Tricentis Scores $165 Million

 

LOS ALTOS, CA and VIENNA –- Tricentis, which provides software testing for corporations, has raised $165 million in Series B financing from Insight Venture Partners. Tricentis has headquarters in Silicon Valley and Austria.

According to Nelson Hall, the global software testing market is expected to be a $34 billion industry in 2017. Tricentis today helps more than 400 companies – including HBO, Whole Foods, Toyota, Allianz, BMW, Starbucks, Deutsche Bank, Lexmark, Orange and UBS – achieve software testing automation rates of more than 90 percent. Tricentis Tosca has been proven to achieve 10 times the test-automation efficiency of tools that employ manual scripting.

“As a high-end brand, Swarovski is committed to responding fast to global trends, and embracing new technology that’s part of our customers’ lives. We need to master the increasing speed of change in our Omni-Channel world with its significant number of end-to-end processes and the related fast-evolving digital platforms,” said Max Braun, CIO of Swarovski. “With Tricentis’ capabilities in risk management, test automation and test management, we could significantly enhance our testing processes and decrease the efforts in that area, with the clear target to meet the demand of our business partners and ultimately, the demand of our customers.”

“Today’s predominately manual software testing processes fail to meet the needs of today’s Agile and DevOps initiatives, which require highly-accelerated development cycles and, at the same time, a strict accounting for the business risks associated with rapid, iterative code changes,” said Sandeep Johri, CEO of Tricentis. “Applications drive corporate growth, and continuous testing has been identified as the linchpin to achieve agility and ultimately competitive differentiation.”

According to Narsimha Rao Mannepalli, EVP – Head Global Services, Infosys Validation Solutions, Infosys: “Infosys helps organizations become more competitive in their digital and enterprise transformation journey through its latest QA offerings and IP solutions. Our partnership with Tricentis has benefited our clients in realizing higher automation and faster time to market. We congratulate Tricentis on this new milestone, which further validates their innovative approach to reducing software testing time, effort and cost.”

Tricentis, which serves customers from its operations in the United States, Europe, India and Australia, will use the funds to continue accelerating its market penetration and scale its operations.