Chargebee secures $ 125 million in enterprise capital funding
Chargebee, a subscription billing and income administration platform, has generated a further $ 125 million in enterprise capital funding. Sequence G was co-led by new investor Sapphire Ventures and current buyers Tiger World and Perception Enterprise Companions, and current investor Steadview Capital additionally participated, Chargebee mentioned in a press launch on Tuesday, April 20.
The corporate mentioned the most recent funding means “Chargebee is now valued at $ 1.4 billion, tripling its valuation in lower than six months.” The press launch says the funding will gasoline its growth efforts.
As subscription fashions proceed to realize recognition all over the world, “Chargebee has an extremely daring imaginative and prescient for brand spanking new merchandise,” mentioned Rajeev Dham, accomplice of Sapphire Ventures and final member of Chargebee’s board of administrators.
“Companies at this time should reply rapidly to altering buyer wants, compliance necessities and market pressures,” mentioned Krish Subramanian, Co-Founder and CEO of Chargebee. He mentioned the corporate affords a “dependable registration system that permits them to quickly evolve their income administration processes.”
The corporate mentioned its platform can deal with “all facets of the subscription lifecycle – together with recurring billing, billing, and trial administration” for patrons. Chargebee clients embody Okta, Freshworks, Calendly and Research.com “and hundreds of different excessive development subscription corporations”.
A weblog put up from Subramanian mentioned that through the use of Chargebee’s platform, Research.com was capable of profit from the pandemic push given to e-learning by increasing into 18 new markets in 90 days. In the present day, he mentioned, Research.com is “one of many main on-line schooling platforms supporting over 34 million college students and educators monthly globally.”
The weblog added that some 18,000 clients in 160 international locations run their subscription income operations on Chargebee.
Chargebee additionally attracted $ 55 million in enterprise capital funding in early October. On the time, that introduced its whole enterprise capital funding to $ 105 million.
On the time, the corporate mentioned, “With the most important international footprint by way of cost protection, invoicing and tax administration, Chargebee allows companies to enter new markets rapidly.”