Tricentis Raises $165 Million in Series B Financing
January 25, 2017

Tricentis raised $165 million in Series B financing from Insight Venture Partners, a leading global private equity and venture capital firm.

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.

“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.”

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. Pacific Crest Securities, Technology Specialists of KeyBanc Capital Markets, acted as exclusive financial advisor to Tricentis on this transaction. O’Melveny & Myers LLP, acted as U.S. legal counsel to Tricentis and Wolf Theiss acted as Austrian legal counsel to Tricentis.

As part of the transaction, Insight Managing Director Mike Triplett, who is a long-term investor in key infrastructure technology companies, will join Tricentis’ board of directors. Since its founding, Insight Venture Partners has raised more than $13 billion and invested in more than 250+ growth-stage software, Internet, and data services companies.

According to Triplett, “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. This is evidenced by its strong growth rate, Global 2000 customers, and industry recognition from Gartner and Forrester.”

Share this

Industry News

September 24, 2020

NetApp announced the availability of Elastigroup for Microsoft Azure Spot Virtual Machines (VMs).

September 24, 2020

CloudBees announced a robust new set of DevSecOps capabilities for CloudBees CI and CloudBees CD. The new capabilities enable customers to perform early and frequent security checks and ensure that security is an integral part of the whole software delivery pipeline workflow, without sacrificing speed or increasing risk.

September 24, 2020

Pulumi announced the release of a Pulumi-native provider for Microsoft Azure that provides 100% coverage of Azure Resource Manager (ARM), the deployment and management service for Azure that enables users to create, update and delete resources in their Azure accounts.

September 23, 2020

Puppet announced new Windows services, integrations and enhancements aimed at making it easier to automate and manage infrastructure using tools Windows admins rely on. The latest updates include services around Group Policy Migration and Chocolatey, as well as enhancements to the Puppet VS Code Extension, and a new Puppet PowerShell DSC Builder module.

September 23, 2020

Red Hat announced the release of Red Hat OpenShift Container Storage 4.5, delivering Kubernetes-based data services for modern, cloud-native applications across the open hybrid cloud.

September 23, 2020

Copado, a native DevOps platform for Salesforce, has acquired ClickDeploy.

September 22, 2020

CloudBees announced general availability of the first two modules of its Software Delivery Management solution.

September 22, 2020

Applause announced the availability of its Bring Your Own Testers (BYOT) feature that enables clients to manage their internal teams – employees, friends, family members and existing customers – and invite them to test cycles in the Applause Platform alongside Applause’s vetted and expert community of testers.

September 22, 2020

Kasten announced the integration of the K10 data management platform with VMware vSphere and Tanzu Kubernetes Grid Service.

September 21, 2020

PagerDuty entered into a definitive agreement to acquire Rundeck, a provider of DevOps automation for enterprise.

September 21, 2020

Grafana Labs announced the release of Grafana Metrics Enterprise, a modern Prometheus-as-a-Service solution designed for the scale, architecture, and security needs of enterprises as they expand their observability initiatives.

September 21, 2020

Portshift's Cloud Workload Protection platform is now available through the Red Hat Marketplace.

September 17, 2020

env0, a developer of Infrastructure-as-Code (IaC) management software, announced the availability of its new open source solution for Terraform users, Terratag.

September 17, 2020

Push Technology announced a partnership with Innova Solutions, an ACS Solutions company, specializing in global information technology services.

September 17, 2020

Alcide achieved the AWS Outposts Ready designation, part of the Amazon Web Services (AWS) Service Ready Program.