Saas product company Chargebee’s backers eye exit at $1.5 Billion valuation
- ByStartupStory | December 15, 2022
Early-stage investors in Chargebee are seeking to sell a portion of their stake and are in talks with new and existing institutional investors. The subscription management platform Chargebee has raised $250 million in a funding round led by Tiger Global and Sequoia Capital, valuing the company at $3.5 billion in february. Chargebee is a PCI Level 1 certified recurring billing platform for subscription based SaaS and eCommerce businesses. In just nine months, the company has raised about $468 million in equity funding from investors during April.
“The early investors are offering the stake at a steep discount,” one of the two people said, requesting anonymity. “It could be as low as $1.5 billion.” revealed by the company. Chargebee was founded by Krish Subramanian, Saravanan K.PRajaraman, Santhanam and Thiyagarajan T in 2011.
The major services of the firm is to integrate with the leading payment gateways like Stripe, Braintree, PayPal etc. around the world to automate recurring payment collection along with invoicing, taxes, accounting, email notifications, SaaS Metrics and customer management. Chargebee handles all crucial workflows from lead to ledger with power packed integrations that include Salesforce, Xero, Quickbooks, Avalara, Slack, among others.Their offices are in San Francisco, Amsterdam, Salt Lake City, and Chennai, has expanded its services from automating billing operations to managing end-to-end subscription workflows, including revenue operations and compliance. They are also planning new offices and investments in Australia and partnerships with industry leaders, including GoCardless, Salesforce, Hubspot and PayPal as per the source information.
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