Smartesting raises 4.8 Million euros in third funding round
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Bangalore: Smartesting, designer and developer of software solutions to handle certification and testing of computer applications, has closed a third round of capital investment worth 4.8 million euros. This funding will support expansion of Smartesting's operations within France and internationally. It will also enable the company to accelerate the development of its solutions for the automated migration of vertical applications and integrated management solutions (ERP). The round was led by the company's current investors, namely I-Source, SIPAREX, Capital Investissement Franche-Comte and a business angel. Smartesting management and directors also participated in this operation. Smartesting, which offers solutions to automate migration of vertical applications and ERP systems, had recently opened a subsidiary in Bangalore, India in September 2008. "Our current investors have renewed their trust in our company by supporting our strategy and development. We are confident that our solution, which enables large companies and integrators to rationalize their software test process and thereby increases productivity, offers major growth potential both in France and abroad in today's business context," says Laurent Py, Co-founder and CEO of Smartesting. Eric Harle, Managing Partner at I-Source says, "It has become important for companies to be able to rationalize their testing efforts on major software projects. Smartesting's position in this emerging market is extremely important. I-Source is especially proud to confirm its commitment to this young and growing company and to provide financial resources to support its national and international growth, particularly in India." Formerly known as Leirios, Smartesting was founded in 2003 as a spin-off of the CNRS/INRIA Computer Science Laboratory at the University of Franche-Comte, France.

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