Billing startup Chargebee raises $125 million in funding, valued at $1.4 billion

Chargebee Inc., a startup that helps enterprises with subscription billing and revenue management, raised $125 million in funding and boosted its valuation to $1.4 billion, reaching so-called unicorn status for the first time.

The round was led by existing investors Tiger Global and Insight Venture Partners and new baker Sapphire Ventures, along with participation from earlier investor Steadview Capital. The infusion will help the company scale globally as customers hasten their shift to subscription-based services, Chargebee said in an announcement on Tuesday.

“The pandemic has accelerated the shift to software-as-a-service subscription models,” Krish Subramanian, co-founder and chief executive officer, said during a Zoom call. “Every business from streamed content to e-commerce to e-learning has become subscription-based, needs global pricing and recurring billing systems.”