From Expense Management to AI-Powered Software Testing: The Journey of Thunder Code
Back in 2023, the co-founders Karim Jouini and Jihed Othmani made headlines when they sold their expense management startup Expensya to Swedish procurement software firm Medius in what was deemed as one of the largest acquisitions of an African startup. While the exact amount of the deal remains undisclosed, some sources suggest it was over $120 million.
After this success, both founders decided to step away from entrepreneurship, with Jouini taking on the role of CTO in the merged software company, overseeing acquisitions across three continents. However, the allure of a new technological frontier – generative AI – and the possibility of creating something even more significant drew them back into the startup world.
The duo recently launched Thunder Code, a generative AI-powered software testing platform that has already secured $9 million in seed funding. Jouini shared with JS, “It’s pretty crazy because we promised not to do another company because Expensya was too hard. But I think it’s like when people have two kids, they forget how hard the first one was. This new venture is less than six months old and already super intense, but we’re fired up. We’re convinced this is unicorn material.”
Thunder Code aims to revolutionize software testing by using AI-powered “agents” to mimic human testers, speeding up the QA process, detecting UI and UX issues, and learning from feedback. Jouini emphasized the importance of speed in the development process, noting that Thunder Code’s MVP was shipped in just six weeks, showcasing the startup’s commitment to rapid iteration.
The platform is already making waves with paying customers and pilot programs in the U.S., Canada, France, and Tunisia. Thunder Code’s focus is currently on web application testing, with plans to expand into mobile, desktop, and API testing by the end of 2025.
Jouini’s experience with Expensya has shaped Thunder Code’s approach, emphasizing core features, investing in top talent early on, and embracing AI to enhance productivity. He believes that Thunder Code’s lean AI-powered model will generate ten times the value with fewer resources, aligning with the industry’s shift towards more efficient teams.
Despite the challenges of transitioning from expense management to software development tools, Jouini sees a vast opportunity in the software testing market, projected to surpass $100 billion by 2027. Thunder Code competes with established players like Tricentis and BrowserStack, offering a faster, AI-driven solution to meet evolving industry needs.
With headquarters in Paris and an office in Tunis, Thunder Code faces stiff competition in the software testing space. However, Jouini’s partnership with Othmani, who brings expertise in generative AI, and the support of investors from Expensya’s network position the startup for rapid growth and market penetration.
The funding round for Thunder Code includes contributions from Silicon Badia, Jaango Capital, Titan Seed Fund, and strategic angels like Roxanne Varza and Karim Beguir. Former Expensya employees who benefited from the acquisition have also invested in Thunder Code, signaling confidence in the founders’ vision.