Chargebee, a subscription management startup, based out of Chennai, has secured $14 million (approx ₹100 crore) funding in a round led by Steadview Capital. While, Insight Venture Partners and Accel Partners also participated in the round.
The platform said it will utilise the funds to fill gaps in the subscription management ecosystem and to upscale automation in this field, to support business revenue operations.
With this investment, the company has raised funds of $38.2 million (₹274 crore).
“Enterprises and rising startups recognize the value of subscription businesses. Unlike transactional revenue models, subscriptions require companies to evaluate longer-term metrics and redefine Key Performance Indicators for success,” said Krish Subramanian, co-founder, and CEO of Chargebee.
Chargebee was founded by Krish Subramanian, K.P. Saravanan, Rajaraman S. and Thiyagarajan T. in 2011. It currently offers a payment subscription billing platform, which is compatible with other global payment networks and gateways such as Stripe and PayPal.
The platform is an automated subscription billing software platform that integrates with payment gateways to automate payment collections, invoicing, email notifications and customer management.
Its latest product updates enable clients to optimise revenue operations, compliance and revenue recognition. The company claims to cater to 1800 businesses across 53 countries, with three offices in the US and Amsterdam.