Assertion Supported
Keil claims Micro Focus's legacy HP software business is declining rapidly
“HP merged with its software business with Microfocus a year ago. And it's again, public record that that business has been declining very rapidly.”
Assertion Not checkable as stated
Merged Tricentis and QASymphony entity targets $80M to $100M ARR
“Yeah, yeah, yeah, we're gonna be in that 80 to a hundred range.”
Prediction Not checkable as stated
Keil predicts merged Tricentis-QASymphony can reach a billion-dollar valuation
“We have no reason to believe we can't get to be a billion dollar company, and I'm sure there'll be some others that also have a similar path.”
Assertion Not checkable as stated
QA Symphony Scaled to $20M ARR Run Rate in Under Four Years
“We've grown essentially from zero to twenty million in less than four years. It's a hundred percent of a recurring business model.”
Assertion Not checkable as stated
QA Symphony grows nearly 100% YoY to hit $20M ARR
“We continue to have nearly a hundred percent growth year over year. We're about to hit that twenty million recurring revenue mark this month. We'll celebrate that in about two weeks.”
Disclosure
QA Symphony-Tricentis merger expects September close and year-end integration
“We expect to close that deal legally in early September and come together as one cohesive company by the end of the year.”
Assertion Supported
Keil estimates the overall software testing market at $35 billion
“And we believe, as one company now, we are extremely well positioned to undoubtedly lead this space of overall software testing, which is a thirty five billion dollar market.”
Assertion Not checkable as stated
Combined Tricentis-QASymphony entity expects revenue growth over 70% YoY
“Listen, we're growing as a collective company, you know, in kind of the, you know, 70% plus.”
Disclosure
QASymphony-Tricentis merger avoids layoffs and begins massive hiring phase
“What we were able to say here with a hundred percent confidence and credibility is that, There was no cost reduction, that this is all about growth, that the teams are entirely complimentary, and we literally are in a massive hiring phase and are not reducing …”
Disclosure
QASymphony and Tricentis will unite platforms, launching first phase in October
“No, we're absolutely going to combine the product strategy will have a combination of the different aspects into one common platform. And we actually are going to launch the first phase of that combined entity at accelerate in October, which is Tricentis' annu…”
Disclosure
All QASymphony institutional investors rolled equity into merged Tricentis entity
“In, in this case, all of our institutional investors were, have been extremely, Excited to remain with the company and feel very confident. So they've rolled their investment forward.”
Disclosure
Keil confirms QASymphony-Tricentis merger was an all-stock deal
“No, no cash. Tricentis had significant Cash on their balance sheet from raising money two years ago, so that was not a need that we have at this time.”
Assertion Not checkable as stated
QA Symphony Lists Software at $1,000 Per User With $50K Average ACV
“Our software list price is approximately a thousand dollars per user per year. So a, we have many clients who are in that 20 to 30,000 starting point range per year. At the same time, we work with large enterprises that are paying us, you know, two, 304 100,00…”
Assertion Not checkable as stated
QA Symphony Serves 570 Enterprise Customers
“Yeah, we have 570 customers today with, you know, thousands and thousands of users.”
Disclosure
Keil: QA Symphony raised $47.5M across three funding rounds
“The first round was a two and a half million dollar raise in, in 2015. We raised five million in our series B in early 2016. And then we did a much bigger raise in early 2017 with insight ventures where we raised forty million.”
Assertion Not checkable as stated
Keil: QA Symphony increased ASP every quarter for four years
“Each and every quarter have seen a nice uptick in our ASP.”
Assertion Supported
Keil: QASymphony secured early enterprise wins including Nordstrom, Barclays, and Amazon
“We started to get some early wins with companies like Nordstrom and companies like Barclays and companies in the e-commerce space like Amazon.”
Assertion Not checkable as stated
Keil: QASymphony generates nearly 80% of its business through inbound leads
“We're getting nearly 80% of our business through inbound leads.”
Prediction Not checkable as stated
Keil: QASymphony will be cashflow positive later in 2018
“And we'll, we'll be cashflow positive later this year.”
Assertion Not checkable as stated
Keil: QASymphony sees 85% to 90% gross retention plus 25% to 30% expansion
“That's gross. And so we would generally see about 85 to 90% retention in a given year. And then we would add 25 to 30% of additional revenue from that current customer to get to that one 15 metric I spoke about.”
Assertion Not checkable as stated
Keil: Software testing is a $40B market, QASymphony targets $3B-$4B
“The market is about a forty billion dollar market. We're targeting a slice of that today in the three to four billion range, but it's a huge market and plenty of room for folks like sauce and others to do well in.”
Disclosure
QASymphony Customer LTV Exceeds $150,000 Driven by $50,000 New ACV
“Our average customer today, our new average customer is about 50,000, but our historical average, really, if you look at the entire life cycle is closer to 30,000. And, you know, since we're able to keep these customers on average for, you know, six plus years…”
Disclosure
QA Symphony reaches 145 employees and 648 customers
“So we're at about 145 now employees. And about 648 customers as of this Monday.”
Assertion Partly supported
Keil: QA Symphony spun out from KMS with 30 developers in 2011
“So they had the idea to build out the next generation agile testing platform back in 2011 and started the business by taking 30 of their developers from the services business called KMS and starting QA Symphony in a separate building.”
