# Appvance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/appvance

- Industry: Software
- Headquarters: Santa Clara, US
- Website: www.appvance.ai
- Total disclosed funding: $21M
- Latest round: Series C (Jan 18, 2022)
- Investors on record: 9

## About

Appvance, Inc. specializes in AI-driven autonomous software testing solutions, enhancing software quality assurance for enterprises through its innovative platform, AIQ, which offers comprehensive testing coverage and efficiency.Founded in 2012, Appvance, Inc., headquartered in Santa Clara, US, delivers advanced software testing tools. The company has undergone strategic developments to enhance its product offerings and has completed seven funding deals. Frank Cohen is the founder, and Andre Liao serves as CEO. In its latest funding round, the company raised USD 13.00 mn in Series C funding led by Arrowroot Capital Management, bringing the total amount raised to USD 13.00 mn with a current company valuation of USD 45.365 mn.Appvance provides a suite of AI-driven autonomous software testing tools, primarily through its flagship product, AIQ. This platform offers nearly 100% application coverage with capabilities including AI script generation, allowing for automated test creation across web, mobile, and API applications. The products target a diverse client base, including major insurers and government agencies, and are marketed across North America, Europe, and parts of Asia, meeting the demand for efficient testing solutions in agile development environments.The company's revenue model is subscription-based, allowing clients access to the AIQ platform and associated services. Appvance partners with businesses to improve their software quality assurance processes, offering pricing plans tailored to various testing needs, including both AI script generation and codeless test creation. Their focus is on B2B transactions, collaborating with enterprises to facilitate their digital transformation initiatives.Appvance plans to leverage recent funding to enhance its AI-driven testing solutions and expand into new markets. Specific regions for growth include further penetration into European markets and parts of Asia by the end of 2024. The company is also seeking to develop upcoming products that meet evolving testing demands in software development, supported by new investments from 408 Ventures.

## Funding rounds

- Series C, Jan 18, 2022, $13M — Javelin Venture Partners, Arrowroot Capital Management, TRI HoldCo
- Series A, Feb 12, 2016, $4.9M — Javelin Venture Partners, Harris Barton Asset Management, Three Bridges Ventures
- Series A, Mar 15, 2014, $2.5M — Jon Staenberg, FundersClub, Harris Barton Asset Management, AngelList, The Social Internet Fund, Three Bridges Ventures
- Seed, Apr 18, 2013, $0.4M — FundersClub

## Investors

- FundersClub (https://capitalatlas.ai/funds/fundersclub) — Seed, Series A
- Jon Staenberg — Series A
- Harris Barton Asset Management (https://capitalatlas.ai/funds/harris-barton-asset-management) — Series A
- AngelList — Series A
- The Social Internet Fund (https://capitalatlas.ai/funds/the-social-internet-fund) — Series A
- Three Bridges Ventures (https://capitalatlas.ai/funds/three-bridges-ventures) — Series A
- Javelin Venture Partners (https://capitalatlas.ai/funds/javelin-venture-partners) — Series A, Series C
- Arrowroot Capital Management — Series C
- TRI HoldCo — Series C