Cloud-based testing platform LambdaTest raises $1 M from Leo Capital in Pre-Series A roundApurva P
LambdaTest was started in 2017 and is a PaaS startup that builds the whole test infrastructure on the cloud for SMBs and enterprises using test management and bug tracking tools.
LambdaTest, a cloud-based testing platform, has raised $1 million in Pre-Series A funding from venture capital firm Leo Capital.
This PaaS (Platform as a Service) startup had raised $400,000 earlier this year from Ramakant Sharma (Co-founder, LivSpace), Lovleen Bhatia and Kapil Tyagi (Co-founders, Edureka), and a few angels from the US.
In a statement, Asad Khan, Co-founder and CEO of LambdaTest, said, “This round of funding showcases the confidence that the industry has in us and this will support us to improve our existing products. The investment is also important in order for us to meet the growing demand for new and better products by our present and future customers."
Headquartered in San Francisco, LambdaTest was started in 2017 by Asad, Harish Sharma, Jay Singh and Shayan with a subsidiary office in Noida. It is a PaaS startup that builds the whole test infrastructure on the cloud for SMBs and enterprises using test management and bug tracking tools like Asana, Slack, JIRA, etc. LambdaTest’s technology claims to offer cross-browser testing on more than 2000 browsers, OS and resolution combinations.
“Our mission from the start has been to make seamless and easy to use testing platform for web developers, testers and others and this update only validates our efforts. We will keep working on new features and providing excellent support to our customers,” Asad added.
On the investment they made in the firm, Rajul Garg, Managing Partner for Leo Capital India Advisors LLP, said, “We believe LambdaTest is poised to be a significant new challenger in this exciting and ever-changing market of cloud testing."
According to Research and Markets, the global automation testing market size is expected to grow from $8.52 billion in 2018 to $ 19.27 billion by 2023, at a CAGR of 17.7 percent during the forecast period.