Tricentis, a startup that helps enterprise development teams automate software testing, got a bushel of money today from Insight Venture Partners — $165 million to be exact. As part of the deal, Insight Managing Director Mike Triplett will join the Tricentis board.
In a traditional software development cycle, developers took months to create and deliver a product. Testing involved writing scripts to test all the different parts of the program from the front-end interface to the back-end connectors. When the software changed, it usually broke the scripts, and triggered a lot of time-consuming manual fixing. Today it has more than 400 customers and 260 employees worldwide. Its development team continues to be based in Austria. With $165 million in hand, the company plans to build out its sales and marketing team to keep expanding its market. Johri says his company hasn’t burned a lot of cash to this point, and he wants to keep it that way, but will keep his eyes open for strategic acquisitions.
Submitted January 23, 2017 at 09:15AM by MartEden http://ift.tt/2k8nBOm
