Bitrise Raises $60M to Simplify Mobile App Updates

Bitrise Secures $60 Million to Accelerate Mobile App Development

With the increasing global reliance on smartphones, the demand for efficient iOS and Android application development is continually growing. Bitrise is positioned as a key player in bridging the gap between this mobile demand and a company's capacity to deliver applications rapidly, while simultaneously managing inherent complexities.

Series C Funding Announcement

Bitrise, a mobile DevOps company, has announced the successful completion of a $60 million Series C funding round. This investment was spearheaded by Insight Partners, with contributions from existing investors including Partech, Open Ocean, Zobito, Fiedler Capital, and Y Combinator.

Company History and Growth

Founded in October 2014 by Barnabas Birmacher, Daniel Balla, and Viktor Benei, Bitrise operates as a remote-first organization. Previous funding rounds included a $3.2 million Series A in 2017 and a $20 million Series B in 2019.

The recent funding round was finalized within a matter of weeks, bringing the company’s total funding to approximately $100 million, as stated by CEO Birmacher to TechCrunch.

Following participation in Y Combinator’s Growth Program two years ago, the Budapest-headquartered company has experienced significant expansion. Its workforce has tripled, and new offices have been established in London, San Francisco, Boston, and Osaka.

The Evolving Mobile Landscape

“Mobile technology has advanced by two to three years in the past 12 months,” Birmacher explained. “Consequently, businesses must leverage mobile solutions to maintain competitiveness, but the process of mobile development is becoming increasingly intricate.”

Developers often find themselves burdened with operational tasks, hindering their ability to fully concentrate on creating innovative customer value, he added.

Bitrise's Platform and Value Proposition

Bitrise is focused on delivering a comprehensive platform for mobile development. This platform automates essential workflows, reduces release cycle times, and offers enhanced insight into the potential impact of new code on live applications before deployment.

This allows companies to prioritize the delivery of significant new releases to their customer base.

Current User Base and Future Plans

Currently, over 100,000 developers from more than 6,000 mobile organizations utilize the Bitrise platform. The company is experiencing year-over-year revenue doubling and intends to expand its team to 300 employees across engineering, product, sales, and growth departments.

The new capital will also facilitate product expansion, enabling developers to operate more effectively within the continuous integration and delivery framework and gain improved observability throughout the entire DevOps lifecycle.

Board Appointments

As a result of the investment, Josh Zelman, Vice President at Insight Partners, will join Bitrise’s board of directors. Matt Koran, also a Vice President at Insight, will serve as a board observer.

Insight Partners' Perspective

“Bitrise has been strategically preparing for the current state of the mobile market since its inception eight years ago,” Zelman stated. “Mobile has become a dominant channel for communication, entertainment, and commerce globally, and Bitrise has empowered enterprises to keep pace with mobile innovation at an accelerating rate. The company was specifically designed for mobile, establishing itself as a leader in the mobile DevOps sector.”