Instabug secures $46 million in funding to tackle mobile app issues beyond bug fixes

Instabug, a startup that aims to help mobile developers monitor, identify, and fix bugs within apps, has raised $46 million in a Series B funding round led by Insight Partners. The raise comes just over two years after the startup raised $5 million in a Series A round led by Accel, which doubled down on its investment in the latest financing. New backers Forgepoint Capital and Endeavor also put money in the round.

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A Record Year for Instabug

The company declined to reveal its current valuation. The new capital brings its total equity raised to date to $54 million. A lot has changed for Instabug, which has dual headquarters in Cairo, Egypt, and San Francisco, since its last raise. For one, the company expanded its focus from bug and crash reporting to building out application performance monitoring software "to capture everything around mobile performance."

From Bug Reporting to Performance Monitoring

The company was founded in 2013, first released its offering in beta in 2015, and publicly launched in February 2016 during its time at Y Combinator. Its recent decision to expand into monitoring was driven by the fact that consumers have higher expectations from the apps they’re using, and companies need to be more proactive to prevent bugs from occurring in the first place.

A Focus on Mobile-Exclusive Capabilities

According to Ganesh Bell, managing director at Insight Partners, Instabug’s focus on mobile platforms exclusively gives it the best mobile-specific capabilities and comprehensive mobile platform and framework coverage. "Instabug is flexible enough to deploy on a single app or for testing in a development environment but can immediately scale to monitor even the largest global enterprises’ app portfolios," Bell said.

Investing in Growth

While Instabug was profitable at one time, it is not currently so (as it has been doubling down and investing more on growth), according to Ganesh Bell. The company plans to use its new funding toward more hiring and investing in product development. Presently, it has 190 employees, with a predominantly Cairo-based engineering team.

What’s Next for Instabug?

With the latest funding round, Instabug is poised to continue its growth trajectory. As mobile apps become increasingly complex, developers need tools like Instabug to help them monitor and fix bugs efficiently. With its focus on performance monitoring and exclusive mobile capabilities, Instabug is well-positioned to meet this growing demand.

About Instabug

Instabug is a mobile-first performance monitoring and bug reporting platform that helps developers identify and resolve issues quickly. Founded in 2013, the company has grown to become one of the leading players in the mobile app development space.