Testify, a South Korean startup specializing in generative AI for software quality assurance (QA), has successfully secured a significant seed investment and a prestigious government grant. The company announced it received $69,000 from the Gyeonggi Center for Creative Economy & Innovation. This funding was instrumental in its selection for the highly competitive Tech Incubator Program for Startup (TIPS), positioning Testify for accelerated growth and technological advancement.
A Milestone Achievement
The $69,000 seed investment from the Gyeonggi Center underscores the confidence in Testify's innovative approach to QA automation. The center recognized the startup's differentiated technology and its remarkable financial performance, which saw a 3,200% revenue increase to $2.1 million in its first year. This strategic backing provides both capital and a strong endorsement of the company's potential in the deep-tech sector.
Following the investment, Testify was recommended for and selected by the TIPS program, which is managed by the Ministry of SMEs and Startups. This coveted selection provides the company with up to $345,000 in non-dilutive funding over the next two years. These funds are earmarked for crucial research and development efforts, as well as for accelerating the commercialization of its solutions.
Revolutionizing QA with VeriGEN
At the heart of Testify's success is its flagship solution, VeriGEN, developed by a team of veterans from IT giants like Naver and NHN. This advanced platform leverages a proprietary AI engine trained on over 150,000 real-world enterprise data sets. Its core function is to automatically generate comprehensive test cases, which dramatically streamlines a traditionally labor-intensive and time-consuming process for software developers.
The adoption of VeriGEN delivers substantial efficiency gains for its clients, which include prominent tech companies such as NTS and Socar. The solution is proven to reduce testing speed by 80%, cut operational costs by 55%, and improve defect detection rates by 30%. These metrics demonstrate a clear return on investment and a significant leap forward from conventional manual QA methods.
Strategic Vision and Global Expansion
With the new capital, Testify plans to aggressively enhance the capabilities of its VeriGEN platform. The company will focus on refining its test case generation and automation technologies to further solidify its market position. A key short-term goal is to expand its footprint within the domestic B2B on-premise market, building on its current momentum and growing client base.
Looking ahead, Testify has set its sights on the global stage with a clear and ambitious expansion strategy. The company aims to enter the North American and European Software-as-a-Service (SaaS) markets by 2028. This global push will be facilitated by listing VeriGEN on the AWS Marketplace, making it accessible to a worldwide customer base seeking advanced QA solutions.
CEO Jeong Won-young stated that the investment and TIPS selection are official recognition of the company's technology and vision. He emphasized that Testify will leverage this opportunity to strengthen its R&D capabilities and emerge as a global leader. The company's recent accolades, including an award at the Gyeonggi Deep Tech Startup FLEX demo day, further reinforce its growing prominence.
This dual achievement of securing seed funding and a TIPS grant marks a pivotal moment for Testify, validating its technological prowess and market vision. The strategic infusion of capital and government support will fuel innovation and accelerate its mission to set new standards in the global QA industry. With a powerful solution and a clear roadmap, Testify is solidifying its status as a prominent force in software quality assurance.