Egyptian startup Instabug, which allows users to offer feedback from within apps to report bugs and issues, has raised a US$5 million Series A funding round to help it expand and launch new products.
Launched in 2012, Instabug streamlines communication between quality assurance and developers. Its service allows for in-app conversations, powerful crash reporting, and advanced analytics, among other new features.
Already used by thousands of apps, and serving 2.2 billion devices worldwide, Instabug has seen a massive surge in usage. It has now raised a US$5 million Series A funding round to accelerate its plans and roll out a new line of products in the coming months.
The round is led by US-based VC firm Accel Partners, and also includes angel investors such as Cloudera co-founder Amr Awadallah and MoPub founder Jim Payne. Accel also led the US$1.7 million seed round raised by Instabug back in 2016, the same year it took part in the Silicon Valley-based Y Combinator accelerator.
“We’ve been working with Accel since 2016 and we’re very excited to continue our partnership. 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. Our fundraising conversations with Accel started after the outbreak,” said Instabug co-founder and chief executive officer (CEO) Omar Gabr.