Web Services Testing Wares Pass $29M VC Test

Web services are in their infancy, but Empirix is already making software to test them. Empirix, which also provides testing and monitoring technology for Web, voice, and network applications, took home $29 million in third-round funding last week.

The Waltham, Mass., company offers software that, among other things, lets users test how many hits a Web service can handle at one time. Empirix also provides products that let companies keep tabs on and test Internet applications, such as online trading and E-commerce systems, to keep them running. That market is expected to grow to more than $500 million by year's end, according to market-research firm the Newport Group.

Empirix spun off from Teradyne in 2000 and merged with Hammer Technologies and RSW Software, also Teradyne spin-offs. Investors in the latest funding round included Lehman Brothers and Matrix Partners.