Creating a successful SaaS company involves more than building the right product and go-to-market strategies. A lot of work needs to be done around how the SaaS business handles the complexities of localising checkouts, billing different types of customers, managing payments, remaining compliant with global regulation, and much more.
A lot of companies are shifting their focus to a third powerful growth lever – revenue delivery – to drive hyper-scale growth by optimising Net Dollar Retention (NDR).
However, the existing revenue delivery infrastructure isn’t ready for today’s software companies, and businesses are stuck trying to force-fit integrations. And this is where Paddle’s Revenue Delivery Platform for B2B Software-as-a-Service (SaaS) companies comes into play.
Based out of London, Paddle offers software companies a single platform for the entire software sales process, helping them run and grow their business.
Raised €58M funding
Recently, the company raised $68M (approx €58M) in Series C funding, led by FTV Capital, a growth equity investment firm. Other investors, including Kindred Capital, Notion Capital, and 83 North participated in the round as well. To date, Paddle has raised around $93M (approx €78.4M).
The funding will be used for continued expansion in the US and globally, as well as further investments in the company’s product, engineering, sales, and marketing teams.
Paddle’s Revenue Delivery Platform
Founded in 2012 by Christian Owens and Harrison Rose, Paddle was established with a vision to provide a complete solution to help software companies sell their products.
Christian Owens, CEO, and co-founder of Paddle says: “The beauty of the SaaS model is that if you build a great product, you can sell it to anyone, anywhere in the world. Unfortunately, it is rarely that simple. We created Paddle because we’ve seen first hand the things that limit the growth of a SaaS company often have very little to do with the quality of your product.”
The company claims its Revenue Delivery Platform makes it easy for SaaS companies to respond faster and more precisely to every growth opportunity for their business.
According to Paddle, it integrates checkout, payment, subscription management, financial compliance, new offerings, and renewals, in a single unified platform.
Christian Owens, says, “Dealing with payments, managing subscriptions, localising checkouts in multiple languages and handling tax and compliance across dozens of markets is hugely complex, and each of these challenges makes it harder for businesses to scale quickly. Our Revenue Delivery Platform has been built to remove all of this friction for B2B SaaS companies, empowering them to increase NDR by responding faster to every growth opportunity.”
According to Paddle, this approach to revenue delivery empowers CEOs to make informed business decisions quickly and frees up teams to focus on the core business rather than operational headaches. Also, using Paddle enables businesses to optimise NDR and deliver business impact that outperforms expectations.
Growth of over 175%
The company has recorded an average annual revenue growth of over 175% over the last four years and doubling in the last year alone. Right now, the UK company has 140 talented employees serving over 2,000 software sellers in 245 countries and territories globally.
Main image credits: Paddle
