Chargebee, a recurring billing platform for subscription-based SaaS and e-commerce businesses, recently announced it raised $18 million through its Series C funding round, which was led by Insight Venture Partners, with participation from existing investors Accel Partners and Tiger Global Management.
Founded in 2011, Chargebee reported that it integrates with payment gateways such as Stripe, Braintree, PayPal to allow customers to automate recurring payment connections along with invoicing, taxes, accounting, email notifications, SaaS Metrics, and customer management. The company itself has more than 135 employees operating out of offices in Chennai and San Francisco and over 7,000 customers across 50 countries. It has also helped process over $65 Million USD of Invoices by early-stage companies for free and paid-forward $1 Million in doing this, which stands dwarfed in comparison to the impact of these global businesses that are being built with Chargebee.
“Our growth is a testimony to the promise of the subscription world we operate in. And as enablers of the subscription model, we are uniquely placed to power your businesses – small, medium or enterprise.”
Speaking about the latest funding round, Harley Miller, VP at Insight Venture Partners, stated:
“Chargebee delivers a broader and deeper subscription billing management solution built for both non-technical business users as well as developers. As a firm, we are long on recurring revenue businesses. Chargebee is poised to capitalize on this trend, as its solution is both robust and easy to use for SMB and enterprise clients alike. We are very excited to partner with such a highly talented, ambitious team.”
Krish Subramanian then added:
“This investment is a shot in the arm for Chargebee to reimagine billing systems, and build out the product and service that enables both businesses and in turn, their customers.”