Tricentis Raises $165M To Rival Software Testing Leaders﻿

Tech startup Tricentis just raised a major venture capital funding round in effort to take on top rivals like Hewlett Packard Enterprise and Microsoft.

Reports Monday (Jan. 30) said Tricentis raised $165 million last week for its software testing services. The Series B funding will help the company expand its footprint in the software testing market, which CEO Sandeep Johri said is slowed down by manual testing.

“Using our tools, enterprises can reduce the amount of manual testing to 10 percent to 25 percent,” he said in an interview with Forbes this month. “We promise a tenfold increase in efficiency compared to manual waterfall testing and can help companies go from monthly code releases to three or four per week.”

Waterfall testing involves an enterprise identifying a function it needs and handing that off to coders to develop a solution for that function. After, testers assess that software, identify bugs then hand the software back to coders to fix. Once most of the bugs have been identified and fixed, the software goes into beta testing, where even more are discovered. The process is cumbersome and expensive for enterprises, reports said.

Reports noted that Tricentis may rival top players like Microsoft and HPE thanks to its more affordable price point.

The waterfall testing process hasn’t gone ignored by startups and innovators. Earlier this month, Paragon Application Systems and RS Software announced a partnership with a similar mission to streamline the software and technology testing process.