Chargebee, a Chennai, India, and San Francisco, CA-based provider of a SaaS subscription management and recurring billing solution, secured $18m in Series C funding.
The round, which brings total funding to $24.7m, was led by New York-based Insight Venture Partners with participation from previous investors Accel Partners and Tiger Global Management. In conjunction with the funding, Harley Miller, Vice President at Insight Venture Partners, will be joining the board.
The company intends to use the capital for increased investment in product R&D, sales, marketing and growth, to expand into newer markets and segments.
Founded in 2011 and led by Krish Subramanian, Co-Founder & CEO, Chargebee provides solutions for businesses to manage their billing, payments, subscriptions, security, compliance, and invoicing services.
The company, which currently supports 7000+ customers in 53 countries, offers a payment gateway agnostic subscription billing solution, complementing gateways like Stripe, Braintree, PayPal, Adyen and many others and powering the recurring revenue engines of B2B and B2C services across various industry verticals like SaaS, Digital Media, eCommerce, and IoT.