It reminds me of http://www.agitar.com for the java platform.

It is a very useful approach to prevent regressions while working on legacy code.

Alberto Savoya (who is behind agitar) has a nice definition of legacy code : code that has no unit-test.

Unfortunately, Agitar effectively dissolved last year. The company was bought for peanuts, and there is not much left now. Nearly all the employees left if I remember correctly.