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Tuesday, August 3, 2021

Software testing firm BrowserStack joins unicorn club after $200 million funding round

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Cloud-based software testing platform BrowserStack said on Wednesday it raised $200 million in a funding round that valued the company at $4 billion, joining the unicorn club for startups.

The funding round was led by San Francisco-based technology investment firm BOND, which has backed companies like Airbnb Inc , DoorDash and Facebook Inc, and included venture capital firms Insight Partners and Accel.

Founded in 2011 by entrepreneurs Ritesh Arora and Nakul Aggarwal in Mumbai, Browserstack lets developers test their software, websites or mobile apps across various devices and browsers through the cloud instead of having to set up their own infrastructure.

The startup, which has been profitable since its inception, counts tech behemoths Alphabet Inc’s Google, Amazon.com Inc and Microsoft Corp among its customers.

The funds from the Series B round will be used for strategic acquisitions, expand product offerings and scale business, the company said.

BrowserStack in 2018 had raised $50 million in a Series A funding round from Accel for a minority equity position.

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