Tricentis, a global leader in continuous testing and quality engineering, is announcing a significant investment from GTCR, a leading private equity firm, having signed a definitive agreement to invest $1.33 billion, bringing the company’s valuation to $4.5 billion. Joining Tricentis’ other investor—Insight Partners—this investment reflects Tricentis’ value in delivering continuous testing and quality engineering technology, aiming at further expansion.
The Tricentis platform accelerates the testing of applications, data, and business processes, integrating with tools across the delivery pipeline to drive holistic stack quality. Offering test automation, test management, performance testing, and more, Tricentis enables quality at speed for better business outcomes—where testing takes as little as minutes or hours, not days or weeks, according to the company.
“This investment recognizes the incredible company, strong product portfolio, and large market opportunity that we have created here at Tricentis,” said Kevin Thompson, chief executive officer, Tricentis. “We have had a long and successful partnership with Insight Partners, and I join them in welcoming GTCR as we further accelerate our momentum in enabling enterprises with large, complex IT environments to keep up with the rapid rate of change in their software application environments.”
With GTCR’s investment, the company will join Tricentis’ Board of Directors alongside Insight Partners, working to support Tricentis’ ongoing growth. This agreement was approved by Insight Partners and Tricentis, following a comprehensive review of strategic alternatives, according to the companies.
“Tricentis has established itself as a clear leader in software quality testing through its exceptional product suite and the unique value it provides customers and partners,” said Mark Anderson, managing director and head of technology, media and telecommunications at GTCR. “GTCR has a long history of helping scale successful technology and software-based businesses. We are excited to partner with the Tricentis team and Kevin, a leader in this space with whom GTCR has had a long relationship, alongside our partners at Insight to invest in driving additional growth at the company.”
By the end of 2024, Tricentis is projected to finish with over $425 million in annual recurring revenue (ARR) and growth of approximately 27%.
To learn more about Tricentis, please visit https://www.tricentis.com/.