UPDATE: Cairo-based startup Instabug, a Flat6Labs graduate, has been accepted into the first Google for Entrepreneurs program, which will bring eight startups to Silicon Valley to work for two weeks, GigaOm reports. Starting next week, Instabug and 7 other startups from around the world will join Blackbox Connect, an accelerator launched in 2011, to work in the "Blackbox Mansion" in Palo Alto, where they will learn how to pitch to investors and hone their products.

Since Moataz Soliman and Omar Gabr launched the beta version of bug reporting platform Instabug in June 2012, they have tested the platform with over 250 developers from 30 countries and won the MIT Enterprise Forum Arab Business Plan Competition.

In April, when the platform went live, we explained how it works: it allows users to easily instantly report bugs to the developer by merely shaking the phone and using a highlighter, paintbrush, and text to identify individual issues.

The SDK also gives developers accurate real-time statistics about the application’s feedback, allowing them to track the progress of individual problems. If developers prefer to use their own bug reporting software, Instabug is compatible with most other bug reporting platforms and lets users view the data through other platforms like Bugzilla.

The compiled data makes it easier for a developer to address issues by grouping similar problems together to make feedback less overwhelming.

Now, the duo launched Instabug in open public beta. “We’ve added a lot of features based on the feedback we received from users during that initial phase. We also redesigned the whole website and the software development kit (SDK) of the service,” says Soliman.

What's new is that developers can new customize Instabug’s interface to match the color scheme and branding of their app. Instabug monetizes by offering paid services for professional developers on top of their regular free services.

The premium option gives developers the ability to customize the service to give more specific readouts and in-app functionality, on top of 24-hour technical support. The cost of the paid service varies from developer to developer depending on their needs, generally reaching around US $200 per month.

“We are looking to break even by next fall when we will be able to offer some new features on the platform,” says Moataz, without revealing any specifics. He adds that the team next plans to continue adding new functionalities and expand the platform across the globe.

Check out the short video below to see how Instabug works: