Investment will enable Opkey to scale up its product development, sales, and marketing teams to support its exponential customer growth.
Opkey, a global leader in packaged application testing, announced 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.
“We are thrilled by the support of ambitious, successful investors who see the potential of AI-driven, continuous test automation.”— Pankaj Goel, Opkey’s CEO and co-founder
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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. ”
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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.”
