BrowserStack, the Leading Software Testing Platform, Closes $200 Million Series B Funding at a $4 Billion Valuation
BrowserStack today announced it has secured $200 million in Series B funding at a $4 billion valuation. The round was led by BOND, with participation from Insight Partners and existing investor Accel.
BrowserStack is the global category leader in software testing on the cloud, with 50,000+ customers and four million+ developer signups. The investment will support BrowserStack's strategic acquisitions, expansion of its product offerings, and continued scale and growth.
Developer-first brand and category leader
Companies today need to release software with speed and quality to remain competitive. To do this, companies have to adopt DevOps, test more, and test fast. However, for most companies, testing remains the key bottleneck in the DevOps cycle.
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. BrowserStack provides developers instant access to a cloud platform that allows them to comprehensively test their websites and mobile applications, replacing the need for teams to own and manage an in-house test infrastructure. This means development teams can focus on building quality software at speed rather than maintaining an in-house testing infrastructure that is complex to build and impossible to scale.
BrowserStack's platform is used by developers in over half of the Fortune 500. Its customers include leaders such as Google, Amazon, Microsoft, Twitter, Tesco, IKEA, Spotify, Expedia, and Trivago. As a developer-first brand, BrowserStack has focused on product-led growth and is profitable since its inception.
Acquisitions and new product offerings
The complexity of testing in the DevOps cycle is growing exponentially, with new classes of devices, such as Smart TVs and wearables, and new mobile devices and OS versions. Software teams also have to consider testing for new use cases such as accessibility, visual correctness, and security. BrowserStack constantly looks for ways to simplify for developers the ever-growing complexity of testing in the DevOps cycle.
"We are going to double-down on solving new developer problems in the space of DevOps testing," said Ritesh Arora, co-founder, and CEO of BrowserStack. "Our recent acquisition of Percy, a visual testing platform, was just the start. We will accelerate the rate at which we take new products to market through acquisitions and investment in our Product and Engineering teams. We want to achieve our vision of becoming the testing infrastructure for the internet."
Continued Scale and Momentum
In the last three years, BrowserStack has more than tripled its employee base to 750+ across seven countries and opened ten new data centers worldwide.
"Our global footprint of 15 data centers allows us to serve every developer from a location as close as possible to them," said Nakul Aggarwal, co-founder, and CTO of BrowserStack. "This reduces latency, which saves developers time, and helps them release fast. We will continue to invest in our platform to ensure every developer has an amazing experience."
"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," says Jay Simons, General Partner at BOND. "BrowserStack makes this simple and cost-effective, giving developers instant access to the widest range of browser and device configurations to test their applications. This product is an absolute boon for today's web and app developers."
BrowserStack is the world's leading software testing platform powering over two million tests every day across 15 global data centers. We help Microsoft, Twitter, Barclays, Expedia, and over 50,000 customers deliver quality software at speed by moving testing to our Cloud. Our platform provides instant access to 2,000+ real mobile devices and browsers on a highly reliable cloud platform that effortlessly scales as testing needs grow. With BrowserStack, Dev and QA teams can move fast while delivering an amazing experience for every customer.
BOND is a global technology investment firm that supports visionary founders throughout their entire life cycle of innovation and growth. BOND's founding partners have backed industry pioneers such as Airbnb, Canva, Docusign, DoorDash, Facebook, Instacart, JD.com, Peloton, Plaid, Ring, Slack, Spotify, Square, Stripe, Twitter, Uber, and Waze.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow on Twitter @insightpartners.
Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Atlassian, Braintree, Cloudera, Crowdstrike, DJI, DocuSign, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Pillpack, Qualtrics, Slack, Spotify, Supercell, Tenable, UiPath, and Venmo are among the companies Accel has backed over the past 35+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Blackstone and Hudson Pacific Properties Announce Plans for New World-Class Film and TV Studios in the UK2.8.2021 09:00:00 CEST | Press release
Blackstone (NYSE: BX) and Hudson Pacific Properties (NYSE: HPP) plan to create a major new centre for film, TV and digital production in Broxbourne, Hertfordshire. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210802005278/en/ Artist Impression No. 1 (Photo: Business Wire) Funds managed by Blackstone Real Estate Partners and Hudson Pacific Properties acquired a 91-acre site, 17 miles north of central London, through a joint venture for £120 million. The acquisition, with an expected total investment of over £700 million, will be the partners’ first expansion of their Sunset Studios platform outside of the US. The proposed development, which is subject to planning permission, would transform the site into one of the largest world-class film and television studio campuses. The project is expected to create over 4,500 permanent jobs for Broxbourne and the surrounding community and contribute more than £300 million annually int
Leicester’s Hospitals Awards Deenova a Unit Dose Pharmacy Automation 15 Year Contract2.8.2021 08:00:00 CEST | Press release
