Opkey Raises $47M in Series B Featured Products Opkey, an AI-driven continuous test automation platform for enterprise systems has raised a total of $57 million following the completion their latest round adding to its existing portfolio with support from new lead investor PeakSpan Capital. This strategic investment will be used to further Opkey’s ongoing commitment to continuous assurance, as well as enable teams integrating cloud ERP transformation programs with streamlined technology innovations and a culture of innovation at the company. Opkey will also use this capital to predominantly increase its sales and marketing staff around the world in addition to continued investment in R&D.
The company is committed to expanding its engineering and AI research teams at our Noida, as well as Bangalore R&D center for building a category defining product The financing, said Pankaj Goel, CEO and CO-Founder of Opkey, will extend the company’s technical capability to better serve a wider customer base seeking support in transitioning their legacy ERP systems into the cloud safely with unbroken quality & performance assurance; two things essential for successful business outcomes.
When enterprises are in the process of modernizing their ERP, they almost certainly will face some difficulty when it comes to managing multiple best-of-breed applications; this phenomenon is sometimes referred as a “SaaS mess”. And applications need to be constantly revisited and updated, tested over time in order for the business of doing business never truly stop. Opkey uses AI & Machine Learning that significantly reduces time and effort for ERP Testing. The AI-based assistant, Wilfred, is able to immediately analyze client configurations as well as customizations and uses a patent-pending GenAI Test Mining algorithm for the dynamic generation of specific tests. This enables organizations to speed up the pace of ERP changes by 50% and lower defect rates by more than 70%.
Sanket Merchant, partner at PeakSpan CapitalSanket notes that the struggles in each stage of an ERP life cycle underscore: “why there is another generation of opportunity for AI-powered solutions.” The solutions address the high rate of failure cloud transformations are experiencing today, and thus automate key aspects including implementation, testing as well as support. Which has more than 200 enterprise customers on the Opkey platform today — with approximately 72 percent ranked in the Fortune 1000. The company works with top consultants, systems integrators enabling the highest level of AI in implementation and managed services projects.