The funding round values ReCharge at $2.1B. Here are the top-line bullets you need to know.
ReCharge, an e-commerce subscription management software provider, has raised $277M in a Series B with participation from Summit Partners, Bain Capital Ventures, and Iconiq Growth.
How’s the company performing?
- California-based ReCharge provides e-commerce merchants with a subscription management platform for physical products. They aim to convert clients making one-time transactions into repeat customers.
- ReCharge’s ARR and revenue grew by 146% and 136%, respectively, in 2020.
- The company reportedly has 20M subscribers across 180 countries and 15,000 customers, including Native, Hubble, and Lola, among others.
- ReCharge processed over $3B in gross merchandise value (GMV) during the last year.
- ReCharge has 328 employees across 10 countries, a growth of more than 2x from January 2020.
Why does the market matter?
- The subscription and billing management market is growing at a CAGR of 14% and is expected to reach $7.8B by 2025, according to Markets and Markets.
- Big players like P&G, Sephora, Walmart, Xbox, and PlayStation are adopting subscription models, driving growth in the space. There has also been significant M&A activity, with Unilever acquiring Dollar Shave Club for $1B and Albertsons acquiring Plated for over $200M.