Chargebee raises $250 Mn driven by Tiger and Sequoia at $3.5 Bn valuation
- ByStartupStory | February 2, 2022
Chargebee, a subscription control and habitual billing platform, has raised $250 million in its Series H spherical at a valuation of $3.five billion. The modern-day spherical became co-led through Tiger Global and Sequoia Capital, with participation from Insight Partners, Sapphire, and Steadview Capital.
This is a 2.5X bounce in Chargebee`s valuation within 10 months. The Chennai and San Francisco-primarily based total corporation had raised $a hundred twenty-five million in its Series G financing spherically led through Sapphire Ventures at a valuation of $1.four million in April. The corporation has raised $470 million to date.
Chargebee plans to apply the sparkling budget for product innovation and worldwide growth in addition to strategic company boom initiatives, stated the corporation in a press statement.
Founded in 2011 through Subramanian, Saravanan KP, Rajaraman Santhanam, and Thiyagarajan T, Chargebee manages sales operations for subscription-primarily based groups for startups and large firms.
The corporation allows SaaS, e-trade and subscription-primarily based totally groups to control and develop their sales through automating subscriptions, billing, invoicing, bills strategies and it additionally gives key reports, metrics, and insights into their subscription business. Its subscribers consist of Freshworks, Calendly, and Doodle.
According to Chargebee, it has grown its annual habitual sales by over 100% withinside the remaining 12 months. The corporation claimed that massive worldwide firms can release subscription plans the use of Chargebee`s offerings and has a retention charge of 150%.
Chargebee`s essential competition consists of Zoho, Zuora, Chargify, and Aria Systems.
India is home to around 10 unicorns withinside the Software As A Service (SaaS) startups. The listing consists of Postman, BrowserStack, Freshworks (now a public corporation) Zenoti, Innovacer, Icertis, Browserstack, and Mindtickle. In August 2021, Postman dethroned BrowserStack to emerge as India`s maximum precious SaaS.
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