Chargebee, a subscription management platform, has announced the closing of a $250 million funding round co-led by Tiger Global and Sequoia Capital.
The round also saw participation from investors such as Insight Partners, Sapphire and Steadview Capital. Previously, the company has raised $125 million at a $1.4 billion valuation in the last round in April 2021. Till now, Chargebee has raised a total of $470 million in funding.
Tejeshwi Sharma, MD, Sequoia India, said, “We believe every company will be a subscription company in the future. Chargebee platform offers customers a real-time 360-degree view into revenues and user behavior and the intelligence they can use to quickly adapt and make better business decisions.”
The new round of funding will be used towards product innovation and global expansion to support the billing and revenue needs of current and future subscription businesses, as well as strategic corporate growth initiatives.
“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. This round of funding will drive innovation to empower the next generation of businesses leveraging subscription billing models to quickly start, scale and transform,” said Krish Subramanian, CEO and co-founder, Chargebee.
Chargebee is the subscription management platform that automates revenue operations of over subscription-based businesses, from startups to enterprises. It helps subscription businesses across verticals, to manage and grow revenue by automating subscription, billing, invoicing, payments, and revenue recognition operations and provides key metrics, reports, and business insights.