Tricentis had raised $165 million in Series B financing from Insight Venture Partners back in January 2017.
Insight Partners-backed Tricentis, an industry leader in test automation for modern cloud and enterprise applications, announced today the acquisition of Testim, an AI-based SaaS test automation platform. Testim extends Tricentis’ own AI-powered continuous testing platform, and will help the company further simplify test automation, enabling organizations to create resilient end-to-end tests quickly and easily.
In today’s digital economy, organizations need to move faster than ever to deliver rapid innovation without compromising quality. Traditional testing frameworks, however, are slow, require extensive coding skills, are difficult to manage at scale, and often break when applications change. Testim addresses these challenges, by delivering AI-based SaaS test automation that dramatically simplifies test authoring.
According to Gartner®, “By 2025, 70% of enterprises will have implemented an active use of AI-augmented testing, up from 5% in 2021. By 2025, organizations that ignore the opportunity to utilize AI-augmented testing will spend twice as much effort on testing and defect remediation compared with their competitors that take advantage of AI.”1
Testim will expand and strengthen the existing Tricentis SaaS offerings for customers who want to adopt cloud-based testing capabilities with flexible consumption models. Tricentis customers have the flexibility to choose the products and services that best fits their needs, either self-hosted with an annual subscription model or SaaS with consumption-based pricing. A common data model and cross-product integrations allow customers to mix and match product capabilities specifically to suit their requirements.
“Tricentis aims to help customers deliver better business outcomes by producing high-quality, high-performing, and highly secure applications, no matter where or what the app might be,” said Kevin Thompson, Chairman and CEO of Tricentis. “The addition of Testim expands our already formidable lineup of testing products further into Saas and the DevOps space.”
Testim introduced its AI-based testing in 2014 to accelerate application delivery by shortening the time it takes to author tests and automatically improving tests, troubleshooting tests, and handling test diagnostics. As development teams iterate and the application evolves, Testim uses self-healing algorithms to keep the tests stable and the automation resilient. Additionally, Testim is open and flexible to integrate with the tools and workflows of software teams, including CICD and collaboration tools.
“We are very excited to join Tricentis,” said Oren Rubin, Founder and CEO of Testim. “Tricentis has built a comprehensive offering to support the full testing lifecycle across the enterprise application landscape. The unique capabilities of both companies complement one another perfectly, and devs around the world will enjoy a more robust, comprehensive platform and higher productivity.”
Tricentis is a global leader in enterprise continuous testing, widely credited for reinventing software testing for DevOps, cloud, and enterprise applications. The Tricentis continuous testing platform provides a new and fundamentally different way to perform software testing. An approach that’s automated, low code, and powered by AI. Tricentis addresses both agile development and complex enterprise apps, enabling enterprises to accelerate their digital transformation by dramatically increasing software release speed, reducing costs, and improving quality. Tricentis has been widely recognized by major industry analysts, including being named the leader in Gartner’s Magic Quadrant for five years in a row. Tricentis has more than 2,100 customers, including the largest brands in the world, such as McKesson, Accenture, Nationwide Insurance, Allianz, Telstra, Dolby, and Vodafone. To learn more, visit https://www.tricentis.com/ or follow us on LinkedIn, Twitter, and Facebook.
1 Gartner, “Market Guide for AI-Augmented Software Testing Tools,” Joachim Herschmann, Thomas Murphy, Jim Scheibmeir, December 17, 2021. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.