TechTaffy

tech:

taffy

Software testing company Tricentis raises $165M

By TechTaffy Desk

Tricentis, an automated software testing company headquartered in Vienna, Austria, has raised $165 million in a Series B financing round from Insight Venture Partners. As part of the transaction, the venture firm’s managing director Mike Triplett will join Tricentis’ board.

Tricentis says it will use the funds to continue accelerating its market penetration and scale operations. Pacific Crest Securities acted as financial advisor to the company, with O’Melveny & Myers acting as U.S. legal counsel and Wolf Theiss acting as Austrian legal counsel.

According to Nelson Hall, the global software testing market is expected to be a $34 billion industry in 2017. Tricentis customers include HBO, Whole Foods, Toyota, Allianz, BMW, Starbucks, Deutsche Bank, Lexmark, Orange and UBS, according to the company.

[Image courtesy: Tricentis]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.