Tricentis, an Austin, TX-based company which specializes in continuous testing and quality engineering, received a $1.33 Billion investment from GTCR, at $4.5 billion valuation.
The agreement was approved by global software investor Insight Partners and Tricentis following a comprehensive review of strategic alternatives. Insight Partners and GTCR will work together with equal representation on the Board of Directors to support the Tricentis management team’s efforts in fueling the company’s further expansion.
Led by CEO Kevin Thompson, Tricentis specializes in continuous testing and quality engineering. Its AI-based, continuous testing portfolio of products provides a new approach that is totally automated, fully codeless, and intelligently driven by AI to DevOps, cloud, and enterprise applications. It addresses both agile development and complex enterprise apps, enabling enterprises to accelerate their digital transformation by increasing software release speed, reducing costs, and improving software quality.
Founded in 2007 in Vienna, Austria, the company has more than 3,000 customers, including brands such as McKesson, Allianz, Telstra, Dolby, and Vodafone.
FinSMEs
27/11/2024