Subscription management and recurring billing platform Chargebee, has raised $250 million in its Series H round co-led by Tiger Global and Sequoia Capital, with participation from Insight Partners, Sapphire, and Steadview Capital, at a valuation of $3.5 billion.
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With this, the company has now raised a total of $470 million in capital. Chargebee enables SaaS, e-commerce and subscription-based businesses to manage and grow their revenue by automating subscriptions, billing, invoicing, payments processes and it also provides key reports, metrics and insights, including the likes of Freshworks, Calendly, Doodle.
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The company said it plans to use the fresh funds for product innovation and global expansion to support the billing and revenue needs of current and future subscription businesses along with strategic corporate growth initiatives.
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Krish Subramanian, Co-Founder and CEO, Chargebee, said, āWe built Chargebee to solve infrastructure issues facing high-growth subscription businesses with a product roadmap laser-focused on replacing in-house systems orchestrating the complex parts of revenue intelligence like billing and payments. As subscription offerings continue to rapidly evolve, our focus remains on providing a flexible growth engine to power, capture and understand revenue, all in real-time.ā
