BrowserStack Announces USD 125 Mn ESOP and Share Buyback Programme

Mumbai-headquartered software testing company BrowserStack has announced a USD 125 million employee stock ownership plan (ESOP) and share buyback programme to provide liquidity to employees and early investors.

Nearly half of the buyback amount will be distributed among about 500 employees, while the remaining portion will go to early backers, led primarily by Accel.

The buyback will be rolled out over the coming weeks and will allow employees to sell their vested stock options back to the company. With this latest programme, BrowserStack will have returned a cumulative USD 275 million to shareholders through three buyback initiatives so far.

According to data from Tracxn, co-founders Ritesh Arora and Nakul Aggarwal together hold around 78 percent of BrowserStack's equity. Accel owns close to 10 percent, while Bond Capital and Insight Partners hold about 1.3 percent and 0.6 percent, respectively. Roughly 10 percent of the company's equity is reserved for its employee stock option pool.

BrowserStack has funded the buyback entirely from its profits, rather than through secondary transactions backed by new or incoming investors.

Founded in 2011, the enterprise SaaS company remained bootstrapped until 2018, when it raised its first external funding of USD 50 million from Accel and a group of angel investors. That round valued the company at USD 500 million.

In mid-2021, BrowserStack raised USD 200 million in a funding round led by Bond Capital at a valuation of USD 4 billion. The round briefly made it the highest-valued Indian software-as-a-service startup, a position it later lost the same year after Postman raised capital at a higher valuation. The company formally entered the unicorn club in June 2021 following the Series B funding round.

The latest buyback coincides with BrowserStack's shift from being primarily a software testing infrastructure provider to an end-to-end testing platform. Over the past few years, the company has expanded its product portfolio from five offerings to 21.

It has also pursued inorganic growth to strengthen its capabilities, acquiring HTTP interception and debugging tool Requestly in May 2025 for an undisclosed amount, and Berlin-based bug detection and reporting platform Bird Eats Bug for USD 20 million in 2024.

BrowserStack expects to cross USD 300 million in revenue in calendar year 2026, marking double-digit growth over the previous year. The company is domiciled in Ireland and does not publicly disclose consolidated financials. However, its Indian entity reported standalone revenue of INR 771 crore in fiscal year 2025, representing a year-on-year increase of 13 percent. The bulk of BrowserStack's revenue continues to come from the United States and Ireland.

Founded in 2011, BrowserStack provides cloud-based software testing tools that allow developers and quality assurance teams to test websites and mobile applications across a wide range of devices, operating systems, and browsers. The company operates offices in Mumbai, San Francisco, New York, and Dublin, and runs multiple global data centres to support its customer base.