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LambdaTest Revenue, Valuation, Funding & Investors
LambdaTest is valued at $400M as of December 2024, a 21.1x multiple on its last reported $19M revenue.
Last LambdaTest valuation
$400M
Series D · Dec 2024
Last LambdaTest funding round
$38M
Series D · Dec 2024
LambdaTest revenue
$19M
Series D · Dec 2024
Key investors in LambdaTest
Peak XV Partners
Blume Ventures
Leo Capital Holdings
Titanium Ventures
Qualcomm Ventures
Entrée Capital
About LambdaTest
LambdaTest is a cloud infrastructure for cross-browser and cross-device testing of web and mobile applications. The platform supports over 3,000 browser-OS combinations including Chrome, Firefox, Safari, and Edge on real devices, with features for live interactive testing, automated Selenium and Cypress scripts, visual regression, and APK uploads. Founded in 2017 and headquartered in San Francisco with offices in London and Sydney, it serves 10,000+ teams at companies like Microsoft, Adobe, and BBC, reducing testing time by 70% through parallel execution.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Revenue
$19M (Dec 2024)
Valuation
$400M (Dec 2024)
LambdaTest Valuation
LambdaTest is currently valued at $400M, based on its Series D in December 2024.
The $38M round was led by Avataar Venture Partners, with participation from Qualcomm Ventures.
LambdaTest valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2024 | Series D | $400M | 21.1x |
LambdaTest Revenue
LambdaTest's latest recorded revenue is $19M, as of its Series D in December 2024. At a $400M valuation, that implies a 21.1x revenue multiple.
LambdaTest revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2024 | $19M | $400M | 21.1x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
LambdaTest Funding History
LambdaTest has raised a total of $108M across 6 funding rounds.
LambdaTest's first fundraising round was a $1M seed round in December 2018. The most recent completed round was a $38M Series D in December 2024.
LambdaTest funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2024 | Series D | Avataar Venture Partners (lead); Qualcomm Ventures | $38M | $400M | LambdaTest is a cloud-based unified testing platform for mobile and web applications, specializing in AI-driven quality assurance tools like KaneAI, a no-code QA agent-as-a-service, and HyperExecute for enterprise-grade test orchestration. Founded in 2017 and headquartered in California with around 400 employees across India, the US, and UK, it serves over 15,000 customers including Fortune 500 enterprises in sectors like financial services, insurance, travel, retail, and healthcare. Users include 2.3 million developers and testers worldwide who have executed more than 1.2 billion tests on the platform. On December 10, 2024, LambdaTest raised $38 million in a Series D funding round led by Avataar Venture Partners, with participation from Qualcomm Ventures and other existing investors, bringing total funding to $108 million. Previous backers include Premji Invest, Peak XV Partners (formerly Sequoia Capital India), Blume Ventures, Titanium Ventures, and Leo Capital Holdings. The round, advised by Avendus, values the company in the $400-500 million range according to sources, though not officially disclosed. Funds will expand AI innovations, particularly KaneAI, hire engineering talent (15-20% workforce growth), scale products, and deepen market presence against competitors like BrowserStack and Sauce Labs. LambdaTest reported 105% year-on-year growth in Annual Recurring Revenue, with its India entity posting Rs 177 crore in revenue and Rs 18 crore net profit for FY24 (April 2023-March 2024). The investment underscores investor enthusiasm for AI-native SaaS in quality engineering amid rising demand for faster CI/CD pipelines and cost-efficient testing in cloud and device-based AI applications. Avataar Ventures highlighted LambdaTest's market disruption and first-mover advantages, positioning it to become a global leader built in India for the world. |
| Mar 2022 | Series C | Premji Invest (lead); Leo Capital; Titanium Ventures; Blume Ventures; Sandeep Johri; Peak XV Partners | $45M | - | LambdaTest is a cloud-based test orchestration platform founded in 2017 by Asad Khan and Jay Singh, with operations in San Francisco and Noida. The platform enables developers and testers to run manual and automated tests of web and mobile applications across more than 3,000 different combinations of browsers, operating systems, and their versions, as well as real devices. By the time of this funding round, the platform was used by over 1 million developers and testers globally and had executed more than 100 million tests since inception. In March 2022, LambdaTest raised $45 million in Series C funding led by Premji Invest, with participation from existing investors Sequoia Capital India, Telstra Ventures, Blume Ventures, and Leo Capital, as well as Sandeep Johri, former CEO of Tricentis. This brought the company's total all-time funding to $70 million. The company planned to deploy the capital primarily toward new product innovation and go-to-market initiatives, with additional focus on enhancing existing product capabilities and expanding hiring across multiple roles and geographies. At the time, LambdaTest was preparing to launch Test-at-Scale (TAS), a test intelligence platform already in beta, which the company claimed could reduce test duration by up to 95 percent and optimize infrastructure requirements. Customers reported achieving 95 percent quicker time-to-market, 62 percent increase in release productivity, and identification of 67 percent of issues prior to launch using LambdaTest's offerings. The company had demonstrated 300 percent year-over-year business growth heading into the funding round. |
| Jun 2021 | Series B | Peak XV Partners (lead); Titanium Ventures; Wamda Capital | $16M | - | LambdaTest raised $16 million in its Series B funding round in June 2021, led by Peak XV Partners. The round included participation from investors such as Titanium Ventures and Wamda Capital, aimed at scaling the business and enhancing platform capabilities. LambdaTest provides a cloud-based testing platform supporting over 10,000 real devices and 3,000 browsers for quality engineering. The company has continued to expand, securing subsequent rounds including a Series D of $38 million in December 2024 led by Avataar Venture Partners, bringing total funding to $108 million. |
| Dec 2020 | Series A | Peak XV Partners (lead); Ramakant Sharma; Gokul Rajaram; Blume Ventures; Entrée Capital; Maneesh Sharma; Leo Capital Holdings | $6M | - | - |
| Nov 2019 | Seed | Blume Ventures (lead); Leo Capital Holdings | $2M | - | - |
| Dec 2018 | Seed | Leo Capital Holdings (lead) | $1M | - | - |
Who has invested in LambdaTest?
