Company & Team Introduction

Jam’s product makes reporting software bugs to your team as easy as one click, allowing users to save a recording of the prior 30 seconds when a bug occurs, giving engineering teams everything they need to fix bugs in a fraction of the time. The company was founded in 2020 by the duo of Dani Grant (CEO) and Mohd Irtefa. The idea for Jam came to the pair after working together as early product managers at Cloudflare, where they quickly learned how hard it is to communicate software bugs to engineers accurately. Jam is headquartered in San Francisco, California, and has grown its headcount to 15 employees. Grant aspires to keep their team tight and lean, with a small group of talented engineers serving a massive customer base, similar to Instagram’s team of 20 when they had over a million users on the platform.

Product Overview

One of the best parts about Jam’s product is its simplicity. Jam offers a browser extension that allows anyone to create detailed bug reports in just one click. The magic feature of Jam is when a bug occurs, simply click the Jam extension, and it will automatically save a screen recording of the prior 30 seconds capturing when the bug occurred, along with all the relevant developer logs to correctly fix the bug (console logs, device information, network requests, etc.). Users can also easily take screenshots or recordings, and Jam will share them instantly with the rest of their team. Before Jam, bug tracking was an absolute mess of trying to replicate the bug to show engineers, ambiguous human explanations of what happened, usually lacking critical details about the problem. Jam claims its product can reduce the time to fix bugs by 80% and easily integrates with your existing issue-tracking tech stack like Jira, Asana, Github, Sentry, and Slack.

Total Addressable Market

The market opportunity for Jam is vast and growing. The total addressable market for bug-tracking software was worth over 218M in 2018, with growth projections that the industry opportunity could balloon to upwards of 600M annually by 2026, resulting in a 13.6% CAGR. Couple this with Jam’s differentiated product offering; growth for the company should be abundant over the coming years.

Business Model & The Numbers

Jam utilizes a straightforward 3-tier freemium SaaS pricing model. For teams of less than 10, Jam is free to use forever. Any teams with over 10 employees must upgrade to their “Team” plan, which is charged at $10/user/month, with added features such as a team workspace and shared permissions. If a team has over 50 employees, they must use the Enterprise plan, which can be utilized by teams of any size and offers additional features such as advanced privacy controls and custom app integrations.

Traction

Jam has undergone rapid growth since its founding and is entering 2024 with solid product momentum. There are already 75,000 Jam users spanning 150 different countries, creating over 200k Jams each month, and that number is rapidly rising. Since the platform launched, over a million Jams have been created. Jam’s product has already been adopted by some of the largest software companies in the world, such as Salesforce, Ramp, UiPath, and AutoDesk.

Competitors

The bug-tracking software market is fierce, with competition from multi-billion dollar DevOps companies like Atlassian, Asana, and ClickUp. Luckily for Jam, their product is meant to integrate with the existing bug-tracking workflow tools to complement them and improve efficiency rather than replace them. Direct competition to Jam is weak due to its novel approach, but competition like Requestly.io has appeared.

Requestly - Founded in 2021 by Sachin Jain (ex-Google, Adobe) and Sagar Soni (ex-AWS), Requestly offers an open-source alternative to Jam; they call it “session replay”; both products offer similar features, including session replay, console logs, network requests, etc. With the many similarities between the 2 products, design and user experience will be vital factors in who will become the market leader in the space. Requestly also offers other products, including mock servers, API clients, and the ability to set up HTTP rules. The company has over 200k developers using their products across 10k teams. They’ve raised 3 rounds of funding, including a 125k accelerator check from Y Combinator, an undisclosed seed round in 2022, and another accelerator investment in 2023 led by Singaporean-based Surge. Requestly is headquartered in New Delhi, India and has grown its team to ~18 employees.

Funding

Jam has raised two funding rounds since being founded in 2020. The company initially raised a 3.5M seed round in 2020 led by Union Square Ventures with participation from firms such as Boxgroup, Version One Ventures, and Village Global alongside prominent angel investors like Matthew Prince (CEO of Cloudflare), Sahil Lavingia (Founder & CEO of Gumroad), Jason Warner (CTO of Github), and Josh Elman (VP Product at Robinhood). After strong growth over the past year, the company announced just yesterday, February 6th, that it raised a 9.8M Series A round from an impressive group of investors, including GGV Capital leading the round and participation from Figma Ventures. In addition to institutional capital, the company added a laundry list of Silicon Valley elites to their cap table: Amanda Kleha (COO of Figma), Guillermo Raunch (CEO of Vercel), and Sahil Dosi (Founder of Mixpanel).