Sweden’s testing technology firm QA.Tech confirmed to QA Financial it has raised just over €3 million in fresh capital.
In what is seen as a vote of confidence in the relatively young firm, founded only last year, a range of prominent and well-known Scandinavian investors have agreed to pump fresh capital into QA.tech.
Among its new investors are Spotify developer Jon Aslund, Mads Johnsen, former product manager at Calm, Robert Lagerström, professor at Royal Institute of Technology in Stockholm and founder of Foreseeti, which was acquired by Google last year, as well as Sven Perkmann, co-founder and CTO of Anyfin, and Jens Saltin, a former UK country manager at Klarna.
The latest capital raise, which comes only six months after the firm managed to secure another €1 million, was led by UK-based venture capital firm PROfounders, together with the Nordic investor byFounders and Amsterdam-based Curiosity.
QA.tech CEO Daniel Mauno Pettersson shared with QA Financial that the new funds will be used to continue the firm’s product development and expand its current team of 11 people.
“We have been making huge strides in our product development, but our ambition for this product has also been growing, which is why we are raising more capital,” Pettersson explained.
“It’s great to welcome these impressive investors who see the same incredible potential in the product as we do,” he added.
“Testing has long been a bane for developers, who up until now have either tested with code, which is slow to write and costly to maintain, or resort to manual testing, which is unscalable and human error-prone.”
– Investor Joe Bond
Joe Bond, a partner at key investor PROfounders, explained his rationale to continue to invest in the Swedish firm.
“Testing has long been a bane for developers, who up until now have either tested with code, which is slow to write and costly to maintain, or resort to manual testing, which is unscalable and human error-prone,” he said.
The London-based investor stressed that “QA.tech’s autonomous agents bring a novel approach that we believe has the potential to fundamentally transform the speed and capability of testing, providing a glimpse into what the future of programming will look like.”
End of manual testing
QA.tech specialises in developing an AI-based testing tool for applications and SaaS services.
The firm was founded only last year by tech entrepreneurs Daniel Mauno Pettersson, Patrick Lef, Marcus Carloni and Vilhelm von Ehrenheim, who mostly have a background in software engineering.
The company’s platform automates quality assurance tests, which traditionally evolve around manual testing, with typical tasks such as account creation and checking website functionality.
QA.tech aims to change that, by speeding up automated testing processes via AI-powered capabilities, targeting companies that are working to streamline or simplify their QA processes or those that have modest testing capacity.
“Our goal is to not just keep pace with the future but to actively shape it,” Pettersson declared boldly, revealing the firm currently has around 40 customers, mostly in the Nordics.
“By integrating AI into QA, we aim to set new standards for what is possible in software development,” he stated.
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