PARIS Smartesting, French designer and developer of software solutions for automated test generation, announced it has raised 4.8 million euros ($6.2 million) in a third round of capital investment.
Led by I-Source, Siparex, Capital Investissement Franche-Comté and a business angel, the round of financing aims to help Smartesting expand its operations in France and internationally.
In more precise terms, the funds will be used to accelerate the development of solutions for the automated migration of vertical applications and integrated management solutions.
"We are confident that our solution, which enables large companies and integrators to rationalize their software test process and therefore to increase productivity, offers major growth potential both in France and abroad in today’s business context," commented Laurent Py, co-founder and CEO of Smartesting.
Smartesting was founded in 2003 as a spinoff of CNRS/INRIA Computer Science Laboratory at the University of Franche-Comté (France). In May 2008, it changed name from Leirios.
The company’s Smart Testing solution was initially deployed for large-scale testing activities in electronic transaction applications (smart cards). It is now used for validating major information systems, such as those in banking and telecom industries.