TRICENTIS Secures Growth Financing from ViewPoint Capital Partners
TRICENTIS Strengthens International Presence and Market Reach of its Automated Software Testing Solution, TOSCA Testsuite™
Vienna, Austria / Frankfurt, Germany (PRWEB) December 12, 2012
TRICENTIS Technology & Consulting GmbH, the leading provider of innovative automated software testing solutions, announced today the completion of multi-million Euro growth financing led by ViewPoint Capital Partners. The investment will primarily be used to strengthen sales and marketing efforts worldwide and accelerate market reach in new territories.
TRICENTIS addresses the market need for a next-generation, cost effective software testing and quality assurance solution. Based on its flagship product TOSCA Testsuite, TRICENTIS empowers organizations to easily test business-critical enterprise applications, leveraging non-technical testers with Business Analyst skills, to achieve the highest level of coverage and at low costs previously unheard-of. TOSCA's market proven technology enables two unprecedented paradigm shifts:
(1) Technology-enabled testing methods that massively reduce the number of test cases while increasing test coverage and
(2) a unique model-based approach to software test automation, enabling automated test cases in plain English.
This eliminates the massive maintenance requirements of conventional script based test automation, thereby reducing redundant testing efforts with lower costs and improved time to market. With a strong footprint in the banking, insurance, and enterprise sectors, TRICENTIS has revolutionized software testing for many of its regional and global customers.
According to Gartner Analysts, software testing is one of the hottest branches in the IT industry: “Despite the influence of emerging technologies and delivery models in the application development space, interest in software testing remains consistent. The need to continuously improve quality and reduce costs has led to software testing being viewed as a critical component in the AD life cycle.” (“Search Analytics Trends: Software Testing Remains Hot”, Asheen Raina and Fabrizio Biscotti)
The funds raised will support and further extend the company's strong international growth predominantly through increasing initiatives in sales and marketing. Building on a strong customer base and vastly increasing market demand, TRICENTIS will expand its presence in Europe, the US and in Asia Pacific.
Wolfgang Platz, founder and CEO and Franz Fuchsberger, CEO of TRICENTIS, commented on the transaction: “We are delighted to welcome ViewPoint on board as our first institutional shareholder. The investment will help us bring the unique advantages of our offerings to a wider range of customers and increase the strength of our footprint in our existing customer base. With ViewPoint as a strong partner we intend to further leverage our product offering and our revolutionary technology to transform the software testing space.”
“We have been following the successful development of TRICENTIS for a while and were impressed by the company's ability to replace conventional testing solutions in major international corporations. The vision of the TRICENTIS management team, their advancements in disrupting the software testing market and their passion for testing innovations further support our decision to partner with TRICENTIS. We are excited to build on the success that the company has achieved so far and look forward to establishing TRICENTIS as the leading player in the software testing market”, added Christian Janson-Euterneck, Managing Partner at ViewPoint Capital Partners.
About ViewPoint Capital Partners
ViewPoint Capital Partners is a specialized European private equity firm solely focused on growing software & internet technology companies with a clear value proposition and revenues ranging from €3m to over €30m. With funds of €200 million under management, ViewPoint provides capital for growth & international expansion, shareholder liquidity, buy-outs and acquisitions. Investors in the funds advised by ViewPoint include European banking corporations, international fund-of-funds, asset managers, pension funds and insurance companies as well as selected private individuals. See http://www.viewpointpartners.com for more information.
TRICENTIS offers cross-industry expertise in all aspects of software testing and software quality assurance. The flagship product TOSCA Testsuite enables companies to test and assess business-critical enterprise applications with unprecedented effectiveness and efficiency. TOSCA is ideal for industries with workflow business processes and several different operating engines, browsers and smart devices, such as Banking, Insurance, Financial Services, High Tech, Telecom, Manufacturing, Retail, Healthcare, Utilities, Public Sector and other leading industries requiring the highest quality of software testing. TRICENTIS has a global presence with more than 300 customers and offices in Europe, the USA and Australia. TRICENTIS' customer base includes companies like Auckland Savings Bank, Bank West, UBS, Allianz Insurance, Zurich Insurance, HBO, and many more. See http://www.tricentis.com for more information.
Winner of Best in Test Award
ASP Award, “The Year‘s Ten Best Web Support Sites“
Winner of R.E.C.S.S. (Recognition of Excellence in Customer Support and Service)
TRICENTIS® and TOSCA Testsuite™ are trademarks of TRICENTIS Technology & Consulting GmbH. All other trademarks belong to their respective owners.
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