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LambdaTest closes $45 mn funding round led by Premji Invest

LambdaTest closes $45 mn funding round led by Premji Invest

The company said that the new funds will be used for the new product innovation.

Cloud-based test orchestration platform LambdaTest has closed a $45 million in a funding round led by Premji Invest Cloud-based test orchestration platform LambdaTest has closed a $45 million in a funding round led by Premji Invest

Cloud-based test orchestration platform LambdaTest has closed a $45 million in a funding round led by Premji Invest, which included the participation from the existing investors including Sequoia Capital India, Telstra Ventures, Blume Ventures, and Leo Capital. Sandeep Johri, Ex-CEO and present board member of Tricentis, has also angel invested in this round.

The company said that the new funds will be used for the new product innovation. A part of the funds 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 allows users to test their websites and apps on over 3,000 different combinations of browsers, operating systems, and their many versions, and also real devices. 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 in order to provide a seamless customer experience businesses have to be on top of their testing game.

The enterprises are now embarking on software testing from the very early stages of product development which involves both developers and testers (QA), as compared to the earlier ‘waterfall’ model where testing was the last step before the product launch. This increasing need has made businesses yearn for cloud-based solutions that have been optimised for speed, performance, and reliability, LambdaTest said in an official statement.

“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,” said Asad Khan, chief executive officer, LambdaTest.

“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,” Khan added.

Founded 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 over 1 million developers and testers globally. The company has run more than 100 million tests since its inception and has grown its business by 300 per cent in the last year. Using the company’s offerings, its customers were able to achieve 95 per cent quicker time-to-market, increase their release productivity by 62 per cent and identify 67 per cent of issues prior to launch.

“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,” said Atul Gupta, Partner, Premji Invest