Instabug secures $5 million Series A round
Instabug, the in-app feedback and bug reporting software company, has raised $5 million in a Series A round. The investment round was led by Accel Partners with participation of angel investors including Amr Awadallah, co-founder of Cloudera, and Jim Payne, founder and CEO of MoPub.
Founded in Egypt by Moataz Soliman and Omar Gabr in 2012, Instabug provides mobile developers with real-time contextual insights throughout the entire mobile app lifecycle, using its bug and feedback reporting, secure crash reporting and in-app surveys. The company relocated its headquarters to San Francisco in 2016 after graduating from the Y Combinator acceleration programme.
Instabug started with a simple means for testers and beta users to report bugs by shaking their device, it gained popularity quickly among developers. Over the years, Instabug became a platform that provides mobile apps with contextual insights about how their apps are performing in its production environments.
Since the Covid-19 outbreak, Instabug has seen a growth of 45 per cent since January, reflecting the surge in usage. It is designed to streamline the communication between QA and Developers which saw increased relevance in relation to self-isolation and social distancing measures.
Currently, thousands of apps are using Instabug including 28 of the top 100 apps on the App Store. The system is now serving 2.5 billion devices worldwide.
“We grew 120 per cent 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,” said Omar Gabr, co-founder and CEO at Instabug. “We’ve been working with Accel since 2016 and we’re very excited to continue our partnership.”
Instabug raised $1.7 million in its last funding round in 2016, which was also led by Accel Partner to expand beyond mobile app bug reporting. It was reporting across 300 million devices then.