Instabug recently announced a $5 million Series A round, led by American venture capital firm Accel. Reporting that since the COVID-19 outbreak, it has seen a massive surge in usage, which has grown 45% since January.
Instabug provides mobile developers with real-time insights throughout the app life cycle, with its bug and feedback reporting, secure crash reporting, and in-app surveys. All the more important these days, given so many people, are relying on apps during their pandemic lockdowns.
This year’s round of investment was led by Accel Partners with the inclusion of other angel investors. They include Amr Awadallah, co-founder of Cloudera. And Jim Payne, founder, and CEO of MoPub, both of whom have invested previously.
Reportedly, the investment round is designed to streamline the communication between QA and developers. Which is very relevant now since almost everyone is working remotely.
Instabug Instabug started with a simple means for testers and beta users to report bugs by shaking their device. later, it gained popularity quickly among developers. Over the years, Instabug has become a platform that provides mobile apps with contextual insights about how their apps are performing in their production environments.
Today, some 28 of the top 100 apps on the App Store use Instabug. The company has acquired several competitors including Crashlytics (by Google) and HockeyApp (by Microsoft).
Omar Gabr, co-founder and CEO of Instabug, said in a statement: “We’ve been working with Accel since 2016 and we’re very excited to continue our partnership. We grew 120% in revenues in the last 12 months, adding dozens of Enterprise customers. We’ve always been running a disciplined business, we’re almost profitable for some time now. This is what made our fundraising fast in the middle of all the current events. Our fundraising conversations with Accel started after the pandemic outbreak.”