The platform continuously tracks integrations, updates, upgrades, and user acceptance, covering packages and platforms including Oracle, Workday, Coupa, Veeva, Salesforce, SAP, Microsoft Dynamics, UKG, and Trackwise. Opkey's solution is particularly relevant as cloud applications are continuously updated, which can break existing functionality and require continuous testing. The company's success in the funding round underscores the growing adoption of AI in enterprise IT.
Key takeaways:
- Opkey, a startup that has built an AI platform to help organizations continuously test finance, HR and other enterprise resource planning (ERP) software, has closed a $47 million Series B funding round led by PeakSpan Capital.
- The company has more than 200 large enterprise customers and partnerships with system integrators like KPMG and PwC. This Series B is a significant increase from the $12 million previously raised by the company.
- Opkey's platform addresses a critical gap in the market, helping to prevent vulnerabilities or inconsistencies between software from taking down entire networks. The platform continuously tracks integrations, updates, upgrades, and user acceptance.
- Despite competition from other companies like Leapwork and Katalon, there is a strong business interest for services like Opkey's due to the direction IT is moving. The most expensive IT spend for businesses is related to critical enterprise apps, their ERP apps, which makes automated testing crucial.