Chargebee Raises $250 Million, Valuation Rises To $3.5 Billion
Enterprise focussed subscription management platform Chargebee has raised $250 million in a new funding round co-led by Tiger Global and Sequoia Capital, with post-funding valuation rising to $3.5 billion. Existing investors like Sapphire, Insight Partners and Steadview Capital have also participated in this round.
The startup plans to use the raised capital for product development and global expansion to support the billing and revenue needs of current and future subscription businesses. Chargebee will also look at strategic corporate growth initiatives through the new capital it has raised.
Chargebee | A Recurring Billing And Subscription Management Tool
Founded by Krish Subramanian, Rajaraman Santhanam, Thiyagarajan Thiyagu, and Saravan KP, Chargebee is a recurring billing and subscription management tool that helps SaaS and SaaS-like businesses streamline Revenue Operations.
Speaking on the development, Krish Subramanian, Co-founder and CEO of Chargebee, said,
“We built Chargebee to solve infrastructure issues facing high-growth subscription businesses with a product roadmap laser-focused on replacing in-house systems orchestrating the complex parts of revenue intelligence like billing and payments. As subscription offerings continue to rapidly evolve, our focus remains on providing a flexible growth engine to power, capture and understand revenue, all in real-time.”
Chargebee integrates with the leading payment gateways like Stripe, Braintree, PayPal etc., around the world to let you automate recurring payment collection along with invoicing, taxes, accounting, email notifications, SaaS Metrics and customer management.
The platform handles all crucial workflows from lead to ledger with power-packed integrations that include Salesforce, Xero, Quickbooks, Avalara, Slack, among others.
Tejeshwi Sharma, MD, Sequoia Capital India, said,
“We believe every company will be a subscription company in the future. The predictability of a subscription business model is extremely attractive, and Chargebee is the leading revenue management partner for the subscription economy. Its platform offers customers a real-time 360-degree view into revenues and user behaviour and the intelligence they can use to quickly adapt and make better business decisions.”
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