- LambdaTest recently announced it closed $45 million in a venture round led by Premji Invest. These are the details.
LambdaTest – a leading end-to-end cloud-based test orchestration platform – announced it has closed a total of $45 million in a venture round led by Premji Invest with participation from existing investors Sequoia Capital India, Telstra Ventures, Blume Ventures, and Leo Capital. And Sandeep Johri, ex-CEO and present board member of Tricentis, has also angel invested in this round.
LambdaTest is on a mission to push the boundaries of execution speed, performance, and reliability of test execution. The capital will be used primarily for new product innovation. And part of the funding will be used to enhance the existing product capabilities and accelerate growth. The company is also looking to hire across multiple roles and geographies.
LambdaTest’s core test execution platform enables users to test their websites and apps on more than 3,000 different combinations of browsers, operating systems, and their many versions, and also real devices. And testing of digital assets is important for businesses as they have little to no control over the preferences of their customers when it comes to phones, browsers, or operating systems. So to provide a seamless customer experience businesses have to be on top of their testing game.
Launched in 2017, LambdaTest had earlier raised close to $25 million in funding from investment firms such as Sequoia Capital India, Telstra Ventures, Leo Capital Holdings, Blume Ventures, and others. LambdaTest’s platform is used by more than 1 million developers and testers globally. And the company has run over 100 million tests since its inception and has grown its business by 300% in the last year. With the company’s offerings, its customers were able to achieve 95% quicker time-to-market, increase their release productivity by 62% and identify 67% of issues prior to launch.
KEY QUOTES:
“We are razor focussed on making the lives of developers and QA teams easier when it comes to test orchestration and execution. Over the past few months, we’ve released HyperExecute, a next-gen smart test orchestration platform to help businesses run end-to-end automation tests at the fastest speed possible. We will soon be launching our test intelligence platform Test-at-Scale (TAS). It is already in beta. We are also continuously enhancing our core execution platform’s capabilities. This funding round will enable us to keep innovating and accelerating growth. We are on a mission to build the best test execution platform for the developers and testers community.”
— Asad Khan, chief executive officer, LambdaTest
“LambdaTest is helping businesses orchestrate their test execution by providing them cost-effective and scalable solutions while giving them improved control over their existing infrastructure without the need to add more to it. They are pushing the boundaries of speed, reliability and performance of test execution. We are happy to partner with this super ambitious LambdaTest team that is looking to change the face of test execution.”
— Atul Gupta, Partner, Premji Invest
