Investments, News

Chargebee raises USD 800 K from Accel Partners in Series A funding

ChargebeeChargebee, a subscription billing startup has recently raised USD 800 K in Series A funding from Accel Partners. The raised funds will be used in further improvement of company’s sales team in US and in product development.

 Previously, it has raised seed funding of USD 370 K in 2012, making the total funding raised till date to be USD 1.17 Mn.

 This Chennai and US based startup was founded in 2011 by ex-Zoho architects and product managers, viz. Krish Subramanian, KP Saravanan, Thiyagarajan T and Rajaraman S.  With its plug-and-play capability, businesses can automate billing, invoicing and leverage transactional emails to improve communication with their customers.

Here is a video explaining how Chargebee exactly works:

It currently supports major payment gateways such as Authorize.Net, Braintree, Stripe, PayPal, eWay, Pin Payments and others. The clients include brands such as Freshdesk, HealthcareMagic, and many more.

According to reports, the cloud billing market is expected to reach $9.58 billion in 2018 from $2.4 Bn in 2013, thus offering great opportunity in the space. In India, the other players in this field include WebEngage, Wingify, Knowlarity wherein Knowlarity was recently in news for acquiring Unicom Techlabs.

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