The funds will be used for strategic acquisitions, new products, and continued scale and growth including talent acquisition, which will be doubled to over 1,500 over the next 18 months
Cloud-based software testing platform BrowserStack on Wednesday said it has raised USD 200 million (around Rs 1,466 crore) in funding, led by global technology investment firm BOND. The Series B round, which valued the company at USD 4 billion, also saw participation from private equity fund Insight Partners and existing investor Accel, according to a statement.
BrowserStack, which was founded in Mumbai in 2011 and later shifted to Irish capital Dublin, has over 50,000 customers and more than four million developer sign-ups. Its products help developers build bug-free software. The now Dublin-headquartered firm was co-founded by IIT-Bombay graduates Ritesh Arora (chief executive) and Nakul Aggarwal (chief technology officer) in 2011 in Mumbai.
The funds will be used for strategic acquisitions, new products, and continued scale and growth including talent acquisition, which will be doubled to over 1,500 over the next 18 months. BrowserStack powers over two million software tests every day across 15 global data centers. Its over 50,000 customers include Google, Amazon, Microsoft, Twitter, Tesco, Ikea, Spotify, Expedia, and Trivago.
Its platform provides instant access to over 2,000 real mobile devices and browsers on a highly reliable cloud platform that effortlessly scales as testing needs grow. ‘As software continues to rewire everything, the bar on speed and quality continues to rise, and testing software across the expanding number of browsers and devices is a huge and expensive challenge for development teams to manage on their own,’ Jay Simons, General Partner at BOND, said.
BOND is a global technology investment firm that supports founders throughout their entire life-cycle of innovation and growth. It has backed industry pioneers like Airbnb, Canva, Docusign, Doordash, Facebook, Instacart, JD.com, Peloton, Plaid, Ring, Slack, Spotify, Square, Stripe, Twitter, Uber, and Waze.
The privately held BrowserStack has offices in Dublin, San Francisco, New York, and Mumbai where a little over 1,000 employees are located. ‘We have made, and will continue to make significant investments into hiring the best engineers, who can innovate and solve complex problems for developers,’ Nakul Aggarwal, co-founder, and CTO of BrowserStack said.
BrowserStack is the global category leader in software testing on the cloud, with over 50,000 customers and over 4 million developer sign-ups. In the last three years, BrowserStack has more than tripled its employee base to over 750 across seven countries and opened 10 new data centers worldwide.
‘We will continue to scale rapidly across functions to accelerate the rate at which we take new products to market. This funding will allow us to explore the different ways in which we can bring new products to market — via acquisitions, acqui-hires, or by investing more heavily in our product and engineering teams,’ Ritesh Arora, co-founder and chief executive officer of BrowserStack, said.
BrowserStack’s products help developers build bug-free software for the 5 billion Internet users accessing websites and mobile applications through millions of combinations of digital environments — devices, browsers, operating systems, and versions.
Source: Business World