The funding helps the company’s valuation hit $300M. Here are the top-line bullets you need to know.
RevenueCat, an in-app mobile subscription platform, has raised $40M in a Series B with participation from Oakhouse Partners, Index Ventures, Y Combinator, FundersClub, and SaaStr Fund, among others.
How’s the company performing?
- RevenueCat provides a platform for a subscription-based apps that provides companies with a software development kit to build and maintain subscription apps on IOS and Android.
- Developers have access to real-time key metrics like revenue, conversions, lifetime value, and churn, which can be integrated with tools like Apple Search Ads, Facebook Ads, Google Cloud Intercom, and Amplitude, among others.
- The company processes over 450M API requests per day and $1B in-app purchase revenue per year.
- Over 6,000 apps have used the company’s platform, including Buffer, Notion, Zero, and Cameo.
source: RevenueCat
Why does the market matter?
- The in-app purchase market is expanding at a CAGR of 19.8% and is expected to reach $340.8B by 2027, according to Allied Market Research.
- The shift towards an increase in the number of smartphone users, technological advancements, and a greater focus on subscription models during the ongoing pandemic have boosted the growth of the industry.
