Chargebee: $250 Million for Subscription Management
Last day, Chargebee raised $250 Million from investors, including Tiger Global and Sequoia Capital. With this round, Chargebee increased their valuation by 2.5x within the last 12 months 🚀.
In 2022 every business wants a subscription revenue stream, and this is precisely what Chargebee targets ( Estimated market size of $1.5 T by 2025).
With this new shift towards subscription and pandemic acting as a catalyst, Chargebee doubled its revenue within the last 12 months.
Chargebee currently powers over 4,000 businesses, including SMBs, to enterprises, including Freshworks and Calandly.
👋 Building infrastructure for managing subscription payment is complex for small startups and SMBS
👋 Failed payment often leads to a loss in revenue
👋 Multiple countries have multiple regulations, and small teams will have difficulty navigating through it.
👋 Invoicing and billing processes are hard to scale
👋 Subscription revenue management is operation heavy
With the right founding team and laser focus on the right problem, Chargebee's founding team quickly found product-market-fit and expanded the product line based on ever-growing consumer demand.
By the end of 2015, Chargebee's was handling $100 Million in annual transactions. This was an insane milestone to achieve just after 5 years of inception.
In this last round, there was participation from investors, including Insight Partners, Sapphire, and Steadview Capital.
Right now, Chargebee has an annual revenue of $33.7M with a 40.50% year over year growth (2021 stats).
Kudos and Best wishes to Chargebee's team, Saravanan KP, Krish Subramanian, Rajaraman Santhanam, @Thiyagarajan Thiyagu - Lead the way 🥂.