You might have already seen our press release announcing that Tricentis has raised $165 million in Series B financing from Insight Venture Partners. This new investment comes after proving to the market the maturity, viability, and scalability of our Continuous Testing technology. We are helping 400+ customers such as ExxonMobil, Vantiv, Vodafone, and Starbucks achieve software testing automation rates of more than 90%. Gartner and Forrester have also validated our industry leadership position as Continuous Testing market leaders.
Tricentis began as a testing services company. With the opportunity to evaluate almost every tool on the market, it soon became clear that none were good enough for the job. After years of struggling to create and maintain brittle scripts, organizations were still achieving test automation rates of less than 20%. To innovate at the speed their business demanded, they needed more flexible, sophisticated, and easier ways to automate their testing.
That’s why Tricentis changed paths and focused on delivering the market’s most innovative functional testing technologies—solutions that make test automation a reality even for manual testers and the extremely complex scenarios that no other tool can automate. Now that Agile and DevOps have made Continuous Testing and extreme test automation essential, our ability to deliver unprecedented automation rates of over 90% has drawn tremendous attention from both analysts and enterprises. This investment by Insight validates our vision for software testing and will help us advance innovations that assist enterprises to control business risks during the next waves of digital disruption.
What does this mean for our customers? The funding will provide us with additional capital to invest in the business and grow aggressively. We are fully committed to providing innovative testing products, and this investment will help us advance and expand the technologies on our roadmap. We will be sharing some specific plans at Accelerate 2017 this October. We hope to see you there.