BugHerd Raises $1M to Revolutionise Project Management
25 AUGUST 2014 - BugHerd, the world’s simplest bug tracker for web developers and designers, has closed $1 million in Series A funding from Australian-based Tank Stream Ventures and Starfish Ventures, in conjunction with US-based 500 startups.
With over 50,000 users worldwide and 1000 new business customers joining every month, BugHerd is helping some of the world’s largest digital agencies including JWT, DDB, Publicis and BBDO deliver projects for globally-recognised brands such as McDonalds, Ford, AT&T and Renault. BugHerd is fast becoming the de facto standard for client feedback on web projects.
BugHerd will use the funding to make it even easier for customers to manage projects and people with a new product called Stack (http://www.getstack.io/), which is a more robust and powerful version of the task management system behind BugHerd. It will support web, desktop and mobile applications.
BugHerd co-founders Alan Downie and Matt Milosavljevic said the funds would 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. This is a dilemma we can solve”, says Mr Downie, Bugherd’s CEO.
“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.”.
BugHerd secured the bulk of the funds from Australian based Tank Stream Ventures and Starfish Ventures, who believe BugHerd’s previous success and high growth leave it well-placed to capitalise on its vision.
"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,” said Tank Stream Ventures Investment Manager Rui Rodrigues.
“TSV has a strong focus on software-as-a-service businesses and we’re thrilled to be working with the 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 said “Starfish is delighted with Bugherd’s growth to date. 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.”
500 Startups founder Dave McClure said he was increasingly looking outside the US for promising investments. “Although Silicon Valley is still a Mecca for startups, most of the world's growth markets are outside the US. That's where we plan to invest,” he said.
With a fully customisable task board, BugHerd’s new product Stack provides end-to-end task and workflow management. Unlike other “generic” task board tools on the market, Stack is specifically designed for delivering software and digital projects. Whether you’re using the frameworks Scrum, Kanban or simple task management, Stack is flexible and sturdy enough for users to manage multiple complex projects with ease.
The powerful search capability, ease of use and clean visual appeal that customers find valuable in BugHerd has been kept firmly in mind with the development of Stack.
About BugHerd -- BugHerd was founded by Alan Downie and Matt Milosavljevic in 2011 as a means of managing website development issues quickly and easily. BugHerd’s revolutionary way of managing web projects saw it accepted into the inaugural batch of Australian startup incubator Startmate followed by a three month stint in Mountain View with 500 Startups.
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