Chargebee, an enterprise focussed subscription management platform, has raised $250 million in a new funding round which was co-led by Tiger Global and Sequoia Capital, according to ETtech report.
Post the financing, the software-as-a-service (SaaS) startup will see its valuation jump to $3.5 billion. Its existing investors like Insight Partners, Sapphire and Steadview Capital have also participated in this round.
In April 2021, the Chennai-and-San Francisco-based Chargebee had entered the unicorn club after closing a $125 million funding round. With this, the company has now raised a total of $470 million in capital.
“We built Chargebee to solve infrastructure issues facing high-growth subscription businesses with a product roadmap laser-focused on replacing in-house systems orchestrating the complex parts of revenue intelligence like billing and payments. As subscription offerings continue to rapidly evolve, our focus remains on providing a flexible growth engine to power, capture and understand revenue, all in real-time,” said Krish Subramanian, cofounder and CEO, Chargebee.
“We believe every company will be a subscription company in the future. The predictability of a subscription business model is extremely attractive, and Chargebee is the leading revenue management partner for the subscription economy. Its platform offers customers a real-time 360-degree view into revenues and user behaviour and the intelligence they can use to quickly adapt and make better business decisions,” said Tejeshwi Sharma, MD, Sequoia Capital India.
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