The Software as a Servive start-up BrowserStack was able to successfully secure a total of around $200 Million in its Series B funding round in the current year. This funding round has valued the company at $4 Billion, making it the 15th unicorn start-up in the country in the year 2021The start-up also became the second SaaS unicorn in the year 2021, after Chargebee- a subscription billing software, which achieved this milestone earlier in the month of April.
The series B funding round was led by BOND Capital, which is a global technology investment firm that supports potential visionary founders and their brands throughout their entire life cycle of innovation & growth. Participation by Insight Partners and a pre-existing investor Accel, from the Series A funding round in 2018 was also seen.
Along with BrowserStack, BOND has also invested in other Indian start-ups and companies like Byju’s and DoorDash.
While making a statement regarding the deal, Jay Simons, General Partner at BOND, said- “As software rewires 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. BrowserStack makes this simple and cost-effective, giving developers instant access to the widest range of browser and device configurations to test their applications. It is a boon for today’s developers.”
Founded in the year 2011, BrowserStack’s was valued between $400-$500 million after its first institutional funding round. In the following three years, the value of the company increased by 8 times.
BrowserStack plans to use these funds very strategically to acquire brands and expand its software and product offerings. This will help to fulfill its dream of becoming a “testing infrastructure for the internet”.
In a statement given to YourStory, news firm, Ritesh Arora, Co-founder, and CEO of BrowserStack said- “Our vision is to be the testing infrastructure for the internet. This means launching new products which solve deep problems for developers in the space of testing. This funding will allow us to explore the different ways in which we can bring new products to market — via acquisitions, acqui-hires, and by investing more heavily in our product and engineering teams. Our focus will always be to build products that solve deep problems for developers and help them build amazing experiences for their users.”
Today BrowserStack has customers and clients in over 135 countries across the globe. It also plans to expand its reach more.