Six months on: Chargebee raises another $125m as subscription payments boom
CEO Krish Subramanian has overseen a tripling of the fintech’s valuation to $1.4bn since Chargebee’s last funding round.
US-based subscription payment processor Chargebee has tapped investors for another round of equity funding just six months after closing its $55m Series F.
The fresh $125m Series G comes from new investor Sapphire Ventures and existing backers Tiger Global, Insight Venture Partners and Steadview Capital.
“More than ever before, businesses need their subscription revenue platform to be the reliable system of record that enables them to rapidly scale their revenue processes,” said Krish Subramanian, CEO and co-founder of Chargebee.
“Chargebee is committed to spearheading this movement towards a subscription-first world,” he added.
According to Subramanian, Chargebee has tripled its valuation in the last six months from its previous funding round, and is now valued at $1.4bn.
When it comes to spending its fresh cash, Chargebee is vaguer, saying that the funding will be used to “expand its global footprint and further add to its partnership network”.
Its customer base already includes the likes of Okta, Freshworks, Calendly, Study.com, Pret a Manger and thousands of other subscription services.
“As the global shift to subscription-first models continue to grow in popularity, Chargebee has an incredibly bold vision for new products for multiple market segments,” said Rajeev Dham, a partner at Sapphire Ventures and new Chargebee board member.
“After years of knowing them, I’ve been most impressed by their thoughtfulness and execution in building Chargebee as the emerging category leader that is reinventing the broader space.”