Chargebee raises $250 Mn led by Tiger and Sequoia at $3.5 Bn valuation

Chargebee, a subscription management and recurring billing platform, has raised $250 million in its Series H round at a valuation of $3.5 billion. The latest round was co-led by Tiger Global and Sequoia Capital, with participation from Insight Partners, Sapphire, and Steadview Capital.

This is a 2.5X jump in Chargebee’s valuation within 10 months. The Chennai and San Francisco-based company had raised $125 million in its Series G financing round led by Sapphire Ventures at a valuation of $1.4 million in April. The company has raised $470 million to date.

Chargebee plans to use the fresh funds for product innovation and global expansion as well as strategic corporate growth initiatives, said the company in a press statement.

Founded in 2011 by Subramanian, Saravanan KP, Rajaraman Santhanam and Thiyagarajan T, Chargebee manages revenue operations for subscription-based businesses for startups and larger enterprises.

The company enables SaaS, e-commerce and subscription-based businesses to manage and grow their revenue by automating subscriptions, billing, invoicing, payments processes and it also provides key reports, metrics and insights into their subscription business. Its subscribers include Freshworks, Calendly and Doodle.