LambdaTest, a cloud-based cross-browser app testing platform, has raised $45 million in funding led by Premji Invest with participation from existing investors Sequoia Capital India, Telstra Ventures, Blume Ventures, and Leo Capital, the company said on March 29.
Former Tricentis CEO Sandeep Johri was also part of this round as an angel investor. With this, LambdaTest has raised nearly $70 million to date. It also counts Sequoia Capital India, Telstra Ventures, Leo Capital Holdings, Blume Ventures, and others as investors.
The startup plans to use the capital raised for building new products, improving the capabilities of its existing products and accelerating growth. The company said it is also looking to hire people across multiple roles and geographies.
Founded in 2017 by Asad Khan and Jay Singh, LambdaTest allows web developers to test their websites and apps on over 3,000 different combinations of browsers (and their different versions), operating system environments and devices.
The company says that its platform is used by over 500 enterprises and over one million developers and testers across more than 130 countries. Its clientele include Microsoft, GE, Cisco, Xerox, Deloitte, EY, and Finnair.
LambdaTest claims to have run more than 100 million tests since its inception and also claims that its customers were able to achieve 95 percent quicker time-to-market, increase their release productivity by 62 percent and identify 67 percent of issues prior to launch using its platform.
“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.
Atul Gupta, Partner, Premji Invest said, "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"
Another player in this space is Browserstack that had raised $200 million at a $4 billion valuation in June last year. The funding round was led by Bond Capital, with participation from Insight Partners and existing investor Accel.
