Dow Jones Venture Wire
By Staff Reporters
9/12/2006
Mountain View, Calif. -- SOASTA Inc., a developer of automated code-testing tools for Web services programming, has appointed Tom Lounibos president and chief executive.
Lounibos began in his new position yesterday.
He takes over from SOASTA founder and Chief Executive Ken Gardner, who is shifting to the role of chairman. Company spokeswoman Lisa Bergamo described the transition as an amicable one and said Gardner had been seeking out a chief executive since the company opened its doors in early 2006.
Prior to joining SOASTA, Lounibos served as president and chief executive of Web services company Kenamea Inc. He also previously served as president and chief executive of Dorado Corp., a financial services software company.
SOASTA software tools are designed to automate Web testing. The company's CloudTest Web testing product is targeted at business users, consultants, sales engineers, developers and analysts.
The company, based in Mountain View, Calif., has 12 employees. SOASTA completed a first round of funding in April, raising $2.2 million. The round was led by Canaan Partners and included participation by individual investors.
Bergamo said the company would be raising a second round of funding before the end of 2006, but she would not disclose the amount SOASTA will seek.
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