We Just Raised $18 Million in Series-C Led by Insight Venture Partners

I’m excited to share that we have raised $18mn in our Series-C round led by Insight Venture Partners, with participation from our existing investors – Accel Partners and Tiger Global Management.

Insight Venture Partners is based out of NYC. They are an active investor in a number of companies that we look up to, including Shopify, NewRelic and Wix. We are excited about partnering with them. Here’s how Harley Miller, VP at Insight Venture Partners, summed up his thoughts for leading this round.

“Chargebee delivers a broader and deeper subscription billing management solution built for both non-technical business users as well as developers. As a firm, we are long on recurring revenue businesses. Chargebee is poised to capitalize on this trend, as its solution is both robust and easy to use for SMB and enterprise clients alike. We are very excited to partner with such a highly talented, ambitious team.”

Four and half years ago, our first customer made the choice of adding a layer of separation between their product and payments by using Chargebee’s billing intelligence. Today that choice, along with thousands of others’, stands validated more than ever.

Thank you, for trusting us.

Today, we are a team of 135+ operating out of offices in Chennai and San Francisco, with 7000+ customers at different stages of growth, across 50 countries.

Our growth is a testimony to the promise of  the subscription world we operate in. And as enablers of the subscription model, we are uniquely placed to power your businesses – small, medium or enterprise.

It gives me particular satisfaction to have played the role we did in helping early stage startups in the past 2 years. In February, 2016, when we rolled out our freemium model, it was to make a case for small businesses to begin billing with us instead of building an engine themselves. The results have been unprecedented:

• We helped process over $65 Million USD of Invoices by early stage companies for free.
• We paid-forward ~$1 Million USD in doing this, which stands dwarfed in comparison to the impact of these global businesses that are being built with Chargebee.

This wouldn’t have been possible without the support of all the paying customers of Chargebee. They’ve been quick to adopt as we rolled out new features, provide us with valuable feedback on the most minute of details and be active partners in our growth. Thank you.

And, in the process of obsessing over all the finer details of billing and payments for businesses that deeply care about customer experiences, we identified two gaps that Chargebee need to fill.

1. Delivering great experiences is not one person’s job. It takes a team. Chargebee should enable your entire team irrespective of what function/expertise they hold.
2. Billing systems need to enable relationships, not just subscriptions. Chargebee should help you forge stronger customer relationships and not just be transactional in nature.

These realizations continue to define our product roadmap as we build the best billing system for the modern business users.

This investment is a shot in the arm for Chargebee to reimagine billing systems, and build out the product and service that enables both businesses and in turn, their customers.

That said, business is as usual, and we’ve miles to go before we rest, but I wanted to take these five minutes to pause and reflect, and share with you, what this day means to us. And to reiterate to ourselves and to you, why we continue to do what we do.

We’re next door to you, and should you need us, whenever you need us, our boundary with you is only the distance of an email or phone call.

As a founder, I am very proud of the team we have built. Congratulations to all the folks at Chargebee, our customers and well wishers. Thank you!