Conformiq, a developer of products for automated software testing, receives an investment of MEUR 3 and expands into the USA

Investments in companies - 10.2.2009

Conformiq Inc, a Finnish developer of tools and services for automated software testing, has received an investment of MEUR 3 in a financing round headed by Nexit Ventures Oy, in which Finnish Industry Investment Ltd and a group of private American investors participated.

Conformiq will use the new capital to boost its sales and marketing and to pursue further development of its flagship product Conformiq Qtronic. Conformiq will transfer its business management to the USA to be in a better position to serve its rapidly growing customer base in North America. The company will retain its R&D operations in its office in Espoo, Finland.

Conformiq offers tools and services that enable software developers to automate test planning, which is typically slow and error-prone when performed manually. This achieves improved productivity, better testing coverage and fewer software errors.

 

Further information:

- Artturi Tarjanne, partner, Nexit Ventures Oy,
tel. +358 9 6818 910, +358 400 692 992, artturi.tarjanne (at) nexitventures.com, www.conformiq.com

- Henri Grundstén, Director, Finnish Industry Investment Ltd,
tel. +358 50 431 0840, henri.grundsten (at) industryinvestment.com, www.industryinvestment.com