Total amount raised
$108 Millions
Latest funding date
12/1/2024
Location
LambdaTest has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers cloud-based tools for cross-browser testing, enabling developers to ensure their web applications work seamlessly across various browsers and operating systems.
Keep reading to explore the intricacies of LambdaTest's fundraising journey and the investors backing this innovative platform.
What Is LambdaTest?
LambdaTest, founded in June 2017, is headquartered in San Francisco, California. The company was established by Asad Khan, Jay Singh, and Mayank Bhola.
Specializing in cloud-based tools, LambdaTest enables developers to perform cross-browser testing on web applications across various browsers and operating systems. Their platform supports both real-time and automated testing.
With a team of 251-500 employees, LambdaTest continues to innovate in the software testing industry, offering solutions like AI-native test management and fast test orchestration.
How Much Funding Has LambdaTest Raised?
- Seed Round
- Amount Raised: $1M
- Date: Dec 12, 2018
- Lead Investors: Leo Capital Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their cloud-based testing platform.
- Seed Round
- Amount Raised: $2M
- Date: Nov 8, 2019
- Lead Investors: Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product offerings and scale operations.
- Series A
- Amount Raised: $6M
- Date: Dec 2, 2020
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product innovation and expand the team.
- Series B
- Amount Raised: $16M
- Date: Jun 2, 2021
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve existing product capabilities.
- Series C
- Amount Raised: $45M
- Date: Mar 29, 2022
- Lead Investors: Premji Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build new products and enhance existing ones.
- Series D
- Amount Raised: $38M
- Date: Dec 10, 2024
- Lead Investors: Avataar Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and innovate in the testing space.
Total Amount Raised: $108M. Current Valuation: Not publicly disclosed.
Key Investors
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji's endowment and philanthropic initiatives. It focuses on growth-stage investments in various sectors.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: PolicyBazaar, Lenskart, Flipkart.
- Sequoia Capital India
- Details: Sequoia Capital India is a venture capital firm that invests in early and growth-stage companies in India and Southeast Asia. It is known for backing high-growth startups.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Byju's, Zomato, OYO Rooms.
- Telstra Ventures
- Details: Telstra Ventures is a venture capital firm that provides investment to technology companies. It is a strategic investor with a focus on innovation.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Box, DocuSign, CrowdStrike.
- Blume Ventures
- Details: Blume Ventures is an early-stage venture capital firm that funds startups in India. It offers both funding and active mentoring to its portfolio companies.
- Investment Focus Areas: Technology, media, consumer internet.
- Notable Investments: Unacademy, Dunzo, HealthifyMe.
- Leo Capital
- Details: Leo Capital is a venture capital firm that invests in early-stage technology startups in India and Southeast Asia. It focuses on high-potential tech companies.
- Investment Focus Areas: Technology, consumer internet, fintech.
- Notable Investments: LBB, Sugar Cosmetics, Shuttl.
What's Next for LambdaTest?
LambdaTest stands at the cusp of significant growth opportunities, driven by the increasing demand for cloud-based testing solutions. With the recent $45 million funding round, the company is poised to innovate and expand its product offerings, including new tools like HyperExecute and Test-at-Scale. The platform's ability to test across over 3,000 browser and OS combinations positions it well to capture a larger market share.
Future fundraising seems likely as LambdaTest continues to scale and attract more users. The company’s rapid growth and the backing of prominent investors suggest that additional venture rounds could be on the horizon. However, challenges such as intense competition from established players like BrowserStack and the need to maintain innovation and quality as they scale will be critical hurdles to navigate.
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