ChargeBee, A Saas Firm Bags $55 Million In Series F

ChargeBee Founders
Image Credits: Yourstory

What is ChargeBee?

ChargeBee is a subscription management system helping customers with recurring bills, invoicing, and trial management.

The company was brought into functionality when four friends- Rajaraman, Saravanan (KPS), Krish Subramaniam, and Thiyagarajan were sitting together in a Rajaraman’s apartment room.

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ChargeBee Founders
Image Credits: Yourstory

In June 2011, in Chennai, the four friends decided to build a company together. By 2013, January, their platform was brought into consideration by few customers who started using ChargeBee.

ChargeBee is a global team with fearless idols who believe they can change the world. They received various investments from top investors soon after the customers valued their platform.

The platform has access to their offices in the US, Netherlands, and India.

Following the motto of “Bringing simplicity to a complex everyday problem”, ChargeBee has access across the globe.

Chargebee has Practo and FreshWorks as then Indian clients.

The company has traditionally seen their business across continents by signing up for an online subscription management during the pandemic.

“We believe that a steady as Saas-i-fication of the market is already underway with traditional businesses replicating the best practices of SaaS pricing and business models even outside the realm of software. Subscription businesses today have to be ready at all times to identify and leverage market opportunities rapidly,” said KrishSubramaniam, Co-founder and CEO of ChargeBee.

The Chennai-based start-up, ChargeBee, has planned to unveil new features for the expansion across verticals including SaaS, digital media, and retail subscription commerce.

ChargeBee has major competitors including Zoho, Zuora, Chargifyand Aria system.

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ChargeBee Raises $55 Million In Series F

ChargeBee
Image Source: Twitter

ChargeBee has fascinated various investors towards them leading to a massive $55 Million funding raised in series F round.

The Series F round was led by Insight Partners with participation from Steadview Capital and Tiger Global, their existing investors.

The Chennai-based company has decided to invest their money in improving their platform and developing new solutions for the provision of increasingly complex revenue models.

There was an undisclosed series E round, in May 2020, followed by series D fundraises of $14 Million by Schedule Capital.

In March 2018, in series C round, Insight Partners raised $18 Million for ChargeBee.

For series B funding, in March 2015, a fund of $45 Million was successfully raised by Accel. Accel has previously, in 2014, January, for series A, raised $8 Million for ChargeBee.

Chargebee’s seed funding round was held in September 2012 where a fund of$370, 000 was raised.

“Even beyond SaaS and software we are seeing a global movement where businesses from cars to coffee pods are launching and scaling with a subscription-first model. The need for an underlying revenue platform that allows businesses this degree of adaptability is Paramount today,” said AJ Malhotra, Vice-President of Insight Partners.

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Kritika
Student with ambitions, writer with ideas.
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