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With this funding, LambdaTest plans to advance KaneAI, launching AI Native QA Agent-as-a-Service to transform software QA with AI-driven insights, scalable Test Cloud, and advanced HyperExecute automation.
NOIDA, India and SAN FRANCISCO, Dec. 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 the total funding to $108 million. This pivotal investment will accelerate LambdaTest's mission to democratize quality engineering through innovation, and redefine industry standards for web and mobile software quality through its groundbreaking innovation, KaneAI – "AI Native QA Agent-as-a-Service" platform.
With 15,000+ customers including Fortune 500 and G2000 companies, LambdaTest has already established itself as a leader in the QA space. Its latest innovations include KaneAI, an AI-driven QA automation Agent-as-a-Service, and AI native HyperExecute platform, which enables companies to test their digital assets with speed, precision, and scalability.
HyperExecute, LambdaTest's AI Native unified test execution and orchestration cloud, enables teams to run tests upto 70% faster than any cloud grid by running tests intelligently across multiple environments, enabling 2.5x faster test resolution and 60% quicker error detection. The latest platform, KaneAI, can help reduce manual efforts in test script generation, reducing it by 40-70%.
These GenAI-powered innovations address a pressing need for streamlined and efficient QA processes, as software development lifecycles become faster, more rigorous, and increasingly complex.
With a YoY growth of about 105%, LambdaTest has 2.3 million+ developers and testers worldwide, who rely on it to test intelligently, accelerate releases, and ship quality software with confidence and have executed more than 1.2 billion tests till date.
"KaneAI is more than a tool—it's a transformative approach to QA, empowering teams to test smarter and faster, with less manual effort," said Asad Khan, CEO and Co-Founder of LambdaTest. "Our foundation in LambdaTest's cloud-based platform gives us an edge in delivering this solution at scale, and we're thrilled to have the support of Avataar Ventures and Qualcomm Ventures as we reshape the future of QA."
"Asad & team are a force of nature to be reckoned with — in a short period of time they have disrupted the entire market. From creating the first AI-native, no-code QA solution (KaneAI) to launching the only truly e2e Enterprise grade, secure test orchestration platform (HyperExecute), they have totally changed the game & pulled the rug out from under existing CBT vendors. In a world where literally every industry & company is going through digital transformation, LambdaTest now becomes a must-have solution that delivers the best customer experience & accelerated time to market while also meaningfully cutting costs.", said Nishant Rao, Founding Partner at Avataar. "We've been inspired to see the high quality of their growth & are super bullish for the future. Avataar's unique #OperatingVC model will help ensure they have active support at every stage of the journey to translate their first mover advantage into becoming the global market leader (but this time Built in India for the World)!", he added.
"As AI applications on the cloud and on devices become more prevalent, continuous testing with AI-driven automation is essential for accelerating release cycles and improving CI/CD pipeline efficiency," said Quinn Li, Senior Vice President, Qualcomm Technologies, Inc. and Global Head of Qualcomm Ventures. "LambdaTest's comprehensive product suite is transforming software quality assurance with AI-driven autonomous testing systems. We are excited to support their journey."
This investment by Avataar Ventures and Qualcomm Ventures is a testament to the potential of AI-driven tools in the QA market. As companies continue to adopt cloud solutions to streamline their testing processes, LambdaTest's comprehensive approach positions it at the forefront of QA innovation, reinforcing its leadership in a massive and evolving market.
Founded in 2017, LambdaTest has raised nearly $70 million from top investors in previous funding rounds, including Premji Invest, Sequoia Capital India, Titanium Ventures, Leo Capital Holdings, and Blume Ventures.
Note to Editors
About LambdaTest
LambdaTest is an intelligent and omnichannel software quality assurance platform that enables businesses to accelerate time to market through AI-powered cloud-based test authoring, orchestration, and execution. Over 15,000+ customers and 2.3 million+ users across 130+ countries rely on LambdaTest for their testing needs.
- Browser & App Testing Cloud allows users to run both manual and automated tests of web and mobile apps across 5000+ different browsers, real devices, and operating system environments.
- HyperExecute helps customers run and orchestrate test grids in the cloud for any framework and programming language at blazing-fast speeds to cut down on quality test time, helping developers build software faster.
For more information, please visit, https://lambdatest.com
About Avataar Ventures
Avataar is a growth stage, Operational VC fund partnering actively with brilliant regional Tech-led B2B & SaaS startups to Re-invent, Scale & Transform into successful, enduring global businesses. We believe in the promise of India & South-East Asia transforming into B2B product nations, building for the world! We believe in orchestrating a new Enterpreneur-VC equation for the region, where we roll up our sleeves and operate in the trenches with our founders. Together their passion & ideas, coupled with our experience & networks help accelerate each portfolio company's scale-up success formula. For more information, please visit: http://avataar.vc/
About Qualcomm Ventures
Qualcomm Ventures, acting through Qualcomm Ventures LLC or its affiliated entities, has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we look to help entrepreneurs build revolutionary businesses that reshape the world around us. For more information, please visit: www.qualcommventures.com.
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