The pandemic has created massive opportunities for the entire subscription business market. More businesses today are utilising software-as-a-service (SaaS) solutions to enable remote work, while consumer demand for subscription services in e-learning, entertainment, and utilitarian deliveries have skyrocketed, reported Chargebee – a subscription billing and revenue operations platform.
According to MarketsandMarkets, the global subscription & billing management market size is expected to grow from $4B (approx €3.3B) in 2020 to $7.8B (approx €6.6B) by 2025, at a Compound Annual Growth Rate (CAGR) of 14.0% between this period.
Raises Series F
Now, with plans to capture the global businesses – that are turning towards the subscription-based model, Chargebee has raised $55M (approx €46.6M) in its Series F round of funding. The round was led by Insight Partners.
Existing investors Tiger Global, Steadview Capital, and Accel Partners also participated in this round. With this, the company has raised a total capital of $105M (approx €89M) to date.