SaaS startup Chargebee has raised $125 million in series G funding at a valuation of $1.4 billion. The round was led by new investor Sapphire Ventures and existing investors Tiger Global, Insight Venture Partners, and Steadview Capital.
Chargebee is looking to increase its global presence and further add to its partnership network.
The startup was founded in 2011 by four friends, Rajaraman Santhanam, Thiyagarajan Thiyagu, Saravanan KP(CTO), and Krish Subramaniam (CEO). Chargebee’s product automates complicated billing and revenue administration challenges that emerge as subscription businesses grow into large companies and also offers key reports, metrics, and insights into the subscription business.
The SaaS startup also allows enterprises to swiftly advance into new markets, geographies, and recurring business models.
Chargebee claimed that its platform is used by more than 2,500 companies globally, and counts businesses like Freshworks, Okta, Calendly, and Study.com as its clients.
Commenting on the investment, Krish Subramanian, Co-founder and CEO, Chargebee, stated, “Businesses today need to quickly 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.”
Rajeev Dham, Partner at Sapphire Ventures and the latest Board member of Chargebee, added, “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.”
“As the global shift to subscription-first models continues 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,” he said.
As people are rapidly shifting to subscription-based services, SaaS startups like Chargebee have immense growth opportunities.Shishir Gupta, Founder and CEO, StartupLanes
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