Chargebee, a recurring billing platform for subscription-based SaaS and e-commerce businesses, announced on Wednesday it raised $14 million through its Series D funding round, which was led by Steadview Capital. The new investment brings the total funds raised to date to $38.2 million, including last year’s $18 million through the company’s Series C funding round.
As previously reported, Chargebee 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. Krish Subramanian, Co-Founder and CEO of Chargebee, stated:
“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.”
Speaking about the investment,Ravi Mehta, Founder and Managing Director of Steadview, commented:
“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.”
The funds from Series D will be used for continuous growth and development of the Chargebee platform.