AI test automation startup Opkey secures $47 million in funding to expand its operations in Noida and Bengaluru.

Opkey, an AI-driven platform focused on continuous test automation for enterprise systems, has secured $47 million in Series B funding. The round was led by PeakSpan Capital, with additional support from existing investors. Previously, the company raised $8 million in a Series A round in August 2022, led by Vertica Capital Partners. With this latest round, Opkey's total funding has reached $57 million, according to CrunchBase.The new capital will enable Opkey to accelerate technological advancements, particularly in Cloud ERP transformation. The company plans to expand its R&D teams in Noida and Bengaluru, India, to develop a category-defining product and enhance its global sales and marketing efforts.Opkey's platform simplifies ERP (Enterprise Resource Planning) testing, addressing the challenges that arise during cloud ERP migrations. CEO and Co-founder Pankaj Goel stated that the funding will help enhance the company's technology and expand its reach, assisting more organizations in smoothly migrating legacy ERP systems to the cloud while ensuring continuous quality and performance, which is critical for business outcomes.ERP systems are crucial for managing various business processes but often face challenges due to their complexity and the constant updates required for smooth operation. Traditional manual testing methods can be risky and time-consuming, potentially leading to business disruptions. Opkey's platform leverages AI and machine learning to reduce the time and effort needed for ERP testing. Its AI-powered assistant, Wilfred, uses a patent-pending GenAI Test Mining algorithm to dynamically generate tests tailored to client-specific configurations, enabling enterprises to speed up ERP changes by 50% and reduce defect rates by over 70%. Opkey claims to serve over 200 large enterprise customers, including 72% of the Fortune 1000, and collaborates with major system integrators like KPMG, Huron, and PwC to integrate AI into their projects.Sanket Merchant, Partner at PeakSpan Capital, emphasized the importance of ERP and other enterprise applications, noting that they represent significant investments and are critical to global business operations. He highlighted that current inefficiencies in the ERP life cycle could be addressed by AI-driven solutions like Opkey's, which are essential for ensuring continuous quality in technology delivery and achieving optimal business outcomes.