Sequoia, Tiger Global lead $250m round of subscription SaaS unicorn

Chargebee, a subscription management platform, has raised US$250 million in a funding round led by Tiger Global and Sequoia Capital.

Existing investors, including Insight Partners, Sapphire, and Steadview Capital, also took part in the round, which follows a series G round in April 2021 that propelled Chargebee into unicorn territory with a US$1.4 billion valuation.

Chargebee founders (From left): Krish Subramanian, Rajaraman Santhanam, Thiyagarajan T, and Saravanan KP / Photo credit: Chargebee

Chargebee manages revenue operations for subscription-based businesses, ranging from early-stage startups to larger enterprises, including Freshworks, Calendly, Doodle, and Pret A Manger.

Chargebee recently expanded its offerings to build a unified revenue management platform by acquiring RevLock, which helps in revenue recognition, and Brightback, which helps reduce churn and in retention.

Chargebee has also expanded globally, with new offices and investments in Australia and India, and partnerships with industry leaders including GoCardless, Salesforce, Hubspot, and PayPal.

Chargebee was founded by ex-Cognizant employee Krish Subramanian, and former Zoho employees Rajaraman Santhanam, Saravanan KP, and Thiyagarajan T.

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“We built Chargebee to solve infrastructure issues facing high-growth subscription businesses with a product roadmap laser-focused on replacing in-house systems orchestrating the complex parts of revenue intelligence like billing and payments,” said Krish Subramanian, CEO and co-founder of Chargebee.

With the latest round, the company has raised a total of US$470 million to date.

The company will use the fresh funding to develop its product, expand internationally, and for strategic growth initiatives.