14 investors have backed LambdaTest across its funding rounds, including Peak XV Partners, Blume Ventures, Leo Capital Holdings, Titanium Ventures, Qualcomm Ventures and Entrée Capital.
Lead investors include Avataar Venture Partners, Premji Invest, Peak XV Partners, Blume Ventures and Leo Capital Holdings.
LambdaTest Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Nov 2019 | ||
| 3 | Lead | Dec 2018 | ||
| 3 | Lead | Dec 2020 | ||
| 2 | Participant | Jun 2021 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Dec 2024 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Lead | Mar 2022 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
This data is available for Pro users. Sign up to see all 14 LambdaTest investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialLambdaTest Competitors
LambdaTest competitors include listed companies like Ricksoft Co and CS Disco, and private ones like Cortex, Crowdbotics, Atera and DeepJudge.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $470M | - | ||
| Private | - | - | $175M | - | ||
| Publicly listed | $70M | $3M | $21M | - | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $300M | - | ||
| Publicly listed | $157M | ($44M) | $273M | 1.0x |
LambdaTest Public Comps
LambdaTest is still privately-owned, but its public comps include Insyde Software, CS Disco, Shandong Cvicse, Hanwang Technology Co, RWS Holdings, Hibino, Suresofttech, Intercede Group, Duiba Group and Xp Industrial FII.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $53M | $14M | 5.3x | 5.2x | 19.6x | 19.5x | |||
| $157M | ($44M) | 1.1x | 1.0x | (4.0x) | (22.1x) | |||
| $22M | ($2M) | 8.0x | - | (112.8x) | - | |||
| $282M | ($14M) | 2.2x | - | (44.4x) | - | |||
| $927M | ($26M) | 0.7x | 0.7x | (27.2x) | 4.8x | |||
| $435M | $60M | 0.6x | 0.6x | 4.3x | - | |||
| $68M | $10M | 2.3x | - | 16.3x | - | |||
| $23M | $5M | 3.3x | 3.0x | 15.0x | 12.7x | |||
This data is available for Pro users. Sign up to see all LambdaTest competitors and their valuation data. Start Free Trial | ||||||||
Common questions about LambdaTest
| When was LambdaTest founded? | LambdaTest was founded in 2017. |
| Where is LambdaTest headquartered? | LambdaTest is headquartered in San Francisco, CA, United States. |
| Is LambdaTest publicly listed? | No, LambdaTest is a private, VC-backed company. |
| What is LambdaTest's valuation? | LambdaTest was last valued at $400M in its Series D in December 2024. |
| How much funding has LambdaTest raised? | LambdaTest has raised $108M across 6 funding rounds. |
| What was LambdaTest's last funding round? | LambdaTest's last funding round was a $38M Series D in December 2024, led by Avataar Venture Partners. |
| Who are LambdaTest's investors? | LambdaTest's investors include Blume Ventures, Leo Capital Holdings, Peak XV Partners, Titanium Ventures, Ramakant Sharma, Qualcomm Ventures, Gokul Rajaram, Leo Capital, Premji Invest, Wamda Capital and 4 others. |
| What is LambdaTest's revenue? | LambdaTest's latest recorded revenue is $19M (December 2024). |
| What is LambdaTest's revenue multiple? | LambdaTest's latest valuation implies a 21.1x revenue multiple ($400M valuation on $19M of revenue). |
| Which companies are comparable to LambdaTest? | Companies comparable to LambdaTest include Cortex, Crowdbotics, Ricksoft Co, Atera, DeepJudge and CS Disco. |
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