Cloud-based Testing Start-Up Raises $16 Million in Series A Round

Cloud-based software testing provider Functionize has closed a series A investment round for a total of $16 million. The round was led by California-based venture fund Canvas, which also has a stake in integration software provider Mulesoft. California-based Functionize offers a cloud-based SaaS solution, which autonomously discovers bugs. The latest injection of funding will go towards sales and promotion of Functionize’s proprietary natural language processing solution for enterprise software testing. The start-up’s customers include companies in the technology, healthcare and insurance sectors, while its partner ecosystem features Google, SHI, Wipro, Marlabs and SQALogic. “Our customers are technology leaders which see the wisdom and power of a ‘cloud-first’ testing strategy. Artificial Intelligence requires significant computing power and the cloud allows you to harness this,” said Functionize’s CEO and Founder Tamas Cser. “Software testing has endured what I term a QA winter. This means developers and testers still maintain tests the same way as they did in the early ages of the internet. Natural language processing allows testing to just work – empowering testers to dramatically speed up product delivery.”