Testim closed $10 million in Series B funding to address the global demand for continuous testing allowing development teams to move at the speed of business without compromising software quality.
This funding round was led by SignalFire. Meron Capital and existing investors Lightspeed Venture Partners, NHN Ventures and Spider Capital also participated in the round, bringing the total amount of capital Testim has raised to $19.5 million.
"To remain competitive, software teams must move faster than ever," said Oren Rubin, founder and CEO of Testim. "We are helping them test more with much less effort, reducing their release risk and increasing their velocity to market."
Software releases that were once planned on a monthly basis now occur weekly with updates almost every day. Application development organizations are using AI-enabled test automation to streamline the software testing process at each stage of the DevOps lifecycle. The shift to AI-based testing is being driven by the need for continuous and faster development that does not compromise the quality of the delivered software.
Rubin continued, "When Testim was founded, our goal was to enable software teams to author tests 20 times faster than before. No one believed it was possible but by continuously innovating and leveraging new technologies, we met that goal. Now, we have a more ambitious one - to author 150 times faster through autonomous testing."
Testim's platform, which uses artificial intelligence to speed up test authoring and dramatically reduce test maintenance, ensures that companies can sustain a fast release cadence with the highest quality software. The new funding will also bring to market Testim's mobile app test automation platform, which is in early access.
"We invested in Testim early because we recognized its leadership and innovation in the fast-growing test automation space," said Ilya Kirnos, founding partner and CTO of SignalFire. "We've already seen Testim win customers like Autodesk, NetApp, LogMeIn, Sprinklr and JFrog. With 700 percent market growth in less than two years, Testim is on track to disrupt the $37 billion testing market with its technology innovation."
Ronit Belson recently joined Testim as its chief operating officer. She brings startup and enterprise experience from the DevOps space, leading companies and teams at Cloudmeter (acquired by Splunk), OpTier (acquired by SAP) and Rollout.io. Belson's background in scaling high performing teams will support Testim's plans to grow operations in North America and attract new hires across all departments including engineering, product, sales, marketing and customer success.