Subscription management platform Chargebee has boosted its valuation to $3.5bn after it raised $250m in investment.
The financing was co-led by venture capital firms Tiger Global and Sequoia Capital and saw participation from Insight Partners, Sapphire and Steadview Capital. The investment comes nine months after its $125m raise in April 2021, which brought the company’s valuation up to $1.4bn.
Established in 2011, Chargebee is a recurring billing and subscription management tool that helps SaaS and SaaS-like businesses streamline revenue operations. The company integrates with the leading payment gateways such as PayPal and Stripe globally to help users automate reoccurring payment collection alongside taxes, accounting, customer management, SaaS metrics and email notifications.
The company automates the entire revenue lifecycle for over 4,000 subscription-based businesses.
According to Chargebee, the funding from the latest raise will go towards developing new products, expanding into new markets and territories alongside its new offices and investments in Australia and India.
Chargebee CEO Krish Subramanian says: “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.”
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