Chargebee enters the Unicorn club by raising $125 million funding
The financing round was led by New York-based growth equity firm Argentum Capital Partners IV. Impact Analytics offers AI-driven SaaS solutions that optimise forecasting, planning, and