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CAST raises USD34.5m for growth acceleration after a strong year

CAST, a specialist in Software Intelligence, has completed an additional USD12.5 million round of capital funding.

This comes on the heels of a USD22 million investment in technology innovation over a three-year period, which focused on CAST Highlight, CAST’s SaaS-based application portfolio analysis solution that has seen 100 per cent year-over-year growth, and CAST’s Application Intelligence Platform (AIP), the most sophisticated Software Intelligence platform on the market.
CAST also intends to aggressively invest in growing partnerships with global leaders in technology consulting and services while accelerating its recruitment of top-level talent in North America, India, Germany and China.
The first quarter of 2018 was extremely dynamic with 27.9 per cent growth at constant exchange rates, while a comparison of Q1 2017 to Q1 2018 results saw growth rates at close to 40 per cent, including more than 40 deals closed with new customers, including Wells Fargo, J Hancock, Bank Sabadell, Findomestic Banca, General Electric, Fiserv and Microsoft for Saint-Gobain.
CAST partners include major consulting firms like the Boston Consulting Group and McKinsey, global systems integrators like Cognizant, IBM and Accenture, and OEM partners such as MEGA International and a myriad of high-energy, highly-skilled consulting firms specialising in system architecture, cloud migration and application security.
The Software Intelligence CAST provides is well-aligned with application security, digital transformation and portfolio modernisation goals of enterprise organisations today. In this context, CAST’s management team anticipates a CAGR of 15 per cent and a double-digit profitability margin by 2020.

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