AI-driven test automation platform Opkey has successfully raised $47 million in a Series B funding round led by PeakSpan Capital and participated by some existing investors. The fresh funding highlights growing demand for automated testing solutions in a rapidly evolving digital landscape.
Opkey earlier raised an $8 million fund in Series A round in August 2022 and it was led by Vertica Capital Partners. Hence, the total funding now stands at $57 million. It is learned that the new investment will enable the company in accelerating technological advancements and particularly in the area of Cloud ERP (Enterprise Resource Planning) transformation. It has plans to expand research and development teams in Noida and Bengaluru too.
Opkey address crucial need in the enterprise market by simplifying ERP testing during cloud migrations. The systems are vital for managing various business processes. However, they can be challenging as well in maintaining due to complexity and frequent updates required for smooth operation. Traditional manual testing methods are often time-consuming as well as risky. It leads to potential disruptions in business operations.
Opkey reduces the time and effort required for ERP testing with the help of artificial intelligence and machine learning. Its AI-powered assistant named Wilfred uses a patent-pending GenAI Test Mining algorithm to dynamically generate tests that is tailored to specific configurations and customizations of each client. The innovation enables enterprises to accelerate ERP changes by 50% and simultaneously reduce defect rates by over 70%. It saves time and ensures that the systems operate smoothly as wellas efficiently.
Opkey is equipped with more than 200 large enterprise customers including 72% of the Fortune 1000 companies. It has also collaborated with major system integrators such as KPMG, Huron and PwC.
