• Chargebee, an infrastructure platform for businesses to manage their billing and subscriptions, has raised USD 250 million in funding co-led by Tiger Global and Sequoia Capital with participation from Insight Partners, Sapphire, and Steadview Capital. 

• The funding comes less than a year after the company raised USD 125 million in Series G funding (April 2021) and values the company at USD 3.5 billion (2.5x higher than its valuation in April). The round also brings the company’s total raised funds to USD 470 million.

• The funds will be used for product innovation, global expansion, and to set up strategic corporate growth initiatives. 

• The company noted that over the past 12 months, its annual recurring revenue (ARR) grew by over 100%. 

<ul><li> Analyst QuickTake: Chargebee offers a competing service to its listed peer Zuora, who also offers an infrastructure platform for enterprises to manage their online subscribers. With this round, Chargebee surpasses Zuora’s valuation, as the latter had a market cap of USD 2.1 billion as of the close of trade on February 1.</ul>