Testim Raises $10 Million After 700 Percent Market Growth

SAN FRANCISCO, June 12, 2019 /PRNewswire/ -- Testim, a leading provider of AI based software testing, today announced it has closed $10 million in Series B funding to address the global demand for continuous testing allowing development teams to move at the speed of business without compromising software quality. This funding round was led by SignalFire. Meron Capital and existing investors Lightspeed Venture Partners, NHN Ventures and Spider Capital also participated in the round, bringing the total amount of capital Testim has raised to $19.5 million.

"To remain competitive, software teams must move faster than ever," said Oren Rubin, founder and CEO of Testim. "We are helping them test more with much less effort, reducing their release risk and increasing their velocity to market."  

Software releases that were once planned on a monthly basis now occur weekly with updates almost every day. Application development organizations are using AI-enabled test automation to streamline the software testing process at each stage of the DevOps lifecycle. The shift to AI-based testing is being driven by the need for continuous and faster development that does not compromise the quality of the delivered software.

Rubin continued, "When Testim was founded, our goal was to enable software teams to author tests 20 times faster than before. No one believed it was possible but by continuously innovating and leveraging new technologies, we met that goal. Now, we have a more ambitious one - to author 150 times faster through autonomous testing."

Testim's platform, which uses artificial intelligence to speed up test authoring and dramatically reduce test maintenance, ensures that companies can sustain a fast release cadence with the highest quality software. The new funding will also bring to market Testim's mobile app test automation platform, which is in early access.

"We invested in Testim early because we recognized its leadership and innovation in the fast-growing test automation space," said Ilya Kirnos, founding partner and CTO of SignalFire. "We've already seen Testim win customers like Autodesk, NetApp, LogMeIn, Sprinklr and JFrog. With 700 percent market growth in less than two years, Testim is on track to disrupt the $37 billion testing market with its technology innovation."

Ronit Belson recently joined Testim as its chief operating officer. She brings startup and enterprise experience from the DevOps space, leading companies and teams at Cloudmeter (acquired by Splunk), OpTier (acquired by SAP) and Rollout.io. Belson's background in scaling high performing teams will support Testim's plans to grow operations in North America and attract new hires across all departments including engineering, product, sales, marketing and customer success.

Company accomplishments:

• First to introduce AI-based test authoring for native mobile applications
• Achieved goal of allowing customers to author 1000 tests in a single month
• 2019 SD Times 100 'Best in Show' in Software Development for Testing

Customer quotes

JFrog
"As an Agile software development organization, at JFrog, we rely on automated code testing coverage. This allows us fast releases while ensuring our customer experience and software quality," said Eli Givoni, QA and release manager at JFrog. "Writing a reliable UI functional test is an art and requires experience. Using Testim, engineers that have never written a single Selenium test can easily create stable quality tests with the right coverage that we need."

LogMeIn
"We picked what we thought was the most mature product of all those we had evaluated. Testim actually made record and playback work for modern web apps, making it easier for non-technical team members to author tests. It is quite easy to use and straightforward," said Tamir Daniely, software development engineer in test at LogMeIn.

Figure8
"Testim.io's mobile product is so intuitive that we're able to create a good test suite for our Android app that integrates with our CD process using very little effort," said Rotem Itzhak, head of mobile at Figure8. "Testim is also easy to manage by our QA team, leaving our dev teams more time to add features and change our app at a faster pace."

To learn more about Testim or to schedule a demo, please visit www.testim.io.

About Testim
Founded in late 2014, Testim helps companies accelerate time-to-market, improve software quality and integrates into agile processes. With offices in San Francisco and Tel Aviv, the company is a pioneer in using AI for the authoring, execution and maintenance of automated tests. Included in the 2019 SD Times 100: 'Best in Show' in Software Development for Testing, the Testim platform learns and adapts automated tests to code changes, reducing 90 percent of maintenance time and 70 percent of authoring time. NetApp, Autodesk, Swisscom, LogMeIn, and others run over 2,000,000 tests using Testim every month.

Contact: 
Claudine Caruso
Lightspeed PR
631-449-2745
[email protected]

SOURCE Testim