Test orchestration platform LambdaTest announced Tuesday that it raised $45 million in fresh financing. Premji Invest led the round for the startup, which couldn’t have come at a better time. Over the last year, LambdaTest has grown its business by 300 percent, according to the company.
Founded in 2017, LambdaTest is on a mission to improve the reliability, speed and performance of test execution. The company’s platform provides users with the ability to test their websites and apps on over 3,000 different combinations of browsers, operating systems and devices.
“A lot of developers and testers need a test execution platform that really caters to their demands. The community has seen very little innovation happening in the testing domain while, in comparison, tools and platforms for developers are constantly pushing the boundaries,” Asad Khan, co-founder and CEO of LambdaTest, said in an email to Built In.
Digital asset testing is considered a critical function to any enterprise that conducts business online. Since businesses don’t have control over how their customers will choose to engage with their product, it’s important that they stay on top of their testing game in order to provide customers with a consistent experience across platforms.
“Given today’s rapid pace of innovation, catching bugs and fixing them early is what distinguishes the best companies from the rest,” Khan said. “Any brand today must offer the best customer experience across all possible types of real devices, OS, browsers and their many versions and, more importantly, at record speeds. Developers and testers are at the center of it all.”
LambdaTest’s platform is used by over 1 million developers globally and it has run more than 100 million tests since its inception, according to the company.
“Over the past year, the pandemic has made it almost imperative for businesses to go digital. Every business is now a software business,” Khan said. “Going digital also means more testing. Investors see us as playing a pivotal role going forward.”
Funds from the latest raise will be used to enhance existing product capabilities and accelerate growth while the company continues to scale. A huge part of that growth plan includes hiring. LambdaTest is currently on the lookout for a dozen fresh faces to join its team. The company, headquartered in India with a presence in San Francisco, plans to hire across departments and around the world.
LambdaTest has raised $70 million in venture capital financing to date, according to the company.
Additional investors Sequoia Capital India, Telstra Ventures and Blume Ventures participated in the latest raise, among others.
