- Chargebee, a software-as-a-service-based subscription management platform, has raised $250 million in a funding co-led by Tiger Global Management and Sequoia Capital at the valuation of $3.5 Billion.
- Existing investors including Insight Partners, Sapphire and Steadview Capital also participated in the funding round.
- Launched in 2011 in Chennai, Chargebee is a subscription management and a recurring billing platform that helps SaaS (software-as-a-service) and SaaS-like businesses streamline Revenue Operations.
- Chargebee helps companies identify new revenue channels through experimenting with pricing models; upselling through pitching additional features or bundles; and gleaning a unified view of all subscription and customer data. Additionally it offers tools to automate recurring billing and invoicing and forecast through data and analytics.
- Tiger Global Management, LLC is an investment firm that focused in the global internet, software, consumer, and payments industries.
- Sequoia Capital is an American venture capital firm headquartered in Menlo Park, California mainly focused on the technology industry.
- Company plans to use these funds for product innovation and global expansion as well as strategic corporate growth initiatives.
- As subscription offerings continue to rapidly evolve, Chargebee’s focus remains on providing a flexible growth engine to power, capture and understand revenue, all in real time.
- Chargebee CEO Krish Subramanian commented that more traditional businesses like automotive and food and beverage are now entering the subscription space to increase customer loyalty and collect better data. They have also seen a rise in subscriptions in the replenished goods, healthcare services, beauty and wellness and e-learning spaces to meet consumer demand for convenience and accessibility.
- Many business have aligned themselves with subscriptions like Netflix and spotify. However now traditional businesses have also started looking at subscription based models like monthly $10 taco subscription from Taco Bell.
- Chargebee has so far raised $470 million with this fundraise. The company became a unicorn in 2021, when it raised $125 million in Series G round from Sapphire Ventures, Tiger Global, Insight Venture Partners and Steadview Capital. Earlier in October 2020, the company had raised $55 million in a Series F funding round from Insight Partners.
- Chargebee has recently acquired customer retention platform Brightback in January 2022. Brightback is a customer retention solution that automatically saves customers at the moment of cancel.
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