Chargebee Rings Up $14M in Funding, Builds Stronger Ecosystems for Revenue Operations Teams

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Aug 28, 2019, 09:00 ET

SAN FRANCISCO, Aug. 28, 2019 /PRNewswire/ -- Chargebee, a leading subscription management platform, today announces it raised a $14M Series D funding round, led by Steadview Capital. The new investment brings the total funds raised to date to $38.2M.

Fast-growing SaaS businesses are now investing in streamlining their revenue operations to identify leakage and capture opportunities across their revenue cycle. Chargebee aims to enable these businesses with a powerful subscription infrastructure that lets them scale their business process as they grow.

"Enterprises and rising startups recognize the value of subscription businesses. Unlike transactional revenue models, subscriptions require companies to evaluate longer-term metrics and redefine KPIs for success," said Krish Subramanian, co-founder, and CEO of Chargebee.

The current round of funding, led by London-based Steadview Capital, along with existing investors, Insight Venture Partners and Accel, also suggests Chargebee's aspirations to become the dominant subscription platform for the growing European SaaS market.

"High-growth subscription businesses need the right kind of infrastructure that enables a rapid scale. Over the next few years, we believe robust subscription management platforms will become an essential layer in business tech stacks. We are very excited to partner with Chargebee in this space," said Ravi Mehta, Founder and Managing Director, Steadview.

In June, Chargebee opened a new office in Europe to be closer to its customers in the growing market. The company followed its European expansion with a rollout of new product updates focused on optimizing revenue operations, compliance and revenue recognition.

"SaaS and subscription-based products must be customer-centric, while also maximizing profitability at scale. As the source of truth for subscription data, Chargebee is in a unique position to enable businesses with both the experience and revenue opportunities they can capture," said Shelly Perry, Board Member from Insight Partners.

"Globally, subscription-based businesses have seen aggressive growth over the last few years," said Shekhar Kirani from Accel. "Infrastructure platforms like Chargebee handle subscription management, billing, compliance, and revenue recognition allowing modern businesses to focus on their core competencies."

The company plans to deploy this new investment in expanding their product offerings and partnerships to build an end-to-end subscription ecosystem to automate revenue operations.

About Chargebee
Chargebee automates revenue operations of high-growth, subscription-based business. Its SaaS platform helps businesses manage and grow their revenue by automating subscriptions, billing, invoicing, payments and revenue recognition processes and it provides key reports, metrics and insights into their subscription business. Founded in 2011, Chargebee is used by over 1,800 companies in 53 countries using more than 120 currencies. For more information, visit www.chargebee.com or follow us on Twitter @chargebee.

SOURCE Chargebee