Applitools, the Israeli-based firm was recently acquired by US Fund Thoma Bravo. The US Fund disclosed on 30th March that it has made a tactical growth investment in visual test automation software company Applitools.
Applitools was founded in 2013 and has headquarters in California, San Mateo, and a development center in Israel, the company has around 100 employees. It delivers cloud-powered and AI-based solutions to automate visual and functional testing for software applications. The company’s Visual AI platform utilizes computer vision algorithms, facilitating teams to quickly write, execute, assess, and maintain tests to eventually discharge high-quality applications at extraordinary speed and at less cost.
“As digital transformation accelerates, more and more software developers are turning to Applitools’ cross-environment testing solutions to build and verify high-quality software applications users can trust,” said Gil Sever, CEO of Applitools. “At this moment of dynamic change, businesses are looking for peace of mind and reliable, AI-augmented toolkits to maintain continuity across digital touchpoints. We look forward to partnering with Thoma Bravo to double down on our significant business momentum, drive continued product innovation and take our unique technology to new heights.”
The announcement regarding the acquisition also stated that the co-founders of the company Moshe Milman, Adam Carmi, and Gil Sever will still be serving a major role in the company. While financial details of the acquisition were not announced but authorities close to the matter indicate that the deal is worth $300 million which includes investing new capital into the company acquiring the stakes of prevailing shareholders.
The acquisition will help Applitools to leverage Thoma Bravo’s operating abilities and intense knowledge in the software sector to stimulate its already remarkable growth trajectory and further surge its visionary, market-leading platform.