LambdaTest, a company that provides a cloud-based platform for testing software, has recently secured $38 million in funding during its Series D investment round. This funding will help the company grow its operations in the markets where it already operates and enhance its artificial intelligence (AI) capabilities.
The Series D funding round was led by Avataar Ventures, with additional investment from Qualcomm Ventures. With this latest round of funding, LambdaTest has now raised a total of $108 million since it started.
LambdaTest offers a service that allows businesses to test their applications on over 5,000 different combinations of web browsers and operating systems. This means that instead of needing to invest in expensive testing setups and equipment, companies can use LambdaTest’s cloud platform to ensure their software works properly across various platforms and devices. The company also has labs filled with thousands of devices specifically for testing purposes.
This investment comes at a time when software testing is becoming more challenging due to the increasing use of AI-generated code. A survey conducted by LambdaTest, which included responses from over 1,600 enterprise teams, revealed that only 23% of the time spent on testing is dedicated to creating and planning tests. The majority of the time is taken up by maintenance tasks, such as fixing broken tests, troubleshooting issues, and setting up testing environments.
To address these challenges, LambdaTest has recently introduced a new platform called KaneAI. This platform is designed to automate many of the repetitive and tedious tasks involved in software testing. According to LambdaTest, KaneAI can reduce the amount of manual work needed to create test scripts by 40% to 70%.
Asad Khan, the CEO and co-founder of LambdaTest, emphasized that KaneAI is not just a simple tool but a revolutionary approach to quality assurance (QA). He stated that it enables teams to conduct tests more efficiently and with less manual effort, thanks to the cloud-based infrastructure that LambdaTest provides.
Additionally, LambdaTest claims that its HyperExecute platform allows teams to run tests up to 70% faster than traditional cloud testing methods. This platform also improves the speed at which errors are identified and resolved.
The company has developed several useful features, such as the ability to identify unreliable tests, which has reportedly helped reduce the time spent on error reporting and analysis by 40%. It also offers smart analytics that automatically categorize errors, retry failed tests, and reorder tests to provide quicker feedback to users.
Quinn Li, a senior executive at Qualcomm, noted that as AI becomes more common in cloud applications and devices, it is crucial to have continuous testing powered by AI automation. He believes that LambdaTest’s comprehensive suite of products is transforming software quality assurance with its innovative testing systems, and he is excited to support the company’s growth.
LambdaTest competes with other companies like BrowserStack and SauceLabs and plans to use the new funding to strengthen its position in existing markets and expand its technology offerings.
Nishant Rao, a founding partner at Avataar Ventures, praised Asad Khan and his team for their rapid success in disrupting the software testing market. He highlighted their achievements, including the development of the first AI-native, no-code QA solution and a secure test orchestration platform.
Since its founding in 2017, LambdaTest has attracted over 15,000 customers, including major companies in industries like finance, insurance, travel, retail, and healthcare. The company reports that its users have conducted more than 1.2 billion tests on its platform.
Avendus, a financial services company, provided advice to LambdaTest during this recent funding round.
