Lambdatest Closes $45 Million In A Venture Round Led By Premji Invest To Scale Its Software Test Orchestration Platform
PR95216
SAN FRANCISCO, March 30, 2022 /PRNewswire=KYODO JBN/ --
-The company will use the funding to further the innovation that will push the
boundaries of cloud-based test orchestration in terms of execution speed,
performance and reliability
LambdaTest, a leading end-to-end cloud-based test orchestration platform,
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. Sandeep Johri, Ex-CEO and present board member
of Tricentis, has also angel invested in this round.
LambdaTest, which is on a mission to push the boundaries of execution
speed, performance and reliability of test execution, will majorly use the
capital for 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. Hence to provide a seamless customer experience businesses have to be
on top of their testing game.
More importantly, with the ever-increasing pace of innovation in the
digital world, testing is shifting left, which means that software testing is
performed from the very early stages of product development and 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 optimized for
speed, performance, and reliability.
"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
[https://www.lambdatest.com/intl/en-in/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 [https://www.lambdatest.com/intl/en-in/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."
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% in the last year. Using 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.
"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.
About LambdaTest
LambdaTest [https://www.lambdatest.com/] is a leading test orchestration
platform. Its core test execution platform allows users to run both manual and
automated tests of web and mobile apps across 3000+ different browsers, browser
versions, and operating system environments. The company's other offerings
include HyperExecute, a next-gen smart test orchestration platform to help
businesses run end-to-end automation tests at the fastest speed possible, and
Test-at-Scale (TAS), a test intelligence platform.
Over 500 enterprises and 1 mn+ users across 130+ countries rely on
LambdaTest for their test execution needs.
Logo: https://mma.prnewswire.com/media/1721228/Lambda_Test_Logo.jpg
Source: LambdaTest
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