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Crashlytics adds $5 million in funding, reveals early beta customers

Posted by Scott Kirsner  April 10, 2012 01:12 PM

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Investors are betting that as mobile apps continue to proliferate, software developers will need better tools for figuring out why they crash and eradicating bugs. A Cambridge start-up, Crashlytics, does just that, and the company is announcing $5 million in new funding today; Crashlytics raised its first million bucks just last October.

crashcofounders.jpg"I started the company because I had the problem," says co-founder Jeff Seibert. "There weren't any good tools for gathering information about why crashes were happening." (Seibert is pictured at right, with co-founder Wayne Chang.) He tells me Crashlytics' software code is now incorporated in more than 1000 iPhone and iPad apps, including apps from Yammer, Path, Kibits, Hipstamatic, Delta Air Lines, and Domino's Pizza. The Crashlytics code works only with Apple's iOS operating system, and Seibert wouldn't comment on a timeline for supporting Android or other operating systems.

The new funding round is led by Flybridge Capital Partners of Boston. It also includes Baseline Ventures, which had a very big payday yesterday with Facebook's $1 billion acquisition of Instagram, a Baseline-backed startup.

David Aronoff of Flybridge says that after last fall's seed round, "Jeff and Wayne built their product better and faster than we had even hoped for," and that "customer adoption went viral and shattered the end goals for the seed within the first month of private beta."

"This is money for the next two years," Seibert says. "It lets us ramp up the team quite a bit, and the goal is to get the product to profitability." Right now, Crashlytics is still running a private beta test, and hasn't yet started charging customers.

Seibert says the company will primarily be adding engineers to its team, but may also hire a few marketing or public relations employees as well.

I profiled Crashyltics co-founder Wayne Chang last November.

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About Scott Kirsner

Scott Kirsner was part of the team that launched in 1995, and has been writing a column for the Globe since 2000. His work has also appeared in Wired, Fast Company, The New York Times, BusinessWeek, Newsweek, and Variety. Scott is also the author of the books "Fans, Friends & Followers" and "Inventing the Movies," was the editor of "The Convergence Guide: Life Sciences in New England," and was a contributor to "The Good City: Writers Explore 21st Century Boston." Scott also helps organize several local events on entrepreneurship, including the Nantucket Conference and Future Forward. Here's some background on how Scott decides what to cover, and how to pitch him a story idea.

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