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Instabug raises $46 million Series B round

Wamda

Press release:

Instabug, the leading mobile monitoring, crash and bug reporting solution for mobile teams, today announced $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 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. With the new funding, Instabug will continue to aggressively execute 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. 

“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,” said Omar Gabr, CEO and co-founder of Instabug. “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.”  

“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.”

May 17th 2022, 12:46 pm
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