RevenueCat, a platform for managing consumer app monetization, has raised a $50 million Series C round led by Bain Capital Ventures. Returning investors Index Ventures, Y Combinator, Adjacent, Volo Ventures and SaaStr Fund also participated. This adds to the prior $12 million Series C that was raised last year, bringing the total raised to $100 million. Funds are earmarked for staffing and product development.
“RevenueCat is at a genuine inflection point,” said Mark Fiorentino, who led RevenueCat’s Series A at Index Ventures in 2020 and recently joined Bain Capital Ventures. “They’ve quietly become critical infrastructure for the mobile economy — now, as the lines between apps, AI, and the web blur, they’re uniquely positioned to grow into one of the most important companies powering consumer software.”
According to RevenueCat, over the last three months, more than one out of three subscription apps that debuted on iOS or Android, worldwide shipped with RevenueCat under the hood. Altogether, more than 50,000 apps now rely on RevenueCat to manage subscriptions, consumables, lifetime purchases, and—newly—virtual currencies, making it the go‑to platform for developers looking to monetize their product.
Recent launches include Paywalls, a drag-and-drop paywall editor that lets developers build, configure, deploy, and test paywalls without touching code; Web Billing for off-app store transactions; and virtual currency support — an increasingly popular approach to monetization in AI and gaming.
The company plans to expand further into fintech, solving developer cashflow constraints caused by net-45 app store payout cycles. RevenueCat also plans to roll out features that help developers acquire users, optimize conversions and boost retention — a holistic approach to running a thriving consumer app.
“Developers deserve a frictionless way to make money, and nobody has approached this with our level of focus,” said Jacob Eiting, CEO and co-founder of RevenueCat. “We’re already assisting more annual app revenue than existed in the entire ecosystem when we started in 2017. The market has grown 10x, and I expect another 10x over the next decade. By staying radically focused on helping developers get paid, I believe we can build a generational public company.”
RevenueCat believes it is well-positioned to help apps navigate changes in consumer software monetization. Given the recent ruling that developers may now use non-in-app purchases in the USA on iOS, there’s an opportunity to save significant money in platform fees by sending users to a web checkout page instead.
In response, RevenueCat shipped its Web Paywall Button, giving developers a drop‑in way to A/B‑test external payments versus in‑app purchases while easily targeting eligible users.
RevenueCat said it processes more than $8 billion in annual transactions, powering monetization for OpenAI’s ChatGPT, Notion, VSCO and Runna (recently acquired by Strava).