Deenova reported today it signed its first ever contract in the United Kingdom, and established operations in Europe’s second largest GDP health care market, with the NHS being the eight largest employer in the world. Deenova was selected by University Hospitals of Leicester NHS Trust as the best solution amongst 8 of Deenova's competitors in United Kingdom and the United States of America. Claire Ellwood, chief pharmacist at University Hospitals of Leicester NHS Trust, said: “We’re proud to be working with Deenova to deploy the first unit dose closed loop medicines management system in the UK. Every year, we administer millions of medication doses so it’s vital our processes are as safe and efficient as possible. The partnership with Deenova will increase automation within our medication processes helping to reduce errors and wastage as well as freeing up staff time for other care and tasks. After a successful pilot, we are pleased to start planning the roll out across our three hospi
AMICOGEN Inc. and Lysando AG Bring Partnership to the Next Level With Ownership Participations in Each Other’s Companies2.8.2021 08:00:00 CEST | Press release
South Korean KOSDAQ listed AMICOGEN Inc. will become the latest shareholder in Lysando AG. The transaction includes an acquisition of shares, a cash contribution to Lysando and a share package to Lysando into AMICOGEN. The deal means an 8% participation of AMICOGEN into Lysando and 2.69% in shares for Lysando into AMICOGEN. The transactions were negotiated with a 300 Mio. Euro evaluation of Lysando. Other shareholders of Lysando continue to be majority owner and Chairman of the Board Markus Graf Matuschka von Greiffenclau, Bangkok based SCG, and Lysando’s employees. The companies have already a productive partnership in place, based on Lysando´s leading platform Artilysin®. It is a globally patented, sustainable and highly effective technology, fighting resistance of microbes, as an alternative to antibiotics and other antimicrobial treatments. „I am very happy and proud to welcome AMICOGEN as a new shareholder of Lysando. AMICOGEN being such a strong and successfully operating CDMO, A
Ipsen and Exicure Enter Into Exclusive Collaboration Targeting Rare Neurodegenerative Disorders2.8.2021 07:00:00 CEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210801005028/en/ Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) and Exicure Inc. (NASDAQ: XCUR) have signed an exclusive collaboration agreement to research, develop, and commercialize novel Spherical Nucleic Acids (SNAs) as potential investigational treatments for Huntington’s disease and Angelman syndrome. Oligonucleotides are synthetic structures of nucleic acids that can be used to modulate gene expression via a range of processes, including gene activation, inhibition, and splice-modulation. These molecules have demonstrated potential in many different therapeutic areas.1 Achieving efficient oligonucleotide delivery to target organs and tissues, including the brain, remains a major limitation to their use.1,2 Exicure’s SNAs provide distinct chemical and biochemical properties to oligonucleotides. I
Arqit Releases QuantumCloud™ to Deliver Stronger, Simpler Encryption2.8.2021 06:20:00 CEST | Press release
Arqit Limited (“Arqit”), a leader in quantum encryption technology announces the release of the first version of its service, QuantumCloud™ 1.0. This Platform‑as‑a‑Service software enables customers to secure the communications channels and data of any cloud, edge or end-point device. The service combines transformational and unique advances in both quantum and classical cryptography. The release of QuantumCloud™ 1.0 allows customers to secure devices globally by providing a strong device authentication capability, over which is layered the agreement of symmetric keys between authenticated and authorised devices. Importantly, since there are no asymmetric cryptographic primitives used within the trustless key agreement protocol, the keys can be regarded as safe against future attack using Shor’s algorithm running on a quantum computer. A range of other features will be added in future quarters, culminating in the launch of Arqit’s proprietary quantum satellites, which is targeted for 2
Arqit Registration Statement Related to Business Combination With Centricus Acquisition Corp. Declared Effective By SEC2.8.2021 06:04:00 CEST | Press release
Arqit Limited (“Arqit”), a leader in quantum encryption technology today announced the Registration Statement on Form F-4 in connection with the previously announced business combination (the “Business Combination”) with Centricus Acquisition Corp. (“Centricus”) (Nasdaq: CENHU, CENH, CENHUW), a publicly-listed special purpose acquisition company, has been declared effective by the Securities and Exchange Commission (the “SEC”). Upon closing, the ordinary shares and warrants of Arqit Quantum Inc., a company formed for purposes of completing the Business Combination, will be listed on NASDAQ under the new ticker symbols “ARQQ” and “ARQQW.” The boards of directors of Arqit and Centricus have unanimously approved the Business Combination, and Centricus has set 9:00 a.m. ET on August 31, 2021 as the time and date for an extraordinary general meeting of shareholders to approve the proposals associated with the Business Combination. The proxy statement/prospectus contains important informatio
Takeda Receives Decision by the Irish Tax Appeals Commission Relating to Tax Assessment on Break Fee Shire Received from AbbVie2.8.2021 01:30:00 CEST | Press release
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the receipt of a decision by the Irish Tax Appeals Commission on July 30, 2021 (IST) to uphold the Irish Revenue Commissioners’ position related to the treatment of a break fee received by Shire plc (“Shire”) in October 2014 from AbbVie Inc. (“AbbVie”). Shire was acquired by Takeda in January 2019. Takeda intends to challenge this outcome through all available legal means including appealing the decision to the Irish courts. On November 28, 2018, Shire received a tax assessment from the Irish Revenue Commissioners for 398 million EUR. This assessment sought to tax a 1,635 million USD break fee Shire received from AbbVie in connection with the terminated offer to acquire Shire made by AbbVie in 2014. Takeda appealed this assessment, and in late 2020 a hearing took place before the Irish Tax Appeals Commission. While Takeda is continuing to assess the substance of the decision, the company will record a