Austria-based software testing company Tricentis is acquiring its second Israeli startup, following its acquisition of TestProject in 2019 and converting it to a local R&D center.
The Israeli startup Testim is an AI-based testing platform for accelerating application delivery by reducing the time required to author tests and automatically enhancing, debugging, and managing test diagnostics.
Founded in 2014 by CEO Oren Rubin, Testim has raised $18 million to date, from SignalFire, Meron Capital, Lightspeed Venture Partners, and NHV. The company employs around 60 people, 35 of whom are based in Tel Aviv, and will join Tricentis’ workforce.
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The software testing market has historically been successful for Israeli companies, among them Perfecto, which was acquired by Perforce for $200 million in 2018. and Mercury, which was acquired by HP for $4.5 billion in 2006.
Tricentis currently serves over 2,100 customers, including McKesson, Accenture, Nationwide Insurance, Allianz, Telstra, Dolby, and Vodafone.
The company’s yearly sales are believed to be around $110 million, and it employs approximately 1,000 people. American VC Insight Partners invested $165 million in the company in 2017, becoming its largest shareholder.
Tricentis is largely credited with revolutionizing software testing for DevOps, cloud, and enterprise apps. Tricentis’ continuous testing platform introduces a completely new approach to software testing. A method that is automated, low-code, and AI-powered. Tricentis has received widespread recognition from leading industry analysts, including five consecutive years as the leader in Gartner’s Magic Quadrant.
Tricentis customers have the option of self-hosting with an annual subscription plan or using SaaS with consumption-based pricing. Customers can mix and combine product features to meet their individual requirements using a common data model and cross-product interfaces.
Testim will complement and enhance Tricentis’ existing SaaS products for customers seeking cloud-based testing capabilities with flexible consumption models.
“Tricentis has developed a comprehensive offering that spans the entire testing lifecycle for enterprise applications. The complementary skills of both firms ensure that developers worldwide will benefit from a more robust, comprehensive platform and increased productivity,” said Oren Rubin, Founder and CEO of Testim.
“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.”
