SaaS startup Chargebee is the 11th unicorn of 2021 and the seventh for Tiger Global this year alone
- The Chennai and California-based startup has hit a valuation of $1.4 billion – almost three times up from its previous valuation of $500 million in October last year.
- The series G round was led by new investor Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners.
Chargebeehelps businesses automate their subscription, billing, invoice and payments, and has clients across 60 countries.
AdvertisementChargebee, a billing and revenue management startup, has raised $125 million in a series G round led by new investor Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners. The round also saw participation from another existing investor Steadview Capital.
With this, the Chennai and California-based startup has hit a valuation of $1.4 billion – almost three times up from its previous valuation of $500 million in October last year. The 10-year old startup has so far raised $230 million.
With this, Chargebee has become India’s 11th unicorn in 2021, and seventh in Tiger Global’s kitty from this year. New York-based Tiger Global already backs 20 unicorns in India.
Chargebee helps businesses automate their subscription, billing, invoice and payments, and has clients across 60 countries. The startup said that the funding will help it expand its global footprint and clientele.
“Businesses today need to quickly respond to evolving customer needs, compliance requirements, and market pressures in real-time. More than ever before, businesses need their subscription revenue platform to be the reliable system of record that enables them to rapidly scale their revenue processes,” said Krish Subramanian, co-founder and chief executive officer at Chargebee, in a statement.
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