Times Bridge will help Stack Overflow to launch, scale and expand its reach in the country, the global investments and partnership arm of The Times of India Group said in a statement. The Times of India Group also publishes The Economic Times.
India accounts for the largest share of traffic to the site, which it says gets more than 100 million unique visitors each month.
Times Bridge has also participated in Stack Overflow’s $85 million Series E fundraising that was announced in July this year.
The round was led by GIC with participation from Silver Lake Waterman and existing investors Andreessen Horowitz, Index Ventures, Spark Capital, and Union Square Ventures.
“India is among our largest and most vibrant user markets but remains largely untapped in the context of our Teams SaaS product. We are thrilled to partner with Times Bridge and The Times Group, whose enterprise partnership experience, local know-how and reach across the Indian market will help us empower developers and technologists in every corner of the country to collaborate and innovate together,” said Stack Overflow chief executive Prashanth Chandrasekar.
With this partnership, the developer platform will be joining Times Bridge’s global portfolio of companies that includes Airbnb, Coursera, Headspace, Houzz, Smule, Uber and Wattpad, among others.
“We’re delighted to welcome Stack Overflow to our global portfolio of partners — and to partner with a company ready to approach the Indian market with energy and empathy, and unlock outsized global value along the way,” said Times Bridge chief executive Rishi Jaitly.
The partnership will focus on rolling out Stack Overflow for Teams across the country, which helps developers and technologists to work asynchronously to ship products faster, accelerate onboarding, improve customer experience and drive innovation.
In a statement, Times Bridge said it will also be Stack Overflow’s sales partner in India and will introduce the product to enterprises across a wide range of sectors, including IT/ITES, Consumer Tech, Telecom, BFSI, and Consultancies, among others.
Over 200,000 paid users across more than 5,000 teams in engineering, product management, data science and customer support functions currently use the platform. Some of its clients include Bloomberg, Box, Elastic, Expensify, Microsoft, and Zapier.
India has the second-largest base of developers in the world, making it an increasingly strong contender in the global SaaS market. According to a Bain & Company report, Indian-heritage SaaS sector is expected to grow to $18-20 billion in revenue by 2022.
While the country’s SaaS segment has typically catered to overseas customers and will continue to do so for the foreseeable future, the domestic market has begun to grow thanks to specific initiatives and innovative products targeted at both SMBs and enterprises which are quickly realising the need for digitisation.