Tricentis
Funding History
| Private Equity (GTCR) · 11/2024 | $4.5B |
|---|
About
Tricentis builds an AI-augmented, agentic continuous-testing platform that helps large enterprises validate complex software estates, including SAP, Salesforce, Oracle, and custom applications, before release.
- totalFunding
- $1.5B
- valuation
- $4.5B
- arr
- $500M
- employees
- 1,700
- customers
- 3,000+
- founded
- 2007
- headquarters
- Austin, Texas
Overview
Tricentis was founded in Vienna, Austria in 2007 by Wolfgang Platz and Franz Fuchsberger, who turned their software-testing consulting practice into a product company. The company is now headquartered in Austin, Texas, with more than two dozen offices worldwide, and provides an AI-augmented, agentic continuous-testing platform that automates functional, performance, and API testing for large enterprise software estates including SAP, Salesforce, Oracle and custom applications.
Insight Partners became Tricentis's majority owner in 2017 after leading a $165 million Series B round, and Tricentis expanded its platform through a series of acquisitions, including Flood.io, QASymphony, TestProject, SpecFlow, Neotys and SeaLights. Kevin Thompson, the former President and CEO of SolarWinds, was named Chairman and CEO in April 2021, succeeding co-CEO Sandeep Johri, who had led the company since 2013 and remains a board director.
In November 2024, Chicago-based private equity firm GTCR signed a definitive agreement to invest $1.33 billion in Tricentis, valuing the company at $4.5 billion and taking equal board representation alongside Insight Partners; European Union regulators cleared the transaction in January 2025. Tricentis reported roughly $500 million in annual recurring revenue for 2025 and was ranked first in worldwide Automated Software Quality revenue market share for calendar year 2025 by IDC.
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