HT TECH wants to start sending you push notifications. Click allow to subscribe

Billing startup Chargebee raises $125 million in funding, valued at $1.4 billion

The startup, which helps enterprises with subscription billing and revenue management, raised $125 million in funding and boosted its valuation to $1.4 billion, reaching so-called unicorn status for the first time.

By: BLOOMBERG
Updated on: Aug 21 2022, 16:49 IST
A group photo of Chargebee's founders.   (Chargebee)

Chargebee Inc., a startup that helps enterprises with subscription billing and revenue management, raised $125 million in funding and boosted its valuation to $1.4 billion, reaching so-called unicorn status for the first time.

The round was led by existing investors Tiger Global and Insight Venture Partners and new baker Sapphire Ventures, along with participation from earlier investor Steadview Capital. The infusion will help the company scale globally as customers hasten their shift to subscription-based services, Chargebee said in an announcement on Tuesday.

You may be interested in

Mobiles Tablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹148,900₹159,900
Buy now
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
₹107,999₹149,999
Buy now
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
₹106,998
Check details
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹87,900
Check details
21% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹58,990₹74,999
Buy now
41% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹52,990₹89,999
Buy now
22% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹33,499₹42,999
Buy now
40% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹30,990₹51,990
Buy now
35% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹25,999₹39,999
Buy now
55% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹47,000
Buy now
32% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,678₹28,999
Buy now
Honor Pad X9
  • Gray
  • 4 GB RAM
  • 128 GB Storage
₹14,999
Check details

Also read: Razorpay raises 160 million, triples valuation to $3 billion in six months

“The pandemic has accelerated the shift to software-as-a-service subscription models,” Krish Subramanian, co-founder and chief executive officer, said during a Zoom call. “Every business from streamed content to e-commerce to e-learning has become subscription-based, needs global pricing and recurring billing systems.”

Subramanian and three friends founded the business in Chennai, India, in 2011 and have since gone global. The CEO is based in Amsterdam and the startup is officially incorporated in the U.S., though most of its operations and the other three founders remain in India.

Chargebee helps small and medium enterprises, from carmakers to cafe chains, automate billing, subscriptions, invoicing and payments in different geographies. Subscription models are increasingly popular as customers look for predictable, recurring revenue. The pandemic has accelerated the shift to subscription-based billing, a market estimated to grow at 14% annually to $7.8 billion by 2025, according to consultancy MarketsandMarkets Research Pvt.

Read more: 'Fortnite' maker Epic Games gets $28.7 billion valuation in latest funding

Chargebee has about 3,000 customers, including home automation company Ecobee Inc and sandwich chain Pret A Manger Ltd. It helps them implement subscription plans in different countries, roll out pricing experiments and partner with payment providers such as Stripe Inc. and PayPal Holdings Inc.

“We want to quickly scale to 30,000 clients in the coming years and drive innovation,” co-founder and Chief Operating Officer Rajaraman Santhanam said, speaking on the same videoconference call.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on ,Twitter, Facebook, , and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 20 Apr, 16:58 IST
Tags:

Sale

Mobiles Tablets Laptops
4% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
₹129,999₹134,999
Buy now
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹148,900₹159,900
Buy now
13% OFF
Xiaomi 14
  • Matte Black
  • 12 GB RAM
  • 512 GB Storage
₹69,999₹79,999
Buy now
10% OFF
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹80,590₹89,900
Buy now
33% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,999₹39,999
Buy now
38% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹34,000
Buy now
28% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹17,999₹24,999
Buy now
21% OFF
Samsung Galaxy Tab S8
  • Silver
  • 8 GB RAM
  • 128 GB Storage
₹54,999₹69,999
Buy now
27% OFF
Infinix INBook X1 Neo XL22 Laptop Intel Celeron Quad Core 8 GB 256 GB SSD Windows 11
  • Blue
  • 4 GB RAM
  • 128 GB SSD
₹21,990₹29,990
Buy now
39% OFF
Asus Vivobook K15 OLED 90NB0SG3 M43720 Laptop
  • Hearty GOLD
  • 8 GB RAM
  • 1 TB HDD
₹34,990₹56,990
Buy now
26% OFF
Asus ROG Strix G15 G513RM HF274WS Laptop
  • Green
  • 16 GB RAM
  • 1 TB SSD
₹86,990₹117,990
Buy now
39% OFF
HP ZBook Firefly 14 G9 7M3T2PA Laptop
  • Nouvelle Silver
  • 16 GB RAM
  • 1 TB SSD
₹98,900₹162,500
Buy now
NEXT ARTICLE BEGINS