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Testsigma has raised $8.2 million in funding led by MassMutual Ventures

Funding Alert

Testsigma, the leading cloud-based test automation platform, today announced the successful completion of an $8.2 million funding round led by MassMutual Ventures. The round was also joined by existing investors Accel, STRIVE and BoldCap, who previously invested $4.6 million in the company in 2022.

Founded in 2019 by Rukmangada Kandyala, Pratheep Velicherla, Vikram Chaitanya and Rajesh Reddy, Testsigma is revolutionizing the way QA teams conduct automated tests of web and mobile applications as well as APIs. The platform allows users to create, manage and execute end-to-end tests using plain English. The latest funding will further enhance the company’s GenAI capabilities, which enable QA teams to create test scenarios and test cases from various inputs such as URLs, product designs, screenshots and Jira stories.

“We are witnessing a significant change in the way QA teams approach automation. Testsigma’s AI-based low-code solution enables multiple user profiles, including manual testers and business analysts, to contribute to faster software releases,” said Anvesh Ramineni, Managing Partner at MassMutual Ventures.

MassMutual Ventures is a multi-stage global venture capital firm with over $1 billion of investment capital under management. The firm invests in companies in a variety of sectors including financial technology, enterprise SaaS, healthtech, climate technology and cybersecurity.

The incorporation of GenAI features into Testsigma is in line with industry forecasts. According to IDC, GenAI-based tools are expected to write 70% of software tests by 2028, significantly reducing the need for manual testing while increasing test coverage, software usability, and code quality.

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Excited about the development, Abhinav Chaturvedi of Accel Partners said, “There is an accelerated demand for quality engineering teams to embrace low-code and AI solutions. We are excited about the new capabilities of Gen-AI and the accelerated adoption of Testsigma among the QA community and enterprises.

The global software testing services market is poised for significant growth with a projected growth of USD 20.6 billion at a CAGR of 10.64% from 2023 to 2028. This growth is driven by the increasing adoption of mobile testing to ensure software quality and performance . across various platforms and devices, according to a May 2024 report from market research firm Technavio.

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