[Funding alert] SaaS startup Chargebee becomes unicorn after raising $125M in Series G round
The round was led by Sapphire Ventures, Tiger Global, and Insight Venture Partners. The company said the funding will allow Chargebee to expand its global footprint and further add to its partnership network.
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$125 million in series G funding, co-led by new investor
Sapphire Ventures and existing investors
Tiger Global and
Steadview Capital.
The company said
the new round of funding will allow Chargebee to expand its global footprint and further add to its partnership network. Chargebee is now valued at $1.4 billion, which triples its valuation in less than six months.
Chargebee valued at $1.4 billion in new $125 million fundraise
A startup that enables businesses to set up and manage their billing, subscription, revenue operations and compliance has become the newest firm to earn the much coveted unicorn status.
Chennai and San Francisco-headquartered Chargebee said on Tuesday it has raised $125 million in its Series G financing round led by Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners.
The new financing round valued the 10-year-old startup at $1.4 billion, a 3x increase since the Series F round six months ago. Some other existing investors also participated in the new round, said Chargebee, which has raised $230 million to date.
India: Chargebee enters unicorn club after $125m fundraise from Tiger Global, others
Photo: Unsplash
April 20, 2021
Chennai- and San Francisco-headquartered subscription, billing, and revenue management platform Chargebee has entered the unicorn club after raising $125 million in a Series G funding, co-led by new investor Sapphire Ventures and existing investors Tiger Global and Insight Venture Partners.
The round also saw the participation of Steadview Capital, another existing investor, per a company announcement.
Chargebee is now valued at $1.4 billion treble that of less than six months ago.
With the fresh capital, Chargebee plans to further invest in its product to help businesses scale their subscription revenue operations seamlessly from startup to IPO. The company also announced that it will allot more for its global expansion, and key partnerships.
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SaaS startup Chargebee is the 11th unicorn of 2021 and the sixth for Tiger Global this year alone
SaaS startup Chargebee is the 11th unicorn of 2021 and the sixth for Tiger Global this year alone
Sanchita DashApr 20, 2021, 18:24 IST
Chargebee founders Krish Subramaniam, Co-founder and CEO, Rajaraman Santhanam, Co-founder and COO, Saravanan KP, Co-founder and CTO, Thiyagarajan T, Co-founder and Architect Chargebee
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.
Chargebee s valuation triples to $1 4 bn in 6 months, raises $125 mn business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.