Chargebee, a SaaS subscription management and recurring billing solution, has secured $18 million in growth capital, led by New York-based Insight Venture Partners. The Series C investment also included participation from previous investors Accel Partners and Tiger Global Management.
Chargebee offers a payment gateway-agnostic subscription billing solution, complementing gateways such as Stripe, Braintree, PayPal, Adyen and many others. Chargebee powers the recurring revenue engines of B2B and B2C services across multiple industry verticals like SaaS, digital media, ecommerce, and IoT. According to the company, it has scaled to support more than 7000 customers in 53 countries since its founding in 2011.
The new capital will be used for increased investment in product R&D, sales, marketing and growth.