Tricentis surpasses $100 million in ARR in 2019

The new year is the season for setting goals, both in business and in our personal lives. It is also a time to reflect on the year that has drawn to a close. As I reflect on 2019, I am confident I will remember it as one of the most exciting years in my professional career, as well as for all of us at Tricentis.

In 2019, Tricentis reached $100 million in annual recurring revenue (ARR), exceeding our goal and achieving a rare feat for a private company.

You might be wondering why this is worthy of announcing and what sort of impact it has on our customers and the wider community. Yes, we are proud of our accomplishment, and that we did what we set out to do. (How many of us can say the same about the personal resolutions we set one year ago?) This achievement signifies something much greater than our ability to follow through. It shows that we are in the right place – and by “we” I mean all of us in the testing industry – and that testing is absolutely, indisputably critical to a modern enterprise’s success. Of course, many of us have known that all along.

I have witnessed (and, I hope, positively influenced) the evolution of general opinions about software testing over the past year. In 2019, I regularly had conversations about the importance of software delivery and quality with all manner of C-Suite leaders – many of whom five years ago would not have been able to tell me what they were spending on testing or why. More and more leaders are recognizing that legacy methods of testing (often manual or siloed) are the No. 1 inhibitor to software innovation at speed, and modernizing it through automation is key to successful digital transformation.

In a recent survey we conducted with TechWell, we looked at how testing approaches differ according to an organization’s level of DevOps maturity. Among respondents who reported successfully completing DevOps transformation, 80% said their businesses prioritized testing as part of the transformation effort. These organizations also reported significantly higher rates of test automation.

According to Gartner, who in 2019 rated Tricentis a leader in the Magic Quadrant for Software Test Automation for the fifth year in a row, “Application leaders driving DevOps initiatives require effective test automation to succeed.”*

As DevOps adoption grows, we can only expect the momentum to continue. At Tricentis, we recognized these (then-emerging) trends when we set out to enable manual testers to become test automation engineers. Since, we have seen many of our customers progress from zero to 90%+ test automation rates using Tricentis Tosca’s model-based approach. And the benefits have been truly impressive, with massive gains in the speed of software delivery while also raising software quality. Today, we have extended our platform to cover an enterprise’s testing needs end-to-end, from mainframe to mobile and everything in between.

Additional 2019 highlights include:

• The acquisition of LiveCompare, an AI-powered impact analysis tool for SAP updates which exposes the risks to critical business processes lurking in any standard or custom change and enables organizations to deliver SAP upgrades 85% faster with 100% test coverage.
• Significant enhancements across the platform, including portfolio-level test analytics, a cloud-based test design experience, broader support for the open source community with TestProject and much more. (See all product updates here.)
• Our largest Accelerate conference ever, with more than 1,600 attendees joining us for 100+ educational sessions in Vienna last November.
• The Tricentis Academy awarded its 100,000th certification, demonstrating the strength of our community and our world-class certification programs.
• Significant Global 2000 customer growth – in 2019, we welcomed more than 200 enterprises to our community of 1,600+ global enterprise customers and expanded our relationship with many others – including InterContinental Hotels Group, Guardian Life Insurance, McKesson and many more.

Of course, all of this would not have been possible without the dedication of our team, our customers, our partners and our community. I look forward to continuing to build momentum in 2020.

Gartner Magic Quadrant for Software Test Automation Joachim Herschmann, Thomas E. Murphy, Jim Scheibmeir November 25, 2019.