M – VCs explain deal in own words

Jurrasic roars: Raleigh startup Cycle Labs lands $2.5M – VCs explain deal in own words


Editor’s note: Kevin Mosley and Joe Colopy are general partners at Jurassic Capital.

RESEARCH TRIANGLE PARK – Today, we’re excited to announce our investment of $2.5m into Cycle Labs, a Raleigh, NC-based software company that develops and sells a continuous test automation platform to large enterprises worldwide.

The company was officially founded in 2020 inside a logistics implementation services company co-founded and previously run by Josh Owen, when they noticed their customers’ common need was continuously testing their ever-complex and expanding enterprise tech stacks.

Josh and Cycle Labs’ co-founder Evan Edwards spun the software out into Cycle Labs in mid-2021. Since inception, Cycle has become a
market leader and driven key partner relationships with major players in the logistics space and beyond.

Jurassic Capital, led by team with ties to Bronto Software, closes $20M to invest in growth-stage companies

We invested in Cycle Labs after having advised them for the last two years, allowing us to build confidence and trust over a longer period of time. As a high-growth local company with bootstrapped roots and an impressive culture, they fit Jurassic’s sweet spot perfectly, allowing us to provide guidance alongside capital.

We ultimately believe their extensive history in the space gives them an advantage of having been in the shoes of their customers.

From Josh Owen, Cycle Labs co-founder and CEO:

“As a rapidly growing B2B software company, I wanted to find a true, local partner with experience and success growing commercial organizations and Jurassic Capital aligns perfectly. They bring experience in addition to capital but even more importantly they are aligned to our culture. Kevin, Joe and the rest of the team at Jurassic have been amazing to work with so far and I can’t wait to see how this partnership accelerates our plans to scale Cycle Labs.”

You can read more about Cycle Labs at cyclelabs.io.





Source link

About the Author

Kassie Hoffman
Kassie pens down all the news from the world of politics on ANH.