- Opkey raised $47 million in a Series B funding round led by PeakSpan Capital.
- Opkey's AI assistant, Wilfred, helps companies accelerate ERP changes by 50% and reduce defects by over 70%.
AI-based continuous test automation platform Opkey has secured $47 million in a Series B funding round led by PeakSpan Capital, with participation from existing investors.
This latest funding, a significant increase from Opkey's previous $12 million, will fuel the company’s global expansion, bolster its sales and marketing teams, and enhance R&D and product innovation.
Opkey, with offices in Dublin, California, and R&D centers in Noida and Bengaluru, uses AI to revolutionize ERP transformation and modernization.
"Opkey's AI-driven platform empowers CIOs to ensure successful ERP transformation and modernization programs," said Pankaj Goel, CEO and Co-founder of Opkey.
The company’s platform helps organizations automate the testing of finance, HR, and other ERP software, addressing the common “SaaS Mess” where multiple applications require constant updates and testing.
Opkey’s AI assistant, Wilfred, utilizes a unique algorithm to customize tests, helping companies accelerate ERP changes by 50% and reduce defects by over 70%. This innovation is critical as manual testing risks disrupting projects and causing financial and reputational damage.
The company serves over 200 enterprise customers, with 72% listed in the Fortune 1000, and collaborates with major systems integrators like KPMG, Huron, and PwC.
"Solutions like Opkey’s are mission-critical for achieving continuous assurance in the delivery of technology that yields optimal business outcomes,” said Sanket Merchant, Partner at PeakSpan Capital.
With the growing reliance on cloud architecture, Opkey’s platform addresses the critical need for reliable ERP testing, ensuring seamless operation across integrated software systems.
Edited by Harshajit Sarmah
