Opkey Secures $8 Million Funding Round Led By Vertica Capital Partners
Investment will enable Opkey to scale up its product development, sales, and marketing teams to support its exponential customer growth.
— Pankaj Goel, Opkey’s CEO and co-founder
DUBLIN, CALIFORNIA, USA, August 28, 2022 /EINPresswire.com/ — Opkey, a global leader in packaged application testing, announced today an $8 Million financing round led by Vertica Capital Partners, that closed in Q1 2022.
Demand for Opkey’s AI-enabled test automation solution has skyrocketed in the past year, primarily due to the ease-of-use of the product and the unparalleled ROI customers are experiencing. Opkey customers are pushing ERP changes 50% faster while lowering their release defect rate by more than 70%. These results are being seen across business applications like SAP, Workday, Oracle, and Salesforce, as well as legacy and custom applications. Opkey is also significantly reducing the cost and timeline of cloud migrations, driving adoption at strategic customers and partners such as KPMG, Fujitsu Global, Pfizer, and Molina Health. Delivering on this need, Opkey’s financing follows a period of remarkable growth, having doubled their customer count in the past 6 months.
The new financing coincides with the release of Opkey’s new UI, which is the easiest-to-use no-code interface available in the market today. The latest release also enables Opkey customers to instantly discover existing business processes and test cases, then painlessly turn them into automated tests. “We are seeing our clients use this technology to automate a majority of their testing needs in hours, not months,” said Opkey CEO, Pankaj Goel. “We’ve been working tirelessly to make software testing a process that people don’t dread. We’re confident that our groundbreaking platform will help speed the adoption of test automation in the broader market. Our new UI is our latest step in making test automation more accessible to everyone, regardless of their technical expertise. ”
The financing will also empower Opkey to expand its reach in the US and beyond, with key hires including Julian Andronic, VP of Sales, and Noah Keil, Head of Marketing & Growth.
In addition, the funding will enable Opkey to continue best in class support and services for its fast-growing and high-profile customer base.
“We are thrilled by the support of ambitious, successful investors who see the potential of AI-driven, continuous test automation,” said Pankaj Goel. “The need for automation has never been greater, especially as customers look to streamline operations amid economic uncertainty.”
Phillip Vorobeychick, Managing Director at Vertica Capital Partners, had this to say: “We’re extremely excited to partner with Pankaj and the rest of the Opkey team. We evaluated more than 20 test automation platforms, and were extremely impressed by Opkey’s product and vision.”
For more information on Opkey’s innovative test automation technology, visit opkey.com
Opkey is redefining test automation for web, mobile and ERP applications. Opkey’s no-code platform instantly generates the test cases you need and transforms them into automated test cases in one click, enabling both business users and IT to automate and scale testing efforts. With 30,000+ pre-built test cases across 14+ ERPs and 150+ technologies, and notable mentions by industry Analysts like IDC, Gartner and Forrester, Opkey is redefining the future of Test Automation. Opkey has more than 250 enterprise clients, and is headquartered in Dublin, California, with offices in NYC, Pittsburgh, and India.
About Vertica Capital Partners
Vertica Capital Partners is a growth-focused software investment firm based in New York. The fund’s Limited Partners include a broad base of software entrepreneurs, university endowments, charitable foundations, family offices, pension funds, funds of funds, and other financial institutions. For more information, visit verticacp.com.
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