Mozark, a Singapore-based artificial intelligence (AI)-native digital experience testing and measurement company, plans to kick off a USD 50m-100m Series C in around 12 months, according to co-founder and co-CEO Kartik Raja.

The company will target US financial and strategic investors and expects to appoint a financial advisor ahead of the process, Raja said. It aims to close the round within six months of launch.

Mozark will also look to hire an accounting firm this year with a presence in Singapore, “likely one of the Big 6,” he added.

A key objective of the fundraising is to support Mozark’s goal of expanding its US business, which currently accounts for 25% of revenue, so that it becomes the majority of the company’s revenue within the next two years, Raja said.

Series C proceeds will also support the launch next quarter and ongoing updates of an AI infrastructure data report tracking how AI infrastructure is performing globally, Raja said. Part of the funding will be used to acquire new customers by buying out third-party manual testing contracts and converting those engagements to agentic testing workflows.

Mozark’s AI platform monitors and analyzes end-user digital experience across mobile apps, websites, video, and network services, enabling companies to identify performance issues and optimize service quality in real time. It will soon release a solution that allows agentic testers to operate on private device clouds, Raja said.

The company generates between USD 10m and USD 20m in annual recurring revenue (ARR) and has been EBITDA positive for the past two years, according to Raja. Revenue is expected to grow at least 100% annually in the coming years, he added, noting more enterprises are shifting from manual to automated testing solutions.

Industry multiples vary widely, from 4x–5x ARR to as high as 15x–20x ARR, Raja said.

Mozark has 50–60 enterprise customers across sectors including telecommunications, public sector, banking, and digital-native businesses, Raja said. They include Sony, Google Pay, and the Federal Communications Commission (FCC).

Approximately half of Mozark’s revenue comes from digital infrastructure providers and private network operators, while public sector customers account for about one-quarter, Raja noted.

Currently, about 50% of revenue is generated from Southeast Asia and France, while India and the Middle East represent roughly 25%, Raja said. The company is also growing in Africa.

Mozark was founded in 2019 by Raja, co-CEO Fabien Renaudineau, and Chief Product Officer Chandrasekar Ramamoorthy. The co-founders retain a combined majority ownership stake, Raja said.

Raja previously founded telecommunications analytics companies PhiMetrics and RedPill Solutions, the latter which was acquired by IBM in 2009 for undisclosed terms, he added.

Mozark has raised a total of USD 48m to date, including a March 2026 Series B financing worth USD 40m, which consisted of USD 25m upfront capital and an additional USD 15m to be provided after one year, according to Raja. Investors include IFC; RMB Capitalworks, the private equity arm of Rand Merchant Bank; and Kalaari Capital.

Raja said Mozark could be positioned to exit in two to three years, with a sale to a strategic being the most likely outcome.

He noted other players in the space as BrowserStack, which focuses on application testing; WiredScore, which rates and certifies building connectivity and digital infrastructure; and network performance and observability providers such as Ookla, ThousandEyes, AppDynamics and SamKnows.

Recent sector deals, according to Raja, include Accenture’s March 2026 agreement to acquire Ookla for USD 1.2bn and Meter’s September 2024 acquisition of WiredScore for undisclosed terms.

Raja said Mozark differentiates itself from peers by offering an AI-native, end-to-end testing platform spanning infrastructure through application performance.

Mozark has close to 100 employees and additional offices in Mumbai, India; Paris; Petaling Jaya, Malaysia; Pasig City, Philippines; and Wilmington, Delaware in the US. It works with international law firm CMS, Raja said, and has engaged Grant Thornton on diligence matters in the past.