ChargeBee, a Subscription Billing Solution for Online Businesses (SaaS and Retail), today announced that it secured $350 K funding from a group of Private Angel Investors. Investors include senior executives working in large enterprises and a few entrepreneurs. ChargeBee has acquired more than 100 Private Beta users to date, out of which 11 of them have gone LIVE with the billing system.
The company was set up in June 2011 by four friends, who believed that “Subscription is a long term relationship and it is not just monthly payments. They believe more and more businesses are embracing this business model and the shift has already begun.
“ChargeBee is in Beta for the last 7 months and we’ve built a solid framework that is secure and scalable to deliver subscription billing on the cloud” said Krish Subramanian, CEO and Co-founder of ChargeBee. “Some of our early customers were instrumental and with their help we built and designed a simple, yet powerful online billing system. With ChargeBee, businesses can automate – Recurring Credit Card Billing, Invoicing, track Growth Metrics and Communicate with your customers without a pain. The best part is ChargeBee is readily integrated with 30+ payment gateways worldwide” he added.
Krish has worked with enterprise-level customers in the software and services industry for more than 10 years. Saravanan (KPS), Rajaraman and Thiyagarajan are former Zoho employees with more than 12 years of experience in Product Management.
“The challenge is to deliver an easy-to-use billing solution with clear value and unrivalled support because our success lies in the success of our customers” said Krish. “Our customers love us for 2 main reasons – API and Support. We strongly believe that a billing system should not inhibit the growth of a business and should be flexible enough to support newer pricing models or innovative promotions. Businesses should dictate terms to the billing system not vice-versa” he added.
ChargeBee is a SaaS company and the pricing varies from $49 per month to $249 per month. Pricing scales gracefully as you grow your business. The company also promises to keep your pricing protected for 2 years, if they revise their pricing.
Utilizing these funds, ChargeBee, Chennai based Start-up plans to unveil a slew of new features, invest in operations and to expand across verticals which includes SaaS, Digital Media and Retail Subscription Commerce.
ChargeBee is also a Tech30 comapny