Australian bug tracker startup BugHerd has raised $1 million in Series A funding, part of which will be used to roll out a more robust and powerful version of its task management system called Stack.
BugHerd provides web developers and designers a way of managing website development issues quickly and easily. It is a graduate of Australian startup incubator Startmate and Silicon Valley-based 500 Startups.
It has over 50,000 users worldwide and 1000 new business customers joining every month. Some of the world’s largest digital agencies are among its users including JWT, DDB, Publicis and BBDO.
The bulk of the funding comes from Australia-based Tank Stream Ventures and Starfish Ventures, in conjunction with 500 Startups.
BugHerd co-founders Alan Downie and Matt Milosavljevic say the funds allow the company to accelerate its growth plans with a focus on delivering visual, client-focused tools for digital and creative agencies.
“There are plenty of bug trackers and project management tools out there, but they tend to put a focus solely on the development team, forgetting that there are other people involved in the project,” Downie says.
“This is a dilemma we can solve.
“As product development timelines shrink and design becomes mission-critical, regular feedback from stakeholders and clients using tools like BugHerd can make thousands of dollars difference to a project’s budget.”
Tank Stream Ventures investment manager Rui Rodrigues says BugHerd’s high growth was one of the attributes that made it an appealing investment.
“Software is present more than ever in today’s world and BugHerd has an ambitious vision to transform the way businesses develop online projects in a collaborative way,” he says.
“TSV has a strong focus on software-as-a-service businesses and we’re thrilled to be working with BugHerd team, who we believe have managed to build significant traction and are well placed to execute on that vision.”
Starfish Ventures investment director Anthony Glenning agreed that BugHerd’s high growth was attractive.
“Starfish is delighted with BugHerd’s growth to date,” he says.
“The expanded product offering envisioned is set to continue that high growth trajectory. Starfish is excited to participate again in helping BugHerd achieve its goals.”
This piece originally appeared at StartupSmart.
