Automated software testing platform Testim has raised $10 million in a series B round of funding led by SignalFire, with participation from Lightspeed Venture Partners, Meron Capital, NHN Ventures, and Spider Capital.
Founded in 2014, Testim is one of a number of startups offering companies artificial intelligence (AI)-based tools to continuously test their software. Indeed, quality assurance (QA) is a core component of software development, but it can be a time-consuming endeavor. Automating many of the processes helps speeds things up and minimize bugs in public-facing versions of products.
“To remain competitive, software teams must move faster than ever,” noted Testim founder and CEO Oren Rubin. “We are helping them test more with much less effort, reducing their release risk and increasing their velocity to market.”
The company claims some big-name clients, including Autodesk, NetApp, LogMeIn, Sprinklr, and JFrog.
The Testim platform currently supports web applications and is capable of analyzing thousands of parameters for each element, ranking them based on reliability. The more Testim is exposed to an app, the more it “learns” what is correct and improves. Developers can create tests by coding, recording, or combining the two, and any stage of the tests can be reused on other tests.
The automated software testing market was pegged at $8.5 billion in 2018, a figure that could grow to nearly $20 billion within five years. Judging by recent activities, investors are keen to keep apace with this anticipated growth. Last year, Alphabet’s VC arm GV led a $20 million investment in Mabl, which is similar to Testim, while Austria’s Tricentis nabbed a chunky $165 million funding round the year before. Internally, companies such as Facebook are investing in their own automated tools to ensure their services are bug-free.
Testim had previously raised around $8 million, including its $5.6 million series A round from 2017, and with another $10 million in the bank it’s now setting out to grow its headcount and bring a new product to market. Indeed, Testim is working to expand its platform to cover native mobile apps, having released a beta program for customers earlier this year. While this will work in much the same way as the existing web service, with mobile apps the user will of course be required to update the app.
“When Testim was founded, our goal was to enable software teams to author tests 20 times faster than before,” Rubin added. “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.”