LambdaTest rallies global investors raising $16m Series B funding as it rapidly scales
Cloud-based browser testing platform LambdaTest today announced it has secured $16m in Series B funding led by Sequoia Capital.
Telstra Ventures, MENA region investor Wamda Capital and a leading sovereign wealth fund also joined the series B round.
Founded in 2017 by Asad Khan and Jay Singh, LambdaTest is a cloud-based testing infrastructure company that allows users to seamlessly test their websites’ and apps’ look, feel and performance on over 2,000 different browsers and by operating systems and device combinations.
The proliferation of devices and browsers has made it increasingly complex for developers to test their websites and apps. LambdaTest solves this problem by enabling developers to run a variety of tests through their cloud-based platform, spotlight concerns, share immediately with teams and remedy issues quickly.
Since its launch, LambdaTest has attracted over 500,000 developers in 132 countries who have performed more than 20 million tests. Customers include SMEs and Fortune 500 companies such as Xerox, Cisco, Microsoft, Deloitte, Media.net, Coca Cola, Trepp, SurveyMonkey, Capgemini, HBR, 23andme and Dashlane.
Asad Khan, CEO of LambdaTest commented: “Companies are increasingly competing on customer experience1 and as such are releasing software updates faster, more frequently to remain relevant. In doing so, there is a greater demand for continuous testing to ensure quality releases in the production environment.
“In just six short months since the series A round in 2020, LambdaTest has doubled revenues and increased customer numbers by 20%. In that time headcount has doubled in size from 70 people pre-Series A to 150 today across the engineering, sales, and customer success teams.”
Harshjit Sethi, Principal at Sequoia India commented: “As every company is becoming a software company and deployment cycles are shrinking, testing is becoming an increasingly important part of the software development cycle. Additionally testing is now happening earlier and earlier in the development cycle as part of the ‘Shift Left’ movement that companies like LambdaTest are enabling. Operating in a $35bn market for testing software and services, LambdaTest has emerged as the go-to platform for its users in browser testing, evident from its best-in-class ratings across review sites. Sequoia Capital is excited to continue partnering with the LambdaTest team as they execute on their vision of building an end-to-end testing system for developers to enable companies to release more reliable software faster.”