Mobile monitoring startup Instabug has raised $46 million in a series-B round led by the New York-based private equity Insight Partners with participation from Accel, Forgepoint Capital and Endeavor.
In 2013, Instabug was founded in Cairo by Omar Gabr and Moataz Soliman, after they realized that the market lacked an easy way to monitor the performance of mobile applications and to assess the user experience. The company, currently headquartered in both San Francisco and Cairo, offers crash and bug reporting solutions for mobile developers.
Instabug monitored more than 2.7 billion mobile devices in 2021, and processed110 billion mobile sessions. The company’s customer base includes market leaders such as DoorDash, Verizon, IHG, AB InBev, Porsche, Qualtrics and Gojek, according to a company statement.
“Leaders in industries spanning banking, transportation, retail, and education have realized mobile applications are the primary way customers will experience their brands and products,” Instabug’s CEO Gabr, said. “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,” he added.
(Writing by Noha El Hennawy; editing by Seban Scaria)