Total amount raised
$1.5 Billion
Latest funding date
11/1/2024
Location
Tricentis has successfully raised funding over four rounds, with the latest being a Private Equity round led by GTCR. The company is backed by five investors, including GTCR and Wipro Ventures.
Keep reading to explore the intricacies of Tricentis's fundraising journey and the investors backing this innovative platform.
What Is Tricentis?
Tricentis, headquartered in Austin, Texas, is a leader in AI-powered automated testing and quality engineering. The company operates in various industries, including AI, business process automation, DevOps, enterprise software, information technology, and software testing and quality assurance.
With a workforce of 1001-5000 employees, Tricentis serves over 3,000 customers globally. The company offers a comprehensive platform that includes test automation, test management, performance testing, and quality intelligence, aiming to accelerate software delivery and digital transformation.
How Much Funding Has Tricentis Raised?
- Series A
- Amount Raised: USD 7,000,000
- Date: December 2012
- Lead Investors: ViewPoint Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and product development.
- Series B
- Amount Raised: USD 165,000,000
- Date: January 2017
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and accelerate growth.
- Debt Financing
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for operational needs.
- Private Equity
- Amount Raised: USD 1,330,000,000
- Date: November 2024
- Lead Investors: GTCR
- Valuation at Round: USD 4,500,000,000
- Motivation Behind the Round: To advance future growth and innovation.
Total Amount Raised: USD 1,502,000,000. Current Valuation: USD 4,500,000,000.
Key Investors
- GTCR
- Details: GTCR is a leading private equity firm with a long history of helping scale successful technology and software-based businesses. They are one of the lead investors in Tricentis.
- Investment Focus Areas: Technology, media, telecommunications, healthcare, financial services
- Notable Investments: Tricentis
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in high-growth technology and software companies. They took majority ownership of Tricentis in 2017.
- Investment Focus Areas: Software, technology companies
- Notable Investments: Tricentis
- ViewPoint Capital Partners
- Details: ViewPoint Capital Partners is a private equity firm that focuses on investing in software and internet technology companies. They are one of the investors in Tricentis.
- Investment Focus Areas: Software, internet technology companies
- Notable Investments: Tricentis
- Wipro Ventures
- Details: Wipro Ventures is the strategic investment arm of Wipro Limited, focusing on investing in early to mid-stage startups. They are one of the investors in Tricentis.
- Investment Focus Areas: Enterprise software, cybersecurity, artificial intelligence
- Notable Investments: Tricentis
- Sumeru Equity Partners
- Details: Sumeru Equity Partners is a private equity firm that invests in middle-market technology companies. They are one of the investors in Tricentis.
- Investment Focus Areas: Technology, software, IT services
- Notable Investments: Tricentis
What's Next for Tricentis?
Tricentis stands at the cusp of significant growth, driven by the increasing reliance on software for business success. With a $1.33 billion investment from GTCR and a valuation of $4.5 billion, the company is well-positioned to expand its continuous testing and quality engineering services. This substantial market opportunity is underscored by a projected annual recurring revenue of over $425 million and a 27% year-over-year growth rate.
Future fundraising opportunities appear promising, given the strategic partnership with GTCR and Insight Partners. The involvement of major financial advisors like Evercore and J.P. Morgan Securities suggests readiness for further financial activities to support expansion and innovation. However, Tricentis may face challenges in keeping up with the rapid changes in software application environments and managing the complexities of large-scale IT systems.
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