Chargebee, a Chennai and San Francisco-based subscription management platform, has raised USD 250 million in the latest funding round co-led by Tiger Global and Sequoia Capital on 1 January 2021.
Investors: Tiger Global and Sequoia Capital co-led the latest funding round with participation from returning investors Sapphire, Insight Partners and Steadview Capital.
The Objectives behind the funding: The company plans to deploy the current proceeds towards product innovation and global expansion to support the billing and revenue needs of current and future subscription businesses, as well as strategic corporate growth initiatives.
About Chargebee
Founded in 2011 by Saravanan Ponnuswamy, Rajaraman Santhanam, Thiyagarajan T and Krishnamoorthy Subramanian, Chargebee is a subscription billing and revenue management platform that offers subscription management services. Its platform provides a payment gateway agnostic subscription billing service that complements gateways and powers the recurring revenue engines of B2B and B2C services across various industry verticals, allowing clients to avail multiple payment options and making billing easier. The company manages revenue operations of more than 4,000 subscription-based businesses ranging from early-stage startups to larger enterprises, including Calendly, Doodle, Freshworks and Pret a Manger.
The startup captures the entire revenue lifecycle from the first interaction to the closing of the books each month, enabling teams to make business growth decisions confidently. Chargebee recently expanded offerings to create a unified revenue management platform with strategic acquisitions of revenue recognition solution provider RevLock and churn deflection and retention platform Brightback. In the last year, the startup also included capabilities to optimize revenue growth with new payment methods and gateways, support for one-time payments to meet local tax and e-voicing regulatory and compliance requirements, strengthen reporting and analytics and updated integrations with ERPs (Netsuite and Microsoft Dynamics) and CRMs (Hubspot and Zoho) to support more complex sales motions.
What the Founder has to say:
“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 evolve rapidly, our focus remains on providing a flexible growth engine to power, capture and understand revenue, all in real-time,” said Krish Subramanian, CEO and Co-founder of Chargebee, in the statement.
What the Investor has to say:
“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,” said Tejeshwi Sharma, MD, Sequoia India.
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