In 2023, Karim Jouini and Jihed Othmani achieved one of Africa’s most significant technology exits when their expense management startup, Expensya, was acquired by Swedish procurement software giant Medius. Although specific terms were not officially disclosed, the purchase reportedly valued Expensya at more than $120 million.
After the successful exit, Jouini and Othmani initially said they had no plans to embark on another venture. Jouini transitioned into a senior technology role at Medius, coordinating integrations across multiple global acquisitions. But the rapid evolution and broad adoption of generative AI reignited their entrepreneurial spirit, convincing them that a transformative opportunity lay ahead.
Now, less than two years later, the duo are back with Thunder Code, a generative AI-driven software testing platform, for which they’ve already secured $9 million in seed funding. Despite earlier reservations, Jouini admits that the pull to create another impactful company was irresistible. “It’s pretty crazy,” Jouini explained. “We promised not to start another company because Expensya had been so demanding. But this new venture, though still quite young, has already proven intensely exciting, and we’re convinced it has extraordinary potential.”
During Jouini’s tenure overseeing technological integrations at Medius, the challenges across diverse platforms and countries reinforced the universal frustration with slow, manual software testing processes. Recognizing an opportunity, the partners founded Thunder Code, aiming to streamline testing with intelligent “agents” driven by generative AI. These AI agents replicate human testers, performing complex QA tasks, detecting subtle UI and UX issues, and continuously improving by learning from user feedback.
Determined to make rapid progress, the founders drew from earlier lessons learned during Expensya’s growth stage. Jouini emphasized speed and agility, resulting in the fast deployment of Thunder Code’s Minimum Viable Product (MVP) within six weeks of inception. “Our MVP was delivered incredibly quickly,” Jouini said. “In just half a year, our current product surpasses where Expensya stood after four years.”
The company already has numerous paid pilot projects underway, serving customers across the United States, Canada, France, and Tunisia. Thunder Code currently specializes in testing web-based applications, with plans to expand its offerings to include mobile, desktop, and API testing by late next year.
In addition to building out its technology platform, Thunder Code is prioritizing acquiring top-tier talent early, a strategy Jouini wholeheartedly supports, even if it means higher early-stage dilution. “Many African entrepreneurs hesitate to dilute their stake early, aiming to retain 100%. We see it as essential to attract the best team possible to build a unicorn-level business. Quality and value creation outweigh those dilution concerns,” he explained.
Leveraging generative AI, Jouini expects Thunder Code to achieve significantly greater value with relatively leaner teams. He acknowledges that moving from expense management software to developer tools may seem like a significant leap, but he believes software testing’s projected growth—expected to exceed $100 billion by 2027—more than justifies the decision. He observes substantial opportunities to displace legacy code-based testing platforms, which could struggle to swiftly integrate emerging AI capabilities.
Though Thunder Code enters an increasingly competitive space with new startups and existing firms striving to leverage AI for software testing—including UiPath, Jetify, and Nova AI—Jouini remains confident. He cites co-founder Othmani’s extensive generative AI experience, including early implementations at Expensya, as a major differentiator and believes their shared track record and complementary expertise position them uniquely for rapid growth.
The $9 million seed round attracted several familiar investors, including early Expensya backers Silicon Badia and Jaango Capital, as well as newcomers Titan Seed Fund and angel investors like Roxanne Varza, Director of Station F, and Karim Beguir, CEO of Instadeep. A notable highlight is the participation of current and former Expensya employees who profited from its acquisition and have reinvested their earnings. Jouini proudly highlighted this alignment, “Some of our investors are former employees—it’s gratifying to see that come full circle.”
With offices based in Paris and Tunis, Thunder Code is now well positioned financially and strategically as it aims to rapidly capture a substantial portion of the fast-growing AI-driven testing market.
