Testsigma, a cloud-based test automation platform for quality assurance (QA) teams in companies, on Wednesday announced raising $8.2 million funding round led by MassMutual Ventures. The company said its previous investors Accel, STRIVE and BoldCap also participated in the round. The company had earlier raised $4.6 million in a round led by Accel along with STRIVE and BoldCap in 2022.
Founded in 2019 by Rukmangada Kandyala, Pratheep Velicherla, Vikram Chaitanya, and Rajesh Reddy, Testsigma allows users to rapidly create, manage and execute end-to-end, automated tests for web and mobile apps, and APIs using plain English. The new GenAI features allow QA teams to generate test scenarios and test cases from various inputs such as URL, product designs, screenshots, and Jira stories, the company said in a statement.
Speaking on the investment, Anvesh Ramineni, Managing Partner at MassMutual Ventures said, “We are witnessing a significant change in how QA teams approach automation. Testsigma’s AI-driven, low-code solution enables multiple user profiles, including manual testers and business analysts, to contribute to faster software releases.”
MassMutual Ventures is a multistage global VC that invests in financial technology, enterprise SaaS, healthtech, climate technology and cybersecurity companies. The company manages more than $1 billion in investment capital.
According to IDC, GenAI-based tools would be able to write 70 per cent of software tests by 2028, thereby lowering the requirement for manual testing and leading to improvements in test coverage, software usability and code quality.
“There is an accelerated demand for quality engineering teams to adopt low-code and AI-powered solutions. We are excited at the new Gen-AI capabilities and the accelerated adoption of Testsigma among the QA community and enterprises alike,” said Abhinav Chaturvedi of Accel Partners.
Globally, the software testing services market size is expected to grow by $20.6 billion at a compound annual growth rate of 10.64 per cent between 2023 and 2028 on the back of the growing adoption of mobile testing for the quality and performance of software across platforms and devices, as per a May 2024 report by market research firm Technavio.