The round was led by Sapphire Ventures, Tiger Global, and Insight Venture Partners. The company said the funding will allow Chargebee to expand its global footprint and further add to its partnership network.”
Subscription Management and Recurring Billing Software
San Francisco-based SaaS startup Chargebee on Tuesday announced that it has raised $125 million in series G funding, co-led by new investor Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners, along with participation from another existing investor, Steadview Capital.
The company said the new round of funding will allow Chargebee to expand its global footprint and further add to its partnership network. Chargebee is now valued at $1.4 billion, which triples its valuation in less than six months.
Founded in 2011 by 4 associates — Rajaraman Santhanam, Thiyagarajan Thiyagu, Saravanan KP(CTO), Krish Subramaniam (CEO) — Chargebee’s product automates complicated billing and income operation challenges that come up as subscription companies scale into massive enterprises and likewise supplies key stories, metrics and insights into the subscription enterprise.
Graduating from a top accelerator or incubator can be as career-defining for a startup founder as an elite university diploma. The intensive programmes, which are often just a few months long, help startups refine and grow before a “pitch day” to potential investors and press. Such schemes provide mentorship, money and networking, often in exchange for equity in the company.
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The brand-new round of funding will enable Chargebee to develop its world footprint and additional add to its partnerships community.SaaSDekho Funding Update!
The SaaS startup also enables businesses to rapidly move into new markets, geographies, and recurring business models. In a statement, Chargebee said it is used by over 2,500 companies globally, including businesses like Freshworks, Okta, Calendly, and Study.com. Speaking about the new development, Krish Subramanian, Co-founder, and CEO, Chargebee, stated, The company recently brought out enterprise-class capabilities like usage-based billing and a dedicated data center for Europe.
“Businesses today need to quickly respond to evolving customer needs, compliance requirements, and market pressures in real-time. More than ever before, businesses need their subscription revenue platform to be the reliable system of record that enables them to rapidly scale their revenue processes,” better business decisions.
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Rajeev Dham, Partner at Sapphire Ventures added,
“We are thrilled to partner with Krish, Raman, and the entire Chargebee team as we believe they have built a leading product in the subscription billing and revenue management space.” “As the global shift to subscription-first models continues to grow in popularity, Chargebee has an incredibly bold vision for new products for multiple market segments. After years of knowing them, I’ve been most impressed by their thoughtfulness and execution in building Chargebee as the emerging category leader that is reinventing the broader space,” he said.
With this, Chargebee has become India’s 11th unicorn in 2021, and sixth in Tiger Global’s kitty from this year. New York-based Tiger Global already backs 20 unicorns in India.