Funding

ChargeBee, the Subscription Startup Raises $5M in Series B Funding

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What does ChargeBee do?

Chargebee, is a Chennai based startup which helps companies manage their billing and subscription needs. It is an online subscription and recurring billing management system for web apps and SaaS for small and medium businesses.

With the Subscription businesses expanding worldwide and the businesses needing more options and flexibility to manage varied billing cases. ChargeBee focuses on delivering the best experiences to provide a seamless recurring billing experience to the customers and manage the customer subscription.

How much ChargeBee was funded?

ChargeBee raised $5 M in Series B funding on March 3rd, 2015 by Accel Partners and Tiger Global Management.

Previous funding

  • $370 K in Angel funding on October 1st, 2012.
  • $800 K in Series A funding on January 13th, 2014 by Accel Partners.

What is next for ChargeBee?

ChargBee will be using the fund for setting up satellite offices in Australia, U.K and U.S.A, with Chennai as its base, with 37 staff members. The startup also plans on doubling its team of engineers for developing extra value added services like the advanced analytics, for its customers.

Speaking on this development, Krish Subramanian, CEO an

 

More about ChargeBee

This starup was found in 2011 by, KP Saravanan, Thiyagarajan T, Krish and Rajaraman S.  This startup is focussed on helping the companies in the SaaS space, to get more from their billing subscriptions. Its customer base includes Kissflow, Soylent, Freshdesk and VinylMePlease. It also consists of companies in the Asia Pacific, Europe and U.S.A.

 

ChargeBee, is at present processing $100 M in the annual transactions for its consumers. It has plans to scale with focus on the high growth startups, instead of large organizations, for many reasons such as short production adoption cycles and the fact that growing companies mean growing revenue for 3rd party service providers such as ChargeBee. It helps startups focus on building the startup’s product by automating everyday billing use cases and remove the hardships out of subscriptions businesses.

 

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