It’s not usually you see a single enterprise capital agency investing $50 million in a Sequence A spherical. These often contain a a lot smaller quantity unfold throughout a wide range of traders, however Accel noticed one thing in BrowserStack, a cell and browser testing platform, that’s a bit too profitable to warrant the standard early-round startup label.
BrowserStack has constructed an enormous market with over 25,000 paying clients because it was based in 2011. It has bootstrapped its method into profitability by attracting greater than 1.6 million builders to their testing platform, based on info offered by the corporate. In reality, CEO and co-founder Ritesh Arora says so far the corporate has grown completely by phrase of mouth.
They inform an analogous story to the various testing platforms coming on-line in recent times. Corporations transferring to speedy growth cycles usually don’t have the time frames they as soon as did to carry out satisfactory testing. BrowserStack provides them fast entry to a broad set of on-line testing suites throughout browser and cell working system variations and kinds.
Many corporations spend huge bucks constructing their very own testing suites, however these require fixed updating and administration. The benefit of a system like BrowserStack is that they’re updating the platform for his or her clients and offering a solution to automate all kinds of testing throughout totally different environments.
“In-house is an enormous market. They’re nonetheless determining learn how to resolve the issue. Do they wish to outsource? We’re simply attempting to resolve the infrastructure drawback for testing,” Arora instructed TechCrunch.
Sweeney admits he’s been monitoring BrowserStack for a very long time, saying they remind him very a lot of Atlassian, one other firm that took goal on the developer instruments market and has seen tremendous success. That’s one of many causes they offered the whole funding. “After we see nice corporations, we wish to go all in. We love working with different companies too, but it surely made sense to work collectively,” Sweeney defined about their solo funding
He sees an organization with a robust monetary image and a mature market, not one thing you usually see in Sequence A. Often A spherical startups are nonetheless attempting to show their idea might actually have a market.
That makes this spherical, regardless that it has the A label, extra like a later stage funding the place the corporate has established the product-market match and is looking for a solution to scale that concept. Arora believes the time was proper to take enterprise capital to fund the corporate’s future progress.
They wish to transfer past solely counting on phrase of mouth advertising and marketing that has fueled the corporate’s progress and set up a extra conventional gross sales and advertising and marketing method that builds on the natural progress that received them so far.
The corporate, which has 125 workers unfold throughout three workplaces in San Francisco, Dublin and Mumbai, plans to double the variety of workers over the following yr. Prospects embrace a variety of big-name corporations from conventional giants like Microsoft, SAP, Google, Cisco and IBM to extra trendy corporations like Airbnb, Twitter and Spotify.
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