Chargebee Closes Series C with $18 Million Investment from Insight Venture Partners
Chargebee, a SaaS subscription management and recurring billing solution, has secured $18 Million in growth capital, led by New York-based Insight Venture Partners. The Series C investment also saw participation from previous investors, Accel Partners and Tiger Global Management. With this round of funding, the total investment stands at $24.7 Million. This capital will be used for increased investment in product R&D, sales, marketing and growth, to expand aggressively into newer markets and segments.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180320005567/en/
Chargebee founders (Photo: Business Wire)
Chargebee offers a payment gateway agnostic subscription billing solution, complementing gateways like Stripe, Braintree, PayPal, Adyen and many others. Chargebee powers the recurring revenue engines of B2B and B2C services across various industry verticals like SaaS, Digital Media, eCommerce, and IoT. Founded in 2011, Chargebee has scaled to support 7000+ customers in 53 countries.
Harley Miller, Vice President at Insight Venture Partners, will be joining the board. Harley commented, “Chargebee delivers a broader and deeper subscription billing management solution built for both non-technical business users as well as developers. As a firm, we are long on recurring revenue businesses. Chargebee is poised to capitalize on this trend, as its solution is both robust and easy to use for SMB and enterprise clients alike. We are very excited to partner with such a highly talented, ambitious team.”
“Worldwide, we see a strong trend in subscription businesses with innovative pricing and product bundling. Building a sustainable recurring revenue business is hard. It requires merchants to continuously deliver product value and customer service. And that makes billing a mission critical system, that provides the flexibility needed to build a scalable business - on one side enabling a fluid customer experience, while on the other, ensuring compliance in an increasingly regulated global economy. With Insight’s support, Chargebee’s new investment will be channelised towards furthering our goal to democratise billing and subscription management, and empower teams to create customer-first subscription experiences, without the developer dependencies that exist in most systems today,” said Krish Subramanian, Co-Founder & CEO, Chargebee.
“We help our customers launch their business and grow into new countries, without having to worry about compliance, tax rules, language, currency, and even new revenue models. We take a lot of pride in remaining behind the scenes while powering our customer’s businesses. We want to be the AWS of Subscription Billing.” added Krish.
This investment marks a significant milestone in Chargebee’s growth story, with the company focusing on expanding the capabilities of their billing and subscription engine, along with building a healthy ecosystem of integrations all the way from lead to ledger, to further automate accounts receivables.
About Chargebee: Chargebee is a subscription and recurring billing management solutions company that helps businesses manage their billing, payments, subscriptions, security, compliance, and invoicing services efficiently. Founded in 2011, Chargebee offers a SaaS solution that simplifies billing complexities and functions for subscription businesses, while delivering a consistent experience across all customer touchpoints. Chargebee is backed by Insight Venture Partners, Accel Partners, and Tiger Global Management. For more information on Chargebee, visit www.chargebee.com or follow us on Twitter @chargebee.
About Insight Venture Partners: Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Coronation Fund Managers Goes Live with SmartStream’s Corporate Actions Solution24.10.2018 02:01 | Tiedote
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that Coronation Fund Managers, one of the largest independent fund managers in South Africa, has gone live with TLM Corporate Actions OnDemand – automating the complete corporate actions lifecycle. Llewellyn Smith, COO at Coronation states: “We continue to make investments in our business, specifically in technology that enhances our clients’ service experience, and which allows us to achieve greater operational efficiencies. Through SmartStream’s tailored solution, we achieve automation of our corporate actions operational processes. Given that this project ran in parallel with a number of strategic initiatives, its successful implementation was essential. We value SmartStream’s corporate actions expertise which guided us through the procedure in less than four months”. Coronation is using the TLM® Corporate Actions OnDemand solution to process mandatory and voluntary ev
EASA Approves AerTrak ADS-B Out System for Boeing 737 NG Series Aircraft24.10.2018 00:47 | Tiedote
