Accel invests $50m in India’s BrowserStack
Accel Partners has invested $50 million in BrowserStack, an Indian IT company that supplies enterprise clients with internet and mobile software testing infrastructure.
The capital will be used for a staff expansion and a global marketing push that will focus on North America. The investment coincides with the opening of an office in San Francisco. It is the company’s first funding round.
Founded in 2011, BrowserStack helps software developers ensure their products are free of bugs and sufficiently functional by providing a platform that facilitates testing across thousands of real mobile devices, browsers and operating systems. Currently, many software companies are required to own and manage every combination of device and browser, or invest in scaling in-housing testing infrastructure in order to remain competitive.
“BrowserStack puts an emphasis on making developers' lives easier through its powerful and intuitive products,” Ryan Sweeney, a partner at Accel who will join the BrowserStack board, said in a statement. “The rapid growth of software development combined with shorter software release cycles has put an emphasis on efficient testing processes.”
BrowserStack claims to be profitable, with 25,000 customers including Microsoft, Twitter and MasterCard. Its technology is said to enable 60 million tests per month across 135 countries. Further global expansion plans will be supported by new COO Shailesh Rao, formerly of Google, who will be based in the new US office. Last year, the company established a presence in Ireland.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.