[Funding alert] LambdaTest raises $16M in Series B led by Sequoia Capital India
Cloud-based browser testing platform LambdaTest has raised Series B funding of $16 million led by Sequoia Capital India, with participation from Telstra Ventures, MENA region investor Wamda Capital, and a leading sovereign wealth fund.
In a statement, CEO Asad Khan said, “LambdaTest’s vision is to empower 23 million developers and testers worldwide with a powerful, comprehensive, and secure continuous quality test platform. Our upcoming product lines will enable tech teams to ship high-quality code seamlessly boosting their release velocity."
The startup will use the latest funding towards scaling the testing ecosystem and building next-generation cloud infrastructure for users.
It also plans to broaden its reach with the tester community by engaging with developers with a new suite of products set to launch in 2021. These products are "designed for them to perform tests on scale", claimed the company.
LambdaTest is targeting aggressive growth with new products to cover a broader set of testing needs and plans for 30 new hires in 2021. Its earlier investors include Blume Ventures, Leo Capital, and a clutch of seasoned tech founders, who have invested as angels.
Founded in 2017 by Asad Khan and Jay Singh, San Francisco-based LambdaTest is a cloud-based testing infrastructure company that allows users to test their websites’ and apps’ look, feel, and performance on over 2,000 different browsers and by operating systems and device combinations.
Since its launch, the startup claims to have attracted over 500,000 developers in 132 countries who have performed more than 20 million tests. Its 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 added, “Companies are increasingly competing on customer experience 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 months since the startup raised its Series A round, LambdaTest claims to have doubled its revenues and increased customer numbers by 20 percent. Its headcount has also doubled from 70 people to 150 today across engineering, sales, and customer success teams.