Instabug Raises $46M Series B to Build the First Mobile Observability and Performance Monitoring Platform

by Omar Gabr, Instabug CEO and Co-Founder
May 17, 2022

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Today, I’m thrilled to announce that we have raised $46 million from Insight Partners, existing investor Accel, as well as new investors Forgepoint Capital and Endeavor Catalyst.

This incredible group of investors were eager to join us on our journey to develop a mobile observability and performance monitoring platform that gives developers and leading enterprises the visibility and insights they need to build tomorrow’s top mobile applications.

TechCrunch covered Instabug’s Series B announcement here.

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Mobile development teams have not had the insights and depth of visibility they need

Moataz, Instabug’s CTO and Co-Founder, and I started Instabug after our own run at building mobile applications. We quickly came to the realization that there was no easy way to monitor performance or avenues for understanding what the user experience was like.

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We saw a lot of emphasis placed on the performance of web-based and server-side applications, but very little on understanding mobile issues and performance, and their impact on user experience. Mobile teams were left waiting for app store reviews to come in, rather than given the visibility needed to proactively understand performance and user experience issues. One bad review translates into many more lost users, lost revenue and increased costs to acquire new users. We immediately understood that the costs of not having this visibility were very high for organizations and the mobile teams within them.

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This realization drove us to build a solution that treats mobile performance itself as a first-class citizen. And we couldn’t imagine the support we’d received from the mobile development community. From the moment we launched our first feature, the “shake to report a bug” capability, it was clear that mobile developers were very enthusiastic and eager for insights on what their users were experiencing.

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Over the past few years, and with the support and feedback from our users and customers, we have been building Instabug to address this visibility gap and empower mobile teams to go beyond reacting to fatal issues to proactively improving performance. The 25,000+ mobile teams who rely on Instabug today are clear proof of the progress we have made towards accomplishing that goal.

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The stakes are too high for mobile teams and enterprises to continue flying blind on mobile performance

Mobile applications and our interactions with them have been evolving for almost 15 years, but only in the past few have these interactions become the primary way we interface with brands and services all around us. Leaders in industries spanning banking, transportation, retail, and education have realized mobile applications are the dominant way customers will experience their brands and products.

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It's no longer enough for mobile teams and enterprises to rely on traditional server-side performance monitoring solutions. Today, mobile devices drive around 70% of digital traffic, we’re spending 4.1 hours on average daily using our phones, and mobile-first players are disrupting every industry. This puts pressure on organizations to innovate faster and to pull out all the stops in order to meet and exceed user expectations. The results are better resourced, yet more complex mobile teams, more frequent releases, and a strong need to understand and prioritize mobile performance insights.

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How digital innovators leverage Mobile Observability and Performance Monitoring

To lead in their industries, organizations need to innovate fast and deliver mobile experiences that impress and captivate users. Deep awareness of mobile experience and mobile performance within technical teams and within business teams is a must. Leading organizations understand this. They prioritize mobile teams, allowing them to influence and guide product development.

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Within these organizations, large teams with specialized units come together to release complex applications. Code ownership and the ability to prioritize and triage can become blockers for these teams and affect developer productivity and their ability to fix and release new features.

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In our journey over the past years, we at Instabug have expanded our solutions from pre-release or beta-focused to in-production capabilities. We’ve also expanded from providing developers with reactive solutions that focus on fatal issues to proactive monitoring and insights. Now, we are set to further expand on solutions for mobile teams at scale, focusing on addressing the challenges that arise in complex teams with fast-paced release cycles. We aim to achieve this by building the first mobile observability and performance monitoring platform, proactively detecting more mobile-specific issues impacting your users’ experience. We’ve built workflows to route these issues to the right person on the right team, and prioritizing potentially critical ones. Our end goal is to become the dashboard for app health, that every team can customize to their own usage to track the performance of a specific team, latest release, or overall app health.

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Our drive and our growth come from our customers

2021 was a record year for us. We reached more than 2.7 billion mobile devices and processed 110 billion mobile sessions and 4.2 billion issues. We also became strategic partners to enterprise leaders like DoorDash, Verizon, IHG, AB Inbev, Porsche, Qualtrics, Gojek and more.

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Instabug’s users stand at the core of this growth. We are extremely grateful for the feedback we receive on a daily basis, and the time and effort our users put into helping us make Instabug better every day.

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For each one of us at Instabug, success has always been and will always be dependent on our continued listening to and understanding of our users’ needs.