SAN FRANCISCO – Chargebee, which operates a subscription billing and revenue management platform, announced a $125 million series G funding, co-led by new investor Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners. With this round of funding, Chargebee is now valued at $1.4 billion, a 3x growth in valuation since their previous round of funding less than six months ago.
As a core revenue enabler for thousands of subscription businesses, Chargebee’s rapid growth has further been spurred by its fast time-to-value, and long-term investment in customer growth. Even large global enterprises are able to go live leveraging a subscription model with Chargebee in as little as less as 10 days.
“Today we are able to roll out a new pricing experiment in 30 minutes and converge on the right pricing point that suits our customer segments, said Paul Kapsner, Director of Finance at a superfoods company and a long-term customer of Chargebee. “Chargebee has given us the freedom to make mistakes, and then fix them right away,”
Chargebee boasts a 150% Net Retention Rate (NRR), indicating its ability to consistently partner with and solve complex subscription use cases of its fastest growing customers.
“Businesses today have to be able to 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,” said Krish Subramanian, Co-founder and CEO at Chargebee. “Chargebee is committed to spearheading this movement toward a subscription-first world by helping our customers realize rapid value, and being an integral partner in their long-term growth journey.”
“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,” says Rajeev Dham, Partner at Sapphire Ventures. “As the global shift to subscription-first models continue 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.”