According to Techcrunch, Bugsnag has the backing of Benchmark in what sounds like a competitive deal. 'We had options,' says Bugsnag's cofounder CEO, James Smith. Earlier investor Matrix Partners also participated in the round.

Broadly speaking, says Benchmark's Eric Vishria, Bugsnag is operating in a world where software development has become critical to virtually every company on earth and, as a result, is creating two opportunities: one for people to write software and another for companies to help those software developers do their jobs better.

The latter isn't easy, says Vishria, who has joined Bugsnag's board and calls developers 'a tricky bunch' who 'don't react well to things being forced on them.' Indeed, Vishria says, when Benchmark saw Bugsnag's adoption numbers, and, importantly, developers paying for its software, the venture firm knew Bugsnag had 'clearly hit a nerve.'

Bugsnag - which offers several tiers of service, including everything from a $29-per-month, per-seat self-service plan, to undisclosed rates for enterprises with specific requirements - is not without competitors. Crittercism and Crashlytics are just two other options developers can choose.

Smith insists that Bugsnag has an edge over other products in a variety of ways, however, including that it's a full-stack error-monitoring package. What that means: it detects errors in web and mobile apps, as well as in every majoring programming language and framework, all of which make it easier to understand (and fix) a crash that happens in one part of the software stack but impacts another, seemingly disconnected part of the stack.

Bugsnag also helps its customers with their log-in data, grouping together errors that they're seeing, so companies know when, say, one million crashes are caused by the same line of code, or that a particular kind of crash happened just once last week but is now creating crashes 25 times an hour. 'We're trying to surface the most important problems without inundating [customers] with [unnecessary noise],' says Smith.

Bugsnag has also endeared itself to developers through basic work flow integration. Software teams are already using team chat, for example, so Bugsnag will post alerts to a team's chat room.