AI specialist Testim raises $10m
Testim, the San Francisco-based provider of AI based software testing, has announced it has closed $10 million in Series B funding led by venture capital firm Signal Fire.
Meron Capital and existing investors Light speed 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. The new funding will in part be used to bring to market Testim’s mobile app test automation platform, which is in early access.
Founded in 2014, Testim is a pioneer in using AI for the authoring, execution and maintenance of automated tests, with a platform that learns and adapts automated tests to code changes."
“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.”
“When Testim was founded, our goal was to enable software teams to author tests 20 times faster than before," Said Rubin. " 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.”
“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. “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.”
Meanwhile, 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 Cloud meter (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.