BackBack Chargebee valuation jumps 2.5X on securing $250 mn from Tiger Global, Sequoia, others

Chargebee, which runs a software-as-a-service-based subscription management platform, on Tuesday said it has raised $250 million in a funding co-led by Tiger Global Management and Sequoia Capital, that pushed up the company’s valuation by 2.5 times to $3.5 billion. The round also saw participation from existing investors, including Insight Partners, Sapphire and Steadview Capital.

Chargebee, operated by Chargebee Technologies Pvt Ltd, has so far raised $470 million with the latest fundraise. It last raised $125 million at $1.4 billion valuation in April 2021. The company plans to use the fresh funds for product innovation and global expansion to support the billing and revenue needs of current and future subscription businesses, as well as strategic corporate growth initiatives. Chargebee claimed it has been witnessing a demand spike in Growing Subscription and SaaS businesses. Quoting a UBS financial services report, Chargebee said the subscription economy will grow to $1.5 trillion by 2025, and will thus give the company an opportunity to expand its customers globally.