Thursday, June 30, 2022
Thursday, June 30, 2022
Home Startups Instabug Secures $46 M Series B Fund to build mobile observability and performance monitoring platform

Instabug Secures $46 M Series B Fund to build mobile observability and performance monitoring platform

by Milcah Lukhanyu
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Instabug, an Egyptian software company that provides bug reporting, app performance monitoring, crash reporting, in-app chats, and user surveys for mobile apps has secured $46 million in Series B funding led by global software investor Insight Partners with participation from existing investor Accel, as well as new investors Forgepoint Capital and Endeavor.

The new funding, will enable Instabug to continue to executing its mission of serving engineering teams with performance metrics and issue visibility, and product teams with customer insights and direct user feedback. By adding to its existing proactive issue detection, advanced debugging, and alert management capabilities, Instabug is building the first mobile observability and performance monitoring platform. 

Omar Gabr, CEO and co-founder of Instabug said, “Mobile applications and our interactions with them have been evolving for almost 15 years, but only in the past few have these interactions become the primary way we interface with brands and services all around us.Leaders in industries spanning banking, transportation, retail, and education have realised mobile applications are the primary way customers will experience their brands and products. This new  capital will help us develop more strategic partnerships with these enterprises as they increase  investment in a mobile-first approach to customer engagement.”  

The capital raise follows record growth in 2021, in which Instabug reached more than 2.7 billion mobile devices, processed 110 billion mobile sessions and 4.2 billion issues, and drove a substantial increase in year-over-year bookings adding enterprise leaders like DoorDash, Verizon, IHG, ABInveb, Porsche, Qualtrics,  Gojek and more to its customer base. 

Instabug’s widely adopted bug, crash reporting, and performance monitoring solutions are essential for mobile developers and organisations which place a high value on understanding the performance of their mobile apps and the user experiences they deliver.

“Today’s digital brands and services are increasingly demanding purpose-built mobile solutions that improve their products and experiences,” said Ganesh Bell, Managing Director at Insight  Partners. “Instabug is strongly positioned to lead the nascent mobile app observability and  monitoring space because the company has treated mobile as a first-class citizen since day  one, and its leadership has a deep understanding of the needs faced by mobile-focused/mobile-first organisations and developers.”

“We are now at the point where mobile developers and teams can’t rely on server-side performance monitoring alone to understand and improve their app experience,” said Moataz  Soliman, CTO, and co-founder of Instabug. “Mobile developers have not had access to the level of observability, performance, or user-level insights that web developers have historically had when developing and improving web-based applications. We strive to give mobile teams the  visibility they have been missing and are furthering our efforts to become the standard for client-side performance monitoring and management, relied on by developers and leading digital enterprises alike.

Instabug was founded in 2014.As of September 2019, Instabug had reached over 25,000 companies, 400 millions reported issues and feedbacks received, and 2 billion devices running their SDK worldwide.[2] Instabug’s software development kit (SDK) used by AndroidiOSCordovaIonicXamarin, and web developers during beta testing as well as in live production versions of their apps.

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