Federico Toledo, co-founder of Abstracta grew up in the countryside in a humble family near Atlántida in Uruguay, 50 kilometers from the capital, Montevideo. He attended a rural school of only 50 children where he never lacked the basics, but it was a very strained situation, where they got by day to day. He completed his degree in Computer Engineering as College in Uruguay is free. He was able to develop professionally and continue studying. He now holds a Ph.D. in Computer Science from the UCLM, in Spain. He published the first testing book entirely in Spanish called "Introduction to Information Systems Testing”. We talked to him about his venture, Abstracta.

About Abstracta

Abstracta is a leading agile software testing company. It applies highly sophisticated engineering and automation processes to testing practices and the software development lifecycle. To achieve this, they focus on increasing product quality and reducing software build times.

Identity

Abstracta is a bootstrapped company that was born from the idea of 3 college friends: Fabián Baptista, Federico Toledo, and Matías Reina. Years later, Sofía Palamarchuk was invited to join as a partner.

Founded in Uruguay in 2008 currently, it has offices in Silicon Valley, Latin America, and the UK. Fernando and the team believe in the method, warmth, and in dedication. And, above all, they know that extraordinary software increases performance simplifies lives, and transforms communities. Promoting a culture of mutual care and being a positive influence in the lives of their people and clients is above all else. That is the core of their identity. It is an ethical and immutable imperative.

Inspiration and Purpose

“I know how having good growth opportunities at work can improve people's quality of life. My dream is to help people to improve their quality of life through employment, as I did. That is what truly motivates me and guides my path. Much of my growth is thanks to the opportunities my home country has given me. There are incredible opportunities to grow in Uruguay and be the change we want to see. That's why I founded Abstracta with my partners,” Federico Toledo.

Revenue and Investment Structure

In order to turn their dream company into a reality, the team received support from the National Agency for Research and Innovation (ANII) and other organizations. They stand out for offering services that are charged to clients on a "time and materials" basis, or with a fixed monthly cost. The value depends on the monthly dedication and the size of the team needed to cover the objectives. On the other hand, they currently have some testing products that have taken a life of their own in a spin-off form, as is the case of Apptim. And some products that are still within Abstracta, such as GXtest.

Once Abstracta became a household name in software testing and it was established as a profitable, sustainable and scalable company, they decided to start franchising worldwide. The first franchise we opened was in Chile in 2019, and they expect to continue expanding much further.

Markets and Industries of Impact

Their main markets/industries to impact are e-commerce, financial services, healthcare, and the tech industry

E-commerce:
The main focus is on software testing to achieve the delivery of high-quality online shopping experiences on both desktop and mobile devices.

Financial services:
Internet banking is the fastest-growing channel in the Financial Services sector. This growth, combined with the increased importance of providing access via mobile devices, makes it imperative to find the right strategic partner for software testing. Abstracta helps to ensure that systems are reliable and secure leaving companies free to focus on running their business.

Healthcare:
Abstracta ensures that the healthcare systems keep patient data safe, reliable, comply with regulations and adhere to industry standards while reducing risk and costs.

Tech Industry:
Creating reliable and robust software to bring to market and minimize risk is one of their main objectives. Abstracta has over a decade’s worth of experience working with eminent technology companies and solution providers across the globe. They understand the challenges that companies face in today’s competitive market and can provide the extra capacity they need to move forward faster.

Current Funding and Capitalization

As a financing strategy they have leveraged loans from IDB Labs for new spinoffs focused on solving social problems, and loans from ANII, for expansion into other markets.

To expand to other countries, they follow the strategy of finding partners to open a franchise, who should invest in opening the business in other countries and develop the testing community locally.

For Abstracta, it’s very important to share common ground with their partners to co-build better software while contributing to community development and people's quality of life.

Abstracta, Tech With Purpose From Latin America