Instabug, Egypt, and San Francisco headquartered startup has raised $5 million led by Accel to fix bugs in mobile apps with participation from Amr Awadallah, co-founder of Cloudera, and Jim Payne, founder, and CEO of MoPub.
Instabug has raised a total of about $8 million in funding since it was founded in 2014. The startup participated in Y Combinator’s winter batch in 2016, raising $120,000 at that time.
Instabug which was founded by Omar Gabr and Moataz Soliman aims to solve and quickly identify and fix bugs within mobile apps. The company launched its offering in beta in 2015 and publicly launched in February 2016 during its time at Y Combinator.
From the onset, Instabug started with a simple way for testers and beta users to report bugs by shaking their device. Over the years, it has evolved into a platform that provides developers with contextual insights about how their apps are performing in their production environments via bug and crash reporting, and in-app surveys.
Most of Instabug’s 90-person team, including engineers, is based in Cairo. The startup opened an office in San Francisco last year and is growing its team there.
Omar Gabr, Cofounder and CEO of Instabug said in a statement: “We’ve been working with Accel since 2016 and we’re very excited to continue our partnership.
“We grew 120% 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. Our fundraising conversations with Accel started after the pandemic outbreak.”
Instabug says that since the COVID-19 outbreak, it has seen a “massive surge”; in usage, which has grown by 45% since January. It’s also designed to streamline the communication between QA and Developers which is very relevant now since many are working remotely.
