Company announces most successful year in its history, reaching $330M ARR and 60% YoY customer growth

Tricentis, the global leader in continuous testing and quality engineering, today announced 2023 momentum for the company, with continued revenue growth, customer acquisition, and an expanded global footprint. In 2023, Tricentis generated over $330M in annual recurring revenue (ARR), growing in the mid 20% range year over year. Tricentis now serves more than 3,000 companies, including nearly half (49%) of the Fortune 500.

Tricentis saw continued company momentum through the following developments:

Steadily growing its global customer, partner, and community base:

• Increased the number of new customers by almost 60% year over year.
• Experienced a record year in its partnership with SAP, with year over year revenue growth approaching 50%.
• Year over year revenue growth with partners also approached 50% in 2023, including Accenture, Capgemini & Sogeti, Wipro, TTC, and Cognizant.
• Opened new offices in South Korea to better support customers and prospects in APAC as well as continued to establish its domestic footprint by opening an office in Northern Virginia to support its public sector clients. Tricentis now has 25 office locations across 17 countries.
• Appointed several new leaders across the organization to accelerate the business, including David Kimball, Senior Vice President for the Americas, David Cronk, Senior Vice President for EMEA, David Gardiner, Executive Vice President of DevOps and Yaw Hu Law, Vice President for Asia.
• Launched online quality engineering community ShiftSync to help support industry professionals to create high quality, highly performing and highly secure software.

Bringing an innovative product strategy to market:

• Mobile testing
  • Tricentis acquired Waldo, a SaaS-based, no-code, zero-footprint mobile test automation platform. Waldo complements Tricentis’ test automation capabilities, including native, hybrid, and web mobile application testing through virtual devices supporting iOS and Android infrastructure.
  • Announced the launch of Tricentis Mobile, a comprehensive, end-to-end mobile testing solution which brings together Tricentis Testim Mobile, Tricentis Tosca Mobile, Tricentis Device Cloud and the Virtual Mobile Grid as part of a single platform.
• AI-powered quality
  • Announced the approval of a patent for its method and system for single pass optical character recognition (OCR), designed to accelerate and enable faster AI text recognition - the foundation for Vision AI.
  • Released latest version of Tricentis Test Management for Jira with AI capabilities to generate test steps needed to validate a requirement.
• Launched cloud-based test automation technology that simplifies test creation, orchestration, and scalable test execution for easier collaboration among QA teams and their business stakeholders and faster, higher-quality, and more durable releases of web-based applications and business processes.
• Introduced the latest SAP-focused release of its change intelligence product Tricentis LiveCompare at the SAP Sapphire & ASUG Annual Conference.

Solidifying its reputation as a global testing and quality engineering leader:

• Named as a Representative Vendor in the February 2024 Gartner Market Guide for AI-Augmented Software-Testing Tools.
• Received two awards from SAP, including an SAP® EMEA South Partner Excellence Award 2023 for SAP Solution Extensions – Growth, and a Partner of the Year award for SAP Solution Extension from SAP Germany’s Diamant Initiative.
• Awarded the Digital Transformation of the Year award at the 7th annual National Technology Awards.
• Named the winner of the Best Testing Service/Tool category for Tricentis Mobile in TechStrong’s DevOps Dozen 2023.
• Received three awards from TrustRadius’ Best of Awards for Best Value for Price, Best Relationship, and Best Feature Set for Tricentis qTest.
• Received a Highly Commended rating in the Most Innovative Project category at the DevOps Awards 2023.

“Software quality is critical to today’s business, and at Tricentis our mission is to empower every team to deliver high-quality software at speed and at scale,” said Kevin Thompson, Chief Executive Officer, Tricentis. “Our differentiated approach to software quality and comprehensive platform allows our customers to simplify and accelerate the process of quality engineering, even in complex enterprise environments. We look forward to building on the success of this past year and helping our customers and partners achieve better business outcomes.”

About Tricentis

Tricentis is a global leader in continuous testing and quality engineering. The Tricentis AI-based, continuous testing portfolio of products provide a new and fundamentally different way to perform software testing. An approach that’s totally automated, fully codeless, and intelligently driven by AI. It addresses both agile development and complex enterprise apps, enabling enterprises to accelerate their digital transformation by dramatically increasing software release speed, reducing costs, and improving software quality. Widely credited for reinventing software testing for DevOps, cloud, and enterprise applications, Tricentis has been recognized as a leader by all major industry analysts, including Forrester, Gartner, and IDC. Tricentis has more than 3,000 customers, including the largest brands in the world, such as McKesson, Allianz, Telstra, Dolby, and Vodafone. To learn more, visit https://www.tricentis.com.

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