KUALA LUMPUR, Feb 3 -- Chargebee, the leading subscription management platform, has announced the closing of a US$250 million investment round co-led by Tiger Global and Sequoia Capital, along with returning investors including Insight Partners, Sapphire and Steadview Capital. (US$1 = RM4.176)
This round follows a previous round in April raising US$125 million at a US$1.4 billion valuation, bringing the total investment in the company to US$470 million, according to a statement.
The new round of funding will be used towards product innovation and global expansion to support the billing and revenue needs of current and future subscription businesses, as well as strategic corporate growth initiatives.
“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 chief executive officer and co-founder of Chargebee, Krish Subramanian.
“This round of funding will drive innovation to empower the next generation of businesses leveraging subscription billing models to quickly start, scale and transform.”
Chargebee manages revenue operations for subscription-based businesses ranging from early-stage startups to larger enterprises, including Freshworks, Calendly, Doodle and Pret a Manger.
Through simple and seamless integrations, Chargebee captures the entire revenue lifecycle from first interaction to the closing of the books each month, empowering teams to make business growth decisions with confidence.
The company recently expanded offerings to build a unified revenue management platform with strategic acquisitions of leaders in revenue recognition (RevLock) and churn deflection and retention (Brightback).
The company has also expanded globally with new offices and investments in Australia and India and partnerships with industry leaders including GoCardless, Salesforce, Hubspot and PayPal.
More details at www.chargebee.com.
-- BERNAMA
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