SmartBearrevenue & acquisition

Software Testing Tools450 Artisan Way, Somerville, MassachusettsFounded 2003

SmartBear was acquired by Vista Equity Partners and Francisco Partners.

SmartBear makes software quality tools for development teams: Swagger and ReadyAPI for API design and testing, TestComplete for test automation, Zephyr and QMetry for test management, and BugSnag for observability. Jason Cohen started it in 2003.

smartbear.com LinkedInUpdated Oct 30, 2026

Annual revenue: $150M; Oct 2020EST
Owner: Vista Equity Partners and Francisco Partners; Date not on record
Employees: 826; Jul 2023
Customers: 32K

SmartBear revenue

SmartBear's last reported revenue was approaching $100M in November 2017 (Justin Teague on camera; this year's target: just under it). Press & News puts it at about $150M a year (October 2020).

$50M

$100M

$150M

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$100M

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$150M

20032004–1620172018–192020

ReportedEstimateFounded 2003 at $0; every reading has its own bar

All 2 revenue readings, with sources

As of	Revenue	Source
Nov 2017	Approaching $100M	Justin Teague on cameraWatch at 7:48this year's target: just under it
Oct 2020	$150MEST	Press & News estimate

Who owns SmartBear

Vista Equity Partners and Francisco Partners owns SmartBear. The date and price of the deal are not on record.

Interviews with Justin Teague

Nathan Latka has interviewed SmartBear once, speaking with Justin Teague. Each figure links to the second it was said.

Watch

November 2017 · Justin Teague, CEO

How SmartBear Approached $100M in 2017 With 10,000 Customers and 115% to 120% Net Retention (Interview with CEO Justin Teague)

RevenueApproaching $100M (this year's target: just under it)Watch at 7:48
Customers10,000Watch at 7:45
Net revenue retention115% (his range runs up to 120%)Watch at 11:11
GrowthMid twenties percent a year (his words: 'We're now in the mid twenties')Watch at 9:36
Employees400Watch at 16:56

Read the interview Watch

Growth tactics they described: Blog ContentWatch at 17:53Free ToolsWatch at 1:43AcquisitionsWatch at 3:59

SmartBear CEO, founders & employees

Jason Cohen founded SmartBear in 2003. Jose Morales was CEO. SmartBear had 826 employees (July 2023).

Jose MoralesCEO
Jason CohenFounder
Justin TeagueInterviewed by Nathan Latka
1 interview

Also at SmartBearRichard Wells

Formerly at SmartBearFrank Roe

250

500

750

400

433

489

535

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826

20172018201920202021–222023

ReportedOne figure per year; a reported figure wins over an estimate

All 6 headcount readings, with sources

As of	Employees	Source
Jul 2023	826	–
Dec 2020	535	–
Jun 2020	553	–
Dec 2019	489	–
Dec 2018	433	–
Nov 2017	400	Justin Teague on cameraWatch at 16:56

SmartBear FAQ

What was SmartBear's revenue?

A news report estimates SmartBear's revenue at about $150M a year (October 2020). The last reported figure was approaching $100M in November 2017 (this year's target: just under it), as Justin Teague said on camera.

Who owns SmartBear?

Vista Equity Partners and Francisco Partners owns SmartBear.

How many employees does SmartBear have?

SmartBear had 826 employees in July 2023.

Who founded SmartBear?

Jason Cohen founded SmartBear in 2003.

How this page is sourced

7 said on camera · 1 estimate. Founder figures link to the second they were said; public figures name their source; estimates are marked EST and say whose they are. Not financial advice.

Updated Oct 30, 2026Data disclaimer Report a correction Claim this profile