LambdaTest Raises $45 Million In Venture Round Led By Premji InvestFunds will be utilized to enhance the existing product capabilities and accelerate growth
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LambdaTest on Wednesday announced to have raised 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. Sandeep Johri, ex-CEO and present board member of Tricentis, has also angel invested in this round. Funds will be utilized to enhance the existing product capabilities and accelerate growth.
"We are razor-focused 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)," said Asad Khan, chief executive officer, LambdaTest.
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, according to a statement by the company.
"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," said Atul Gupta, partner, Premji Invest.
Founded in 2017, end-to-end cloud-based test orchestration platform, 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. 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.
