As a software developer, how will you check whether your software/app is compatible on all platforms including operating systems, browsers, servers, and many others? You can’t own all platforms to check the functionality of your product. So, what is the solution for software testing?
BrowserStack brings you a unique cloud-based platform to check the operations of your developed product on plenty of existing platforms. It is an Indian startup that is the leader in the software testing category. Recently, the firm has become the most valued Indian SaaS company with a valuation of $4 billion.
In this article, let’s go through the decade-old journey of BrowserStack:
Beginning and Expansion of BrowserStack
In its initial journey of seven years, BrowserStack remained bootstrapped but reached a revenue of $20 million. As per the startup claim, it is one of those unique firms that is profitable from the beginning.
Talking about its initial journey, Ritesh Arora, co-founder of BrowserStack said:
“We were profitable from the start and didn’t need funding. However, once the business got to scale, Nakul and I thought of adding someone who could help us grow faster and help us in bringing more structure and maturity.”
The startup was co-founded by Ritesh Arora and Nakul Aggarwal in 2011. BrowserStack is Mumbai based startup. It has also opened its offices globally including Dublin, San Francisco, and New York. Currently, the firm has over 800+ employees. The management team wants to make it double incoming one and half years. The startup also expects to grow developers’ sign up to one million in the coming two years.
Talking about the past growth and plans, Ritesh said:
“We have seen strong product-led growth, which has helped drive word-of-mouth in the developer community. We have also seen growth from new product lines, including two app testing products and visual testing with our acquisition of Percy.”
The startup is also providing buyback opportunities to its employees for fundraising. Talking about that, Ritesh said:
“We strongly believe in rewarding our employees for their key role in building and scaling BrowserStack. ESOPs are a great way to allow our employees to build wealth.”
BrowserStack is the leader in cloud-based software testing. The startup has 50k+ customers. Over 4+ million software developers use its cloud-based platform for the final testing of their products. As per startup claims, it is helping the software community by performing over 2 million tests across its 15 global data centers every day.
Financial Growth of BrowserStack
In a recent Series B financing round, SaaS-based BrowserStack has hit the jackpot with a funding raise of $200 million. After the current funding round, BrowserStack not only became the fifteenth Indian unicorn of 2021, but it also achieved the most valued Indian SaaS firm status at a valuation of $4 billion.
After Chargebee, BrowserStack is the second Indian unicorn from the SaaS category in 2021. Chargebee joined the unicorn club in April 2021.
BOND led the current funding round with participation from Insight Partners and existing investor Accel. BrowserStack also raised $50 million from Accel in Series A round in 2018.
In 2018, the SaaS startup was valued at around $500-$600 million, as per the Venture Intelligence report. In the last three years, BrowserStack recorded an 8X surge in its valuation.
The startup wants to invest current funding in acquiring firms, expansion of product offerings, and global scaling. The startup plans to the “testing infrastructure for the internet”.
Talking about the current funding utilization and future goals, Ritesh Arora, Co-founder and CEO of BrowserStack, told YourStory:
“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.”
He further added:
“Our focus will always be to build products that solve deep problems for developers and help them build amazing experiences for their users.”
Talking about the current investment in BrowserStack, 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.”
He praised the startup a lot and further added:
“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.”
Jay not only an investor but he was formerly the President of Atlassian, the SaaS giant, and helped the firm to start its successful IPO.
Due to Jay’s experience with the SaaS firm, Ritesh is quite happy to welcome Jay on board. Talking about him, Ritesh said:
“During his 12 years at Atlassian, Jay pioneered a go-to-market model that expanded to hundreds of thousands of customers worldwide — from SMBs to the Global 1000 — and achieved ~$2 billion in annualized revenue.
He further added:
“Having him guide us on our journey is invaluable, and I look forward to working with him, and the partners from Insight and Accel as we continue our scale-up journey.”
Currently, BrowserStack has a presence in over 135 countries. Pandemic has helped the firm to think globally. The startup has also adopted work from a home culture very well. The company’s productivity increased due to the remote hiring. The startup may continue its remote working culture due to the current benefits it got.