Indian SaaS startup Chargebee earned unicorn status after raising US$ 125M in a Series G funding round on 20 April 2021. It became India’s 11th unicorn and Tiger Global’s 7th in 2021 itself. Chargebee’s valuation has risen to US$ 1.4 billion, a 3x increase since its Series F round six months ago.
This year Indian startups have been raising large amounts of capital at a much more frequent pace and at increased valuations. Chargebee is the seventh Indian startup to turn a unicorn this month.
Investors: The funding round was led by Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners. Chargebee has raised US$ 230 million to date.
Purpose of the funding: The funds raised will be utilized to expand Chargebee’s suite of products and work on new capabilities to help enterprises in even more ways.
About Chargebee
Founded in 2011 by KP Saravanan, Krish Subramanian, Rajaraman Santhanam and Thiyagarajan Thiyagu, Chargebee offers a subscription and recurring billing system for subscription-based SaaS and eCommerce businesses. Chargebee helps individuals, small and medium-sized businesses and enterprises set up, manage and automate subscriptions, billing, invoicing and payments. It aims to deliver the best experience to provide an effective and flexible recurring billing experience to customers and manage customer subscriptions. Chargebee is a widely trusted billing partner for SaaS, Subscription eCommerce, and Membership Services globally.
The services offered by the startup are – Subscription Management, Billing Automation, Recurring Payments, Accounting and Taxes, Reporting and Analytics. Its solutions are categorized based on company roles, business size, strategy and Industry. Chargebee has headquarters in Chennai and San Francisco. It has not limited its offerings to just billing. Businesses can plug revenue leakage, increase customer loyalty, expand into new categories with the backend ready and experiment with pricing plans with the help of Chargebee.
What the CEO has to say: “The industry is going through a significant change with businesses digitally transforming themselves and moving to the SaaS model. And it’s this change that has made Chargebee so vital to thousands of companies today.” — Krish Subramanian, co-founder and chief executive of Chargebee.
What the investors have to say: “As the global shift to subscription-first models continues to grow in popularity, Chargebee has an incredibly bold vision for new products for multiple market segments. After years of knowing them, I’ve been most impressed by their thoughtfulness and execution in building Chargebee as the emerging category leader that is reinventing the broader space.” — Rajeev Dham, partner at Sapphire Ventures.
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