Software testing startup Symflower GmbH based in Linz raises half million Euros from the Austrian Venture Capital & Private Equity eQventure, Trendig Topics reported. The startup that want to analyze existing software systems fully automatically, will reportedly use the funds to enlarge their team, counting currently seven people, but also to further develop their product. The round was led by the eQventure, but as Austrian media reported, it was also supported by Franz Fuchsberger, co-founder of the software testing company Tricentis, and the Vienna-based software entrepreneur, Thomas Schranz.
With this investment, eQventure received 35% from Symflower and assures that this is only the “first investment tranche” announcing yet another one to come, which will make the funding worth more than a million Euros in total.
Founded in May 2018 by Evelyn Haslinger and Markus Zimmermann, Symflower is a company developed on a basis of Zimmermann graduation thesis. The team is working on autonomous software quality assurance. Importantly the startup is doing the testing software without humans (having in mind that the developers are expensive) and their product fully automatically generates unit-test based on source code analysis. Although the errors found automatically, they are afterward repaired by humans developers.
Additionally, since not all of the companies are ready to share their source code, this very young startup provides an option of using the service “on-premise”, i.e. on their own servers.
“Many companies do not want to release the source code, so you can use Symflower on Premise,” explains Haslinger and adds that based on the source mathematical models would be created, which can then show errors in the code.
At the moment their product supports two programming languages, Java and Go, but the team is promising more languages to be added.
“Java is very common, and Go is the emerging language when it comes to server software. In the future, more programming languages will be added. Symflower is located in the field of white-box testing. We are already deployed in the development process and show errors before the software goes live,” says Haslinger for Trending Topics.
According to Franz Fuchberger, one of the investors in this round, Symflower has a Unicorn potential with their product.
“Increasing the productivity of software developers suddenly by 30 percent and at the same time massively increasing software quality means the next disruption in agile software development. A milestone to dramatically shorten the time to market for software. Symflower has Unicorn potential “, says Fuchberger, Der Brutkasten reported.
eQventure, who is the main investor, provides Austrian companies besides growth capital a strong network as well as straightforward support in all situations from ramping up companies up to restructuring whole enterprises. Behind eQventure are successful entrepreneurs and angels investors who invest their own money and know-how in growth-oriented companies. The European Investment Fund leverages eQventure high-tech investments with its European Angel Fund.