Maxfield Capital investment in Qbaka

Share Article

Venture capital fund Maxfield Capital, founded by Alexander Turkot (prior was a head of Skolkovo IT Cluster, CEO of My Space (Russia) and Project Leader in various structures of IBM) announces it's seed financing of Qbaka startup, focused on tracking javascript errors on web services.

Qbaka was launched by Russian web developers in June 2012. The primary objective of the service is to help developers track client-side problems. Errors in interactive user interfaces often cause companies lose their customers and money. Qbaka provides automated monitoring and realtime analytics of errors, without any user interaction.

Company just need to add one block of code to it's web site and Qbaka starts tracking errors automatically and whenever user experience an error, all necessary data is collected and pushed to the cloud analytics engine. Developers get notified and visit Qbaka dashboard to see all the details needed to help them figure out the problem and fix it.

Today Qbaka is used by more than 1000 developers from 450 companies, including: large online stores, online dating services, social and entertainment websites, analytics and data storage tools, etc. According to internal statistics, about 20% of companies choose the plan with monthly subscription fee to track unlimited amount of errors.( Free plan allows to track up to 200 raw errors/day. )

Qbaka targets global market, with about 30% of existing customers registered from Russia. Paying customers include companies from USA, Canada, Switzerland, Germany, Poland, Denmark, Finland, Argentina, Czech, Israel, England, and lots of other around the world.

By the end of 2013 company will significantly extend it's Europe and U.S. markets by launching big online marketing campaign. Nearest Qbaka plans include – extending sales channels and partnerships, and introducing corporate solution for big companies in order to keep all data within a company's datacenter.

Alexander Turkot, managing partner of "Maxfield Capital" venture fund comments: "Our fund invests in early and seed stage projects, and the amount of investment varies from one hundred to several million dollars. Qbaka is typical example of seed stage company. Qbaka attracted our attention because it is a technology-focused project, which you do not see that often, and it is oriented to the global market. Despite the competition, key founders' background should help the team deal with all challenges of fast growth and extending the market of their business. At their stage company cannot grow without investment and valuable help with building great team and market strategy».

Qbaka won several industry awards, including:

  • First prize at Web Ready 2013 innovative startups contest, including special prize from «Skolkovo»;
  • San Francisco DeveloperWeek Conference 2013 award as Top JavaScript Innovator;
  • USA MassChallenge startup accelerator finalist

Andrey Mima, co-founder of Qbaka, web developer from Saint-Petersburg, Russia, who previously worked at Yandex and VKontakte said:
«Our service is growing fast, and to provide it a boost and make it even faster to reach break-even we need an investment to accelerate our development and marketing resources. We plan to extend our service to global market and partnership with Maxfield Capital is the first step on this path».

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Tatyana Golubovskaya

Andrey Mima
Visit website