Unicorns in the nation are increasing day by day.
The list is getting exhaustive and is helping the nation cater to a lot more requirements on a general basis.
Recently’ there has been a recent addition to that list in the form of billing start-up Chargebee. The company has been able to conduct its recent funding round and managed to enter the club. Let’s get inside to know more details.
MORE ABOUT CHARGE BEE
It is a subscription billing & revenue management platform based in Chennai. It in simple terms is a Software as a service company. It was incepted by four friends; Krish Subramanian, Rajaraman Santhanam, Saravanan KP and Thiyagarajan T. The common products offered are:
- Subscription Management
- Accounting & Taxes
- Billing Automation
- Reporting & Analytics
- Recurring Payment
The customers of company are businesses of all sizes ranging from Freshworks to Linux academy to Slidebean. Company’s portfolio of customers has huge as well as middle sized enterprises. The prominent investors in the company are Accel, Tiger Global, Steadview Capital Management, Insight Partners and Sapphire Ventures.
The company has been able to add enterprise capabilities in terms of various areas like usage billing
INSIGHT INTO FUNDING
The company has recently concluded its Series G round.
The amount raised was $ 125 million in which Sapphire investors entered the company while participation was also of other existing investors. Now; the total funding in part of the venture is at $230 million.
The valuation stands at $ 1.4 billion which is exactly triple in less than 6 months of previous funding round.
The co-founder Krish Subramanian also stated that “Chargebee is committed to spearheading this movement towards a subscription-first world by helping our customers realize rapid value, and being an integral partner in their long-term growth journey.”
Rajeev Dham; the new partner also expressed his excitement by saying that their association would definitely help them to build a great leading space in the market of revenue & billing.The plans ahead are to scale up the customer base by providing more innovation & pricing experiment products.
ENTRY INTO UNICORN CLUB
Unicorn Club in India has been the most entered club in the past 4 months. Having a list of 52 new companies; the club is expanding at a fast & rapid pace. More than 10 companies have just entered in the past month underlining the fact that by the year 2025; the number would be past 100.
Subscription based services are growing at a very fast pace & growth rate of about 14%. The market also gives high & lucrative opportunities in the near future as not only businesses their revenue models need to hold a dynamic space in the entire process.
Therefore; this entry would now make things go more strictly towards the target of reaching more businesses to get benefitted from innovative solutions.