Chargebee is the new member of the unicorn club with the latest valuation of $1.4 billion. The startup announced that it has collected a total of $125 million from Tiger Global, Sapphire and Insight Ventures in a Series G funding round. Chargebee provides billing, subscription, revenue, and Compliance related solutions to its clients.
Financial Growth of Chargebee
Chargebee has two headquarters in Chennai and San Francisco. In the latest financial round led by Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners, the startup raised $125 million, as announced by Chargebee. Other existing investors also participated in the recent round.
Founded in 2011, Chargebee valuation surged to $1.4 billion that is 3x growth from its market cap after the series F funding round. The startup concluded the F series round in 2020. Chargebee has raised a total of $230 million in all the funding rounds including the current one.
If you want to start an online service that is subscription-based or you want to set up a recurring revenue system, Chargebee is the right destination to solve such issues. The firm provides hassle-free services. Services like a trial pack, shifting customers from one tier to another are the tasks handled by Chargebee.
Most of the Chargebee clients are from small and medium sizes firms. Individuals also take the help of Chargebee to set up such operations.
Chargebee Founder’s statements about Industry and Startup Journey
Chargebee can set up such services for your business within a week. As per Chargebee claim, the company can also automate the big firm’s subscription model within 10 days. Fast and reliable services are the strengths of Chargebee.
In an interview with TechCrunch, Krish Subramanian, co-founder and chief executive of Chargebee said:
“The industry is going through a “significant change” with businesses digitally transforming themselves and moving to the SaaS model, And it’s this change that has made Chargebee so vital to thousands of companies today.”
Subramanian started Chargebee from an apartment in Chennai. He got inspired by the blog post of Joel Spolsky, founder of Trello.
Talking about the inspirational journey motivated by Joel, Subramanian said:
“He was solving a very boring problem but in very interesting ways, and he used to share the story of how he is building a company. That was my inspiration that I should start my company like that. So while working at other companies we saved enough and acquired skills to start this.”
