HELSINKI, Finland – April 17, 2013 – Bitbar, the creator behind the most popular cloud-based Android testing platform, announced that it has completed a $3 million (USD) financing round.
The round is led by Creathor Venture (Frankfurt, Germany), DFJ Esprit (London), Finnvera Venture Capital (Finland), and Qualcomm Incorporated, acting through its venture investment group, Qualcomm Ventures, with additional funding from TEKES (Finland) financing.
Bitbar will use the funding to expand its rapidly growing mobile developer tools beyond Android, iOS and HTML5 that are currently supported, as well as beyond just testing.
“We are witnessing the renaissance of the mobile developer,” says Marko Kaasila, CEO, Bitbar. “We have seen more than 40 percent month-to-month growth on new users and more than 50 percent growth in monthly revenues. This financing round will allow us to grow our platform even further and provide our customers with a fully integrated development, testing and deployment experience for all relevant mobile platforms.”
“Bitbar’s disruptive technology has the potential to revolutionize the entire mobile software development process,” says Marc Biel, Investment Manager at Creathor Venture. “The company has made excellent progress in a very short time and is very well positioned for the future.”
Bitbar offers high-performance mobile software development and testing solutions that are based on widely adopted open standards. Testdroid by Bitbar is the easiest to use automated cloud-based testing solution for mobile apps, testing applications on over 200 real devices in minutes, including smartphones, tablet computers, and even cameras.
“At DFJ Esprit we have a global outlook. World class teams are at the heart of every business we invest in. We are committed to backing the very best European talent right here at home to create businesses that can win in global markets. Bitbar’s customer traction in the Android developer market and the pace this market is developing is what made this investment stand out” said Scott Sage, principal, DFJ Esprit, a Pan European VC firm with more than $1 billion under management and whose recent investments include Datahug, Sport Pursuit and Lyst.
Bitbar’s top tier customer list includes companies from around the world, including Ancestry.com, BMW, Critical Path, eBay (US and UK), Evernote, Facebook, Flipboard, Google, LivingSocial, Lookout, PayPal, Pinterest, Saffron Digital, SoundCloud, Swiftkey, Tesco, The Weather Channel, Top Free Games and Wooga.
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