AUSTIN, TX – May 6, 2025 – Tricentis, a global leader in continuous testing and quality engineering, today announced 2024 momentum for the company, with accelerating revenue growth across all major geographic regions, continued customer growth, expanded platform solutions and a $1.33 billion strategic investment from GTCR. Tricentis’ AI-powered quality engineering solutions continue to drive meaningful impact for customers, including through its partnerships with SAP, Oracle, Workday, and Salesforce.

“2024 marked another year of record growth for Tricentis, showcasing the critical nature of quality engineering solutions for enterprise-level organizations across industries and geographies,” said Kevin Thompson, Chief Executive Officer, Tricentis. “As AI revolutionizes the software development market, we continue to harness these new technologies to deliver high-quality software across any environment, organization size, and number of applications with the most extreme levels of complexity.”

Global growth and expansion

Received a $1.33 billion strategic investment from private equity firm GTCR; joins existing investor Insight Partners to fuel continued growth
Total revenue reached approximately $400 million, driven by a robust 26% year-over-year growth in subscription revenue; Annualized Revenue Rate (ARR) continues to remain consistent in achieving 20+% year-over-year growth, culminating in ARR exceeding $400 million
Record year in public sector driven by a 150% increase in federal sales and 300% year-over-year growth in education
Continued strong ARR growth across all major geographic regions – North America, EMEA, and APAC
Opened new offices in the Middle East (Dubai) and Japan (Tokyo)
Appointed Damien Johnson as Field CTO for Americas and Dan Melville as Vice President of Middle East and North Africa (MENA)
Continued growth with key partners SAP, Oracle, Workday, and Salesforce across industry sectors

AI expansion and integrating quality intelligence

Accelerated AI-powered quality engineering solutions across platform, including Tricentis qTest Copilot, Tricentis Tosca Copilot, and Tricentis Testim Copilot
Acquired and fully integrated SeaLights solution, further increasing Tricentis’ market leadership in quality intelligence by adding expanded capabilities for unparalleled visibility and insights into code and tests throughout the continuous integration and continuous deployment (CI/CD) pipeline
Enhanced Tricentis Tosca, bringing end-to-end test automation to the cloud for the enterprise

Industry-leading recognition

Awarded DevOps Dozen Award for ‘Best Testing Service/Tool’ for Tricentis SeaLights
Received SAP EMEA Solutions Extensions Strongest Growth Award
Received Vogel IT Awards Platinum Award for ‘Testing and Composition Analysis’
Senior Vice President of Global Public Sector, Ben Baldi, recognized as a winner of the FORUM IT 100 Award in Federal Technology Consulting
TrustRadius Top Rated Awards for Tricentis NeoLoad and Tricentis qTest
Selected as Top 100 Private Software Companies by D.A. Davidson Companies
Named as a Representative Vendor in the February 2024 Gartner Market Guide for AI-Augmented Software-Testing Tools

Tricentis was founded in 2007 in Vienna, Austria. Today, Tricentis is a U.S. corporation headquartered in Austin, Texas, with a total of 28 offices globally.

Additional resources

Press release: GTCR Makes $1.33 Billion Investment in Tricentis
Press release: Tricentis Opens New Office in Japan, Continues Expansion into APAC Region
Webinar: Introducing Tricentis Copilot: AI Assistants for Test Automation at Scale
Blog: Tricentis Acquires AI-Powered Quality Intelligence Platform SeaLights
Press release: Tricentis Expands in Middle East with New Office in Dubai

About Tricentis

Tricentis is a global leader in continuous testing and quality engineering. The Tricentis AI-based, continuous testing portfolio of products provides a new and fundamentally different way to perform software testing. An approach that’s totally automated, fully codeless, and intelligently driven by AI. It addresses both agile development and complex enterprise apps, enabling enterprises to accelerate their digital transformation by dramatically increasing software release speed, reducing costs, and improving software quality. Widely credited for reinventing software testing for DevOps, cloud, and enterprise applications, Tricentis has been recognized as a leader by all major industry analysts, including Forrester, Gartner, and IDC. Tricentis has more than 3,000 customers, including the largest brands in the world, such as McKesson, Allianz, Telstra, Dolby, and Vodafone. To learn more, visit https://www.tricentis.com.

Media Contacts
Tricentis
Courtney Cantwell
c.cantwell@tricentis.com 