ChargeBee plans to use the funding to expand its global operations and invest in product innovation. Here are the top-line bullets you need to know.
ChargeBee, a subscription management platform, has raised $250M in Series H funding. The round drew participation from Tiger Global Management, Sequoia Capital, Insight Partners, and Sapphire Ventures, among others.
How’s the company performing?
- California-based ChargeBee automates revenue operations for big and small subscription-based businesses.
- The company caters to more than 4K businesses including brands such as Okta, Freshworks, Doodle, and Study.com.
- The company integrates with over payment networks such as PayPal and Stripe, and it currently works with global payment options in more than 100 currencies.
- ChargeBee has offices in California and Amsterdam.
Source: ChargeBee
Why does the market matter?
- The global subscription and billing management market is projected to reach a value of $14.2B by 2026, growing at a CAGR of 14.2%, according to Infogence Global Research.
- Amid changing consumer preferences, the increasing adoption of subscription business models is driving the market’s growth.
- The rising need to reduce subscriber churn rates by enterprises is also contributing to the growth of the market.