AerSale ®, a global supplier of mid-life aircraft, engines, used serviceable material, and MRO services, announced today that the European Aviation Safety Agency (EASA) has approved the company’s AerTrak™ ADS-B Out system on Boeing 737 NG series aircraft (10065422). Earlier this year, the Federal Aviation Administration (FAA) approved AerTrak for Boeing 737 NG series aircraft (ST04009NY) and Boeing 757-200 series aircraft (ST04011NY) to comply with the FAA’s Automatic Dependent Surveillance-Broadcast (ADS-B) Operations rule. The Boeing 757-200 series aircraft Supplemental Type Certificate (STC) is now pending EASA and National Civil Aviation Agency of Brazil (ANAC) validation. “With this validation, we demonstrate our commitment to our European customer base,” said Iso Nezaj, Chief Technical Officer at AerSale. “Operators can now choose a fully-compliant ADS-B Out system visible to all—with no certification fees. We’re working to expand AerTrak to cover additional aircraft types and lo
Greene Tweed Receives Patent for Rapid Gas Decompression-Resistant Fluoroelastomers and Molded Articles24.10.2018 00:00 | Tiedote
The U.S. Patent Office has awarded Greene Tweed Patent Number 10,011,690 for Rapid Gas Decompression-Resistant Fluoroelastomer Compositions and Molded Articles. The innovative elastomer technology was developed by a team that included inventor Ron Campbell, PhD, Principal Scientist and Technology Leader for Elastomers in Greene Tweed’s Advanced Technology Group, to provide a competitive advantage in the Energy market and expand technology protected under a previous patent. Rapid gas decompression (RGD) often occurs when high-pressure gas molecules migrate into an elastomer at a compressed state. When the pressure surrounding the elastomer is suddenly released, the compressed gas inside the elastomer tries to expand and exit the elastomer, thus causing RGD (also known as explosive decompression). Most elastomers experience severe blistering or cracking when the force of these expanding gases overcome the strength of the surrounding material; however, materials engineered to withstand RG
Morinaga Milk Study Suggests Infant-Type Human-Residential Bifidobacteria May Benefit Infant Health by Improving Digestion of Peptides in Milk and Grains23.10.2018 21:00 | Tiedote
Scientists at Morinaga Milk Industry Co., Ltd. (TOKYO:2264) have long theorized that Human-Residential Bifidobacteria (HRB) are superior to non-Human-Residential Bifidobacteria (non-HRB) in promoting good health outcomes. The results of a new study strengthen the evidence for this theory, showing that infant-type HRB may be able to break down incompletely digested peptides in the infants’ gastrointestinal systems and thus contribute to their overall health. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181023005015/en/ Fig 1. Food-derived opioid peptides are potential risk factors for human health (Graphic: Business Wire) Human-Residential Bifidobacteria for Humans Morinaga Milk has been conducting research on bifidobacteria for many years, and studies over the past decades have shown that bifidobacteria play a vital role in various aspects of human health. There are two major groups of bifidobacteria: Human-Residential Bif
myPOS Founder Christo Georgiev Announces Two Upcoming myPOS Stores in Barcelona and Paris23.10.2018 19:22 | Tiedote
Christo Georgiev, fintech entrepreneur and founder of myPOS, has confirmed his intention to open two new flagship stores in major European cities by the end of the year. The opening is part of an initiative to bring the product closer to potential customers, giving them a hands-on experience and a live demonstration of what myPOS has to offer. The two new stores will be opened in Barcelona, Spain and Paris, France – two of the most important markets for myPOS. “Our Spanish and French customers have always placed a tremendous amount of trust in us, and we in turn have worked hard to justify it,” Georgiev says. “Opening physical locations in Barcelona and Paris is an extension of that relationship. It’s important to test a product with your own hands before you choose to trust it, and if that’s true for TVs and phones why can’t it apply to POS terminals?” The Barcelona store will open as soon as November, followed shortly by the Paris one before the end of the year. myPOS has already ope
Christo Georgiev Announces the Arrival of myPOS AppMarket23.10.2018 19:11 | Tiedote
myPOS Europe Ltd., a leading card payments provider to small and medium-sized businesses in Europe, is introducing its own AppMarket – an innovative software platform for business applications that allows myPOS clients to find, download and use various apps for improved business performance. The development of myPOS AppMarket was driven by the necessity to meet the ever-changing business needs dictated by customer demand and behaviour. While the payment terminals myPOS offers come with a large number of innovative payments features, there are other business needs which remain uncaptured at the moment. myPOS founder Mr. Christo Georgiev says: “Individual businesses need a tailored approach when it comes to accepting payments for their services. Offering a fully customizable and complete omni-channel payments solution, which empowers businesses to stay agile, has always been in our foresight. Tapping into the familiarity of our everyday favourite device – the smartphone, pushed us even f
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme