San Francisco, CA (PRWEB) September 20, 2013
Bugsnag, the cloud-based crash monitoring platform for mobile and web apps, today announced that the company has secured $1.4 million in seed funding. The round was led by Matrix Partners and included participation from top cloud and SaaS angels, including Jason Seats, founder of Slicehost, and Andy McLoughlin, founder of Huddle.
Funding will be used to further Bugsnag's leadership in app monitoring and expand the company's engineering division to keep up with rising customer demand. As the only fully cross-platform application monitoring platform, Bugsnag is committed to investing in innovation around its core platform and expanding its mobile monitoring products.
"After developing apps in both enterprise and startup companies for more than ten years, I would say that app monitoring is a consistent problem across every vertical," said Simon Maynard, Bugsnag co-founder and CTO. "Developers fundamentally need accurate bug reports, so we built a platform to automate the process, capturing errors and notifying the development team instantly. Doing so facilitates the trend away from large scale QA to live monitoring of production apps, which is better suited to the agile development approach."
According to a recent Cambridge University study, 50% of software development time is spent finding and fixing bugs, and the wages-only cost of debugging is estimated to be over $150 billion. Bugsnag addresses the problem by giving developers the means to automatically detect crashes in web and mobile apps, collect diagnostic information and notify development teams of errors immediately over email, SMS or chat. Developers can then use Bugsnag's sophisticated dashboard to find exactly where and how each error happened. By immediately providing detailed error diagnostics, Bugsnag dramatically reduces resource drain and associated costs. This value is apparent as thousands of top technology companies already rely on Bugsnag to improve the reliability and quality of their applications.
"What excited us about Bugsnag is its unique cross-platform approach to the huge and growing problem of mobile and web application monitoring," said Dana Stalder, general partner at Matrix Partners who has joined Bugsnag's board of directors. "The company's traction is a testament to its value, going from a few initial customers to now more than 3,000 world-class organizations using the platform, all in very short order. Bugsnag delivers a much needed solution while addressing a massive market opportunity."
Please visit bugsnag.com to learn more.
Bugsnag Inc. was founded by James Smith and Simon Maynard, and launched its public beta in September 2012. Headquartered in San Francisco, Bugsnag provides software development teams with an automated crash detection platform for their mobile and web applications. To date, Bugsnag has processed over 1 billion application crashes from thousands of top technology companies, including LinkedIn and Path. For more information visit bugsnag.com or follow on Twitter at @bugsnag.
About Matrix Partners
Matrix Partners is a premier venture capital firm that has generated outstanding returns for more than three decades. By focusing on early-stage investments and emphasizing long-term relationships with entrepreneurs, the firm has delivered several of the industry's top performing funds of all time. Matrix Partners has offices in Cambridge and Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. Matrix Partners has invested in several game-changing, industry-leading businesses such as Apple Computer, Aruba, HubSpot, JBoss, Netezza, Phone.com, Polyvore, Starent Networks, Tivoli Systems, Veritas, Zendesk, and Zong. To learn more, please visit http://www.matrixpartners.com.