Already profitable, the investment will let the country focus on amplifying its current infrastructure
It’s been a good year so far in the Baltics. Tallinn-based startup Testlio announced its Series A this week, led by Vertex Ventures and Altos Ventures.
Testlio relies on a network of QA professionals to test software and fix bugs, which boasts utilizing a number of languages and workers from various nationalities. The thrilling thing for the company is that the funding isn’t as essential as most Series A rounds. Testlio is already profitable, claiming to have grown some 500% since its founding.
“Today, we partner closely with some of the most demanding companies in the world,” Testlio CEO Kristel Viidik said in a statement to the press. “In the future, our goal is to change the way companies think about their testing processes as a whole.”
Listing a qualitative sample of companies in the app-testing industry would be a futile endeavor. There are simply too many to cover the scope of the industry fairly. The sector’s size is also difficult to gauge, as it is extremely ubiquitous, even for certain verticals like app-only testing. Technvaio projects 11% annual growth for the global software testing market between 2016 and 2020.
“With mobile applications, every brand is able to directly reach their consumers with a high-fidelity experience,” Viidik added. “Quality assurance plays a critical role in ensuring the best experience possible, and these companies are in need of a trusted partner to help deliver on this mission. We are expanding our service beyond mobile app testing so that we can continue to meet the changing needs of our customers now and in the future.”
Estonia has made a name for itself as the Baltic equivalent of Israel: small with a tremendous impact on global technology markets. The government is enthusiastic about startup investments (launching a 60 million EUR fund in March) and adopting digital public services like e-residency.
Testlio was founded in 2012 by Kristel Viidik and Marko Kruustük. They maintain offices in Tallinn and San Francisco.