Singapore-based digital experience testing company Mozark has raised $40 million (around Rs 368 crore) in its Series B funding round led by the International Finance Corporation (IFC) and RMB Capitalworks, with existing investor Kalaari Capital participating in the round.
VCCircle had reported last year that the company was in talks with investors, including IFC, to raise fresh capital.
The company plans to use the fresh capital, which included debt infusion from VentureSoul Partners, for expanding globally, including the US and the Global South, and for acquisitions.
Mozark helps organisations monitor how applications and digital services perform in real-world conditions. Its platform looks to identify performance gaps across the technology stack, from applications and AI systems to underlying infrastructure such as networks and data centers.
The company said the funding will also help develop its testing platform designed for AI-driven digital services.
As Kartik Raja and Fabien Renaudineau, founders and co-chief executive officers of Mozark, pointed out, while AI is accelerating digital services everywhere, the experience quality remains disparate and unreliable which impacts the digital divide.
“Reliable digital infrastructure is critical to productivity, inclusion, and growth in emerging markets. By strengthening the performance and reliability of the applications and networks that underpin essential services, our investment in Mozark will support innovation, skilled job creation, and broader access to digital services, helping emerging markets not only consume, but increasingly build and scale, digital solutions,” said Farid Fezoua, director for equity, funds and venture capital at IFC, which is part of the World Bank Group.
Mozark currently serves more than 50 enterprise and government clients across over 20 countries. Its customers include telecom operators, financial institutions, regulators and digital native companies. The company said its deployments run on thousands of devices and have already executed more than 25 million tests globally.
