Appvance attracts $13 million funding for its AI-powered software testing startup Appvance

San Francisco, 2/24/2022

Appvance, a startup that develops AI-powered software testing tools, has closed a new $13 million funding round led by Marina Del Rey-based investment firm Arrowroot Capital.

As part of the new funding, Kareem El Sawy, partner at Arrowroot Capital, joined Appvance’s board of directors. Existing investors Javelin Venture Partners and TRI HoldCo also participated in the funding round.

Appvance describes its software quality assurance (QA) business as a $120 billion market. Jenkins, CircleCI and other automated software testing tools provide ways to streamline the process and ensure code works as it should.

Appvance says it sets itself apart by using artificial intelligence to create tests. „This technology independently designs, generates and executes tests for sophisticated web and mobile applications without human intervention,“ the startup said in a press release.

Appvance calls its product „the world’s first Level 5 autonomous testing solution,“ a reference to the Society of Automotive Engineers‘ six levels of automation. In the automotive world, the fifth level refers to fully autonomous cars – a market that is not yet commercially available but is being led by companies like Tesla.