Chargebee, a subscription management and recurring billing platform, has acquired $250M in additional capital at a $3.5B valuation.
Thrilled to announce that @Chargebee has raised $250M at a $3.5B valuation.🚀
We are grateful to our investors, customers, partners & team who have supported our vision to empower growth for subscription businesses.
Thank you all! 🧡
Learn more: https://t.co/acpFKVRX50#Funding pic.twitter.com/D8Zftuck9T— Chargebee (@chargebee) February 1, 2022
Tiger Global and Sequoia led the investment round, along with contributions from Insight Partners, Sapphire, and Steadview Capital.
Chargebee‘s management says they are grateful to their investors, customers, partners and team who have supported their vision to “empower growth for subscription businesses.”
Chargeebee’s subscription management services aim to assist software-as-a-service (SaaS) firms with identifying various revenue channels by experimenting with different pricing models.
Chargebee provides tools to automate key business processes such as recurring billing and invoicing. The Fintech firm supports international payment options in 100+ currencies; and offers forecasts via data-driven financial reports and advanced analytics.
Previously, the company had acquired $218 million, which included a $125 million installment about a year back. The firm’s management stated that they’re well-capitalized to enhance their platform by adding more features such as updated pricing and selling models.
Chargebee is also looking to added more payment options along with various other reporting options. This latest fundraise further builds on several strategic acquisitions that have extended Chargebee’s business operations in the fast-evolving subscriptions management sector.
Notably, the Fintech firm has finalized its funding round at a time when the SaaS sector is really gaining traction. In fact, public Cloud end-user spending is set to reach $400 billion this year, Gartner revealed, with SaaS accounting for a major share (appr. $145 billion).
As covered ChargeBee had noted that for the year it had to follow, 2021 had “a relatively low benchmark to beat in terms of popularity.”
ChargeBee, a San Francisco-based financial services firm that’s helping subscription-based businesses stay “agile and adapt their revenue operations workflows to scale faster,” writes that after all that “despair, shelter-in-place lockdowns, business shutdowns, and headlines ranging from wildfires to toilet paper shortages in 2020, all 2021 had to do to win the ‘Best Year Ever’ coffee mug was just show up, and repeat pretty much any other year in human history.”
The team pointed out that last year “turned around and gave us a half dozen new variants of the virus.”
However, it was a year to be “thankful for,” according to ChargeBee. For them, 2021 was about enabling you for your “future ambitions.” To scale with “confidence, experiment, expand into new geographies, tighten your revenue workflows, and get complete visibility into every last dollar and subscriber.”
In 2021, ChargeBee had their second run of the Champions of Change Summit with more than 6000 participants from across the globe. They also had their region-specific user conferences for the US; Europe; and Australia, New Zealand, and Asia.