& cplSiteName &

S/W Test Startup Hits Vencap Jackpot

Brian Santo
1/23/2017

A company that specializes in creating testing tools for enterprise software development just hit the vencap jackpot, hauling in $165 million in Series B financing.

Vienna-based Tricentis, founded in 2009, started as a testing operation, but in recent years began developing its own tools for testing and evaluating software in agile/DevOps development environments. This part of the market is known as "continuous test."

Relatively tiny compared to its best-known rivals, Tricentis attracted attention by popping up cheek-by-jowl with IBM and Hewlett Packard Enterprise among the leaders in Gartner's Magic Quadrant for the software test market the last two years running. Forrester has also ranked Tricentis highly.


Want to know more about the companies, people and organizations driving developments in the test, monitoring and assurance sector? Check out Testapedia, the most comprehensive online resource covering the telecom test and measurement industry.


The company's claim to fame is the extent to which it has automated its process. It says that with its own tools it achieves software testing automation rates of more than 90%. Previously, using tools developed by others, it wasn't getting to 20%, it said in a blog post announcing the investment.

The company has a client list of over 400 customers that includes HBO, Whole Foods, Toyota, Allianz, BMW, Starbucks, Deutsche Bank, Lexmark, Orange and UBS.

The only participant in the round was Insight Venture Partners. In 2012, Tricentis received $9 million in its Series A. Insight Venture Partners bought out the earlier investor.

Tricentis has been putting together an annual report that tallies the number of publicly reported software failures and the estimated monetary damages associated with them. In its most recent report, released last week, scanning just English-language sources, the company found 548 recorded software fails impacting 4.4 billion people and $1.1 trillion in assets. You can download the report here.

Insight Managing Director Mike Triplett will join Tricentis' board of directors. In a statement he said, "Software quality testing has traditionally required a large amount of time and manual effort, forcing compromises between speed, scope of testing, and quality of testing. To reduce time to market and improve software quality, organizations are abandoning monolithic testing solutions, and turning to Tricentis."

— Brian Santo, Senior Editor, Components, T&M, Light Reading


CALLING ALL TEST, ASSURANCE AND MONITORING COMPANIES:
Make sure your company and services are listed free of charge at Testapedia, the comprehensive set of searchable databases covering the companies, products, industry organizations and people that are directly involved in defining and shaping the telecom test and measurement industry.



(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
Upcoming Live Events
October 1-2, 2019, New Orleans, Louisiana
October 10, 2019, New York, New York
October 22, 2019, Los Angeles, CA
November 5, 2019, London, England
November 7, 2019, London, UK
November 14, 2019, Maritim Hotel, Berlin
December 3, 2019, New York, New York
December 3-5, 2019, Vienna, Austria
March 16-18, 2020, Embassy Suites, Denver, Colorado
May 18-20, 2020, Irving Convention Center, Dallas, TX
All Upcoming Live Events
Partner Perspectives - content from our sponsors
Edge Computing, the Next Great IT Revolution
By Rajesh Gadiyar, Vice President & CTO, Network & Custom Logic Group, Intel Corp
Innovations in Home Media Terminals for the Upcoming 5G Era
By Tang Wei, Vice President, ZTE Corporation
All Partner Perspectives