Opkey Secures $47 Million in Series B Funding

Opkey, an AI continuous test automation platform for enterprise systems, has secured $47 million in Series B funding led by PeakSpan Capital, with participation from existing investors like UST Global, Verica, Vertical, and India’s YouNest.

According to a press release, the funding will drive Opkey’s mission to streamline cloud ERP transformations, accelerate AI-enhanced product development, expand ERP platform support, grow global sales and marketing teams, and invest in R&D to lead the emerging “ERP Ops” category.

Pankaj Goel, CEO and co-founder of Opkey, said: “Opkey’s AI-driven platform empowers Chief Information Officers (CIOs) to ensure successful ERP transformation and modernization programs, by revolutionizing the way enterprises approach Cloud ERP migration. This funding will allow us to further enhance our technology and expand our reach, helping more organizations seamlessly migrate their legacy ERP systems to the cloud while ensuring continuous quality and performance, given its criticality to business outcomes.”

Sanket Merchant, Partner of PeakSpan Capital, said: “We’re excited to partner with Pankaj and the Opkey team as they pioneer the next frontier of innovation in ERP modernization, delivering unparalleled assurance through continuous, AI-enabled test automation. As thematic B2B software investors, we understand the criticality of ERP and other enterprise applications (e.g., HRIS, CRM), which represent significant investments and operate as the central nervous system powering global business operations. We believe that, given the inefficiencies that exist today in all phases of the ERP life cycle, a new category of solutions will emerge, utilizing AI to address the high failure rate of cloud transformation and automate critical areas of implementation, testing, and support. Solutions like Opkey’s are mission critical for achieving continuous assurance in the delivery of technology that yields optimal business outcomes. We could not be more energized to support Opkey’s vision for ERP Ops, which will help CIOs with their ERP transformation and modernization initiatives by providing a common data fabric, resilience in their technology strategy, and optimize table stakes business performance.”

(Image Credit: Opkey)

About Opkey:

Founded in 2016, Opkey is an AI-powered, no-code test automation platform designed for enterprise ERP systems. It enables organizations to fast-track their ERP modernization efforts by simplifying and automating the testing process. The platform ensures alignment with release schedules, mitigates risks and maintains uninterrupted business operations.

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