Chennai-based startup, ChargeBee, that helps companies manage their billing and subscription needs, has raised $5 M in Series B round of funding from Tiger Global & Accel Partners.
The company is expected to use the latest round of investment to expand its engineering and customer support team to accelerate their product roadmap.
Accel Partner is an existing investor in ChargeBee and had invested $800,000 in a Series A funding in the company last year.The company had also raised $370K in seed funding during October 2012.
“Billing is an amazing opportunity for conversation with customers but also a point of friction if not done well. In a subscription based business model it becomes crucial to deliver amazing customer experience in billing as much as your product and we focus on delivering this on top of global payment gateways like Stripe & Braintree,” said ChargeBee CEO and co-founder Krish Subramania.
Founded in 2011, ChargeBee is focused on helping startups, and particularly those in the Saas space, get more from their billing subscriptions. Freshdesk, Kissflow, Soylent and VinylMePlease are some of the customers the company works with.
“ChargeBee has built amazing relationships with their customers that stand above everything else in the market. We believe their focus on engineering to build a great platform complemented by this level of customer service is a tremendous opportunity to serve the next generation of globally relevant SaaS businesses,” said Shekhar Kirani of Accel Partners.