Subscription management platform Chargebee valued at $3.5bn following $250m raise
Subscription management platform Chargebee has raised $250 million in an investment round co-led by Tiger Global and Sequoia Capital.
Chargebee CEO Krish Subramanian
Chargebee claims the latest funding round more than doubles its valuation to $3.5 billion in the nine months since its last $125 million round in April, which valued the firm at $1.4 billion.
This latest round also saw participation from existing investors Insight Partners, Sapphire and Steadview Capital. The firm’s total funding to date stands at $470 million.
Chargebee automates the entire revenue lifecycle for more than 4,000 subscription-based businesses, from early-stage start-ups to larger enterprises.
Chargebee CEO Krish Subramanian says: “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.”
The San Francisco-based fintech says more businesses than ever are becoming recurring revenue businesses, with the ‘subscription economy’ expected to be worth $1.5 trillion by 2025, according to financial services multinational UBS.
Chargebee says the cash from this latest round of funding will go towards developing new products, expanding into new markets and territories alongside its new offices and investments in Australia and India, and strategic corporate growth initiatives.
Subramanian says as subscription offerings continue to “rapidly evolve”, Chargebee remains committed to providing a platform to “power, capture and understand revenue” in real time.
In the last year, the platform has added support for one-time payments to meet local tax and e-voicing regulatory and compliance requirements, as well as enhanced reporting and analytics capabilities.
