BrowserStack becomes Unicorn and Highest Valued Indian SaaS Startup at $4 Bn valuation in recent round

Browser Stack

BrowserStack, an Indian SaaS startup announced that it has raised $200 million in its Series B funding round which was led by BOND, and other participants were Insight Partners and existing investor Accel, which had earlier invested $50 million in their Series A funding round in 2018.

At a valuation of $4 billion, BrowserStack is now India’s 15th unicorn of the year 2021. It also becomes the year’s second SaaS unicorn after Chargebee, which reached the same milestone in April. In addition, it acquired the title of Highest Valued Indian SaaS Startup.

These new funds will be used to expand product offerings for developers, make strategic acquisitions, and cover more parts of the globe to fulfil its vision to become the internet’s testing infrastructure.

BrowserStack was founded by Nakul Aggarwal and Ritesh Arora in 2011. It has been leading software testing on the cloud and has over 50,000 customers and 4 million developer signups. It caters to companies such as Microsoft, Barclays, Twitter, Expedia and powers over two million tests across its 15 global data centres every day.

BrowserStack was valued at $500-600 million during its first funding round. Its valuation has increased by 8X in three years, just like the meteoric growth of India’s SaaS sector.

Ritesh Arora, Co-founder and CEO of BrowserStack, said, “We aim to be the testing infrastructure for the internet. This requires launching new products to solve deep problems for developers in the testing space. The new funds shall help us in different ways through which we can bring new products to market. We will always focus on building products which solve deep problems for developers and help them build amazing experiences for their users.”

Ritesh says, “Growing because of our product has helped the word-of-mouth in the developer community. We also grew from new product lines, like two app testing products and visual testing with our acquisition of Percy.”

Having its headquarters in Mumbai, BrowserStack also has offices in Dublin, San Francisco, and New York, and plans to double its team members to 1,600 in the coming 18 months. Currently, about 300,000 active developers are using BrowserStack products today, which is expected to grow to over a million in the next one to two years.

“The pandemic has forced everyone to adapt to work-from-home and remote working options. Because of this many companies are looking for cloud solutions to replace their on-premise infrastructure. They are going through rapid digital adaptation and are moving their important key systems, tools and processes to the cloud. Because of this, we’ve seen an increase in our manual testing products.”
Currently, BrowserStack has its customer base in 135 countries and is looking to expand more. “We focus on building our customer base globally, not getting restricted to any particular geographic location,” he adds.

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