LambdaTest Closes $38M Funding Round to Revolutionize Quality Assurance with AI-Native QA Agent-as-a-Service
https://ui-avatars.com/api/[email protected]&background=64&color=fff&font-size=0.5&rounded=false&format=pngby John Andrew — December 10, 2024 in twitter
With this funding investment, LambdaTest will advance KaneAI and launch an AI Native QA Agent-as-a-Service to transform software quality assurance with AI-driven insights, scalable test cloud, and advanced HyperExecute automation.
NOIDA, India and SAN FRANCISCO, December 10, 2024 /PRNewswire/ — LambdaTest, the leading cloud-based unified testing platform, has secured a $38 million funding round led by Avataar Ventures with participation from Qualcomm Ventures, bringing its total funding to $108 million . USD increased. This critical investment will accelerate LambdaTest's mission to democratize quality engineering through innovation and set industry standards for web and mobile software quality through breakthrough innovation KaneAI – Redefine “AI Native QA Agent-as-a-Service” platform.
From left to right: Maneesh Sharma, Jay Singh, Asad Khan, Mayank Bhola
With more than 15,000 customers, including Fortune 500 and G2000 companies, LambdaTest has already established itself as a leader in the QA space. The latest innovations include KaneAI, an AI-driven QA automation agent-as-a-service, and the AI native HyperExecute Platform that enables companies to test their digital assets with speed, precision and scalability.
HyperExecute, LambdaTest's AI-native, unified cloud test execution and orchestration solution, enables teams to execute tests up to 70% faster than any cloud grid by intelligently executing tests across multiple environments, providing a 2.5x faster test resolution and one 60% faster error detection enabled. The latest platform, KaneAI, can help reduce manual effort in creating test scripts by 40 to 70%.
These GenAI-powered innovations address the urgent need for streamlined and efficient QA processes as software development lifecycles become faster, stronger and more complex.
With approximately 105% year-over-year growth, LambdaTest has more than 2.3 million developers and testers worldwide trusted to test intelligently, accelerate releases, and ship high-quality software with confidence, and to date, more than 1.2 billion tests conducted.
“KaneAI is more than just a tool – it is a transformative approach to quality assurance that empowers teams to test smarter and faster, with less manual effort,” said Asad KhanCEO and co-founder of LambdaTest. “Our foundation in LambdaTest’s cloud-based platform gives us an advantage in delivering this solution at scale, and we are pleased to have the support of Avataar Ventures and Qualcomm Ventures as we reshape the future of quality assurance.”
“Asad & team are a force of nature to be reckoned with – in a short space of time they have shaken up the entire market. From developing the first AI-native, no-code QA solution (KaneAI) to launching the only truly end-to-end, secure enterprise test orchestration platform (HyperExecute), they have completely changed the game and pulled the rug out from under existing CBT providers . “In a world where every industry and company is undergoing digital transformation, LambdaTest is becoming an essential solution that delivers the best customer experience and accelerated time to market while significantly reducing costs,” said Nishant RaoFounding partner at Avataar. “We are excited about the high quality of their growth and are very optimistic for the future.” “Avataar's unique #OperatingVC model will help ensure they receive active support at every stage of the journey to leverage their first-mover advantage global leader (but this time built in India for the world),” he added.
“As AI applications become centralized in the cloud and on devices, continuous testing with AI-driven automation is essential to accelerate release cycles and improve the efficiency of the CI/CD pipeline,” said Quinn LiSenior Vice President, Qualcomm Technologies, Inc. and Global Head of Qualcomm Ventures. “LambdaTest’s comprehensive product range is transforming software quality assurance with AI-driven autonomous testing systems.” We look forward to supporting their journey.
This investment from Avataar Ventures and Qualcomm Ventures is a testament to the potential of AI-driven tools in the QA market. As organizations continue to adopt cloud solutions to streamline their testing processes, LambdaTest's comprehensive approach positions itself at the forefront of QA innovation and strengthens its leadership position in a massive and evolving market.
Founded in 2017, LambdaTest has raised nearly $70 million in previous funding rounds from top investors including Premji Invest, Sequoia Capital India, Titanium Ventures, Leo Capital Holdings and Blume Ventures.
Note to editors
Information about LambdaTest
LambdaTest is an intelligent and cross-channel software quality assurance platform that enables companies to accelerate time to market through AI-powered, cloud-based test creation, orchestration and execution. Over 15,000+ customers and 2.3 million+ users in over 130+ countries trust LambdaTest for their testing needs.
• The Browser and App Testing Cloud enables users to perform both manual and automated testing of web and mobile applications across more than 5,000 different browsers, real-world devices, and operating system environments.
• HyperExecute helps customers execute and orchestrate test grids in the cloud for any framework and programming language at high speed, reducing quality testing time and helping developers build software faster.
Further information can be found at:
About Avataar Ventures
Avataar is a growth-stage operating VC fund that actively works with brilliant regional technology-led B2B and SaaS startups to rediscover, scale and transform them into successful, enduring global companies. We believe in the promise of India and Southeast Asia transforming into B2B product nations and building for the world! We believe in a new entrepreneurial VC equation for the region, where we roll up our sleeves and work with our founders on the front lines. Their passion and ideas, coupled with our experience and networks, help accelerate each portfolio company's successful scale-up formula. Further information can be found at:
About Qualcomm Ventures
Qualcomm Ventures, through Qualcomm Ventures LLC or its affiliate, has been making strategic investments since 2000 in technology companies that have the potential to fundamentally change our world. As a global investor, we want to help entrepreneurs build revolutionary companies that reshape the world around us. For more information, visit: www.qualcommventures.com.
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