Chargebee, a billing and revenue management platform, today announced a fresh round of $125m in series G funding, co-led by new investor Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners, along with participation from existing investors.
With this round of funding, Chargebee is now valued at $1.4bn, a three-times growth in valuation since their previous round of funding less than six months ago.
The pandemic in 2020 has accelerated the already growing global shift to SaaS and subscription-based business models from cars to coffee providers moving into a recurring revenue stream resulting in a 12% expected CAGR over the next five years.
As a core revenue enabler for thousands of subscription businesses, Chargebee’s rapid growth has further been spurred by its fast time-to-value, and long-term investment in customer growth. Even large global enterprises are able to go live leveraging a subscription model with Chargebee in as little as less as 10 days.
“Today we are able to roll out a new pricing experiment in 30 minutes and converge on the right pricing point that suits our customer segments, said Paul Kapsner, Director of Finance at a superfoods company and a long-term customer of Chargebee. “Chargebee has given us the freedom to make mistakes, and then fix them right away.”