According to Global Market Insights, the automation testing market is expected to grow at a 15 per cent CAGR between 2020 and 2026, reaching an estimated global market value of $35B (approx €30B).
To capitalise on the billion-dollar market, SEGRON, an Amsterdam-based startup that provides test automation solutions to telecom network operators and service providers, announced the completion of a new round of funding led by OTB Ventures and Credo.
How will the funding be used?
This round brings the total capital raised to date up to $10M (approx €8.4M). The capital will be used to fund international growth and expand into new industry verticals to enhance the end-user experience while shortening the time-to-market for new products and services.
Appointed new executives
Besides funding, SEGRON also appointed three new executives to its senior management team – Jean-Philippe Leloup joins as Deputy Chief Executive Officer, Rita D’Agostino joins as Chief Marketing Officer and Martin Hochmeister joins as Chief Revenue Officer.
Offers automated solutions
Founded by Thomas Groissenberger and Michael Sedlacek in 2012, SEGRON offers automated solutions to test new digital services in any location, with any device, anytime.
Currently, the company works with various telecom operators including, Telefonica, T-Mobile, and Swisscom, to ensure optimal service quality for end-subscribers.
Recently, the Dutch company also signed a new agreement with a Canadian telecoms operator. Furthermore, the company is planning to expand its global presence to the Middle East and Africa, and the Asia-Pacific region.
Roadmap for 2021
The test automation company is planning to focus on AI and is likely to launch a new product Global Service Enabler in April 2021. This service will help verify the performance of digital services over international and roaming networks from any location.
According to the company, with the market dynamics in telecoms and new industry verticals, SEGRON anticipates growing by over 300 per cent in the year ahead to achieve annual recurring revenues in excess of $5M on a run-rate basis. Since it’s looking to expand its industrial scale in new industries and international markets, it is anticipated that its workforce will increase by 30 per cent by the end of 2021.
Commenting on the fundraise, Thomas Groissenberger, founder and CEO of SEGRON, says, “This is an important milestone for SEGRON as we enable some of the world’s greatest innovators rising to the industrial-scale challenges and opportunities emerging in the past 12 months. Our automated solutions help companies to improve their end-customer’s experience, increase productivity and improve speed-to-market for new products and services. From a team of us working on a start-up, we are now scaling international and across industries to build the next generation of active testing.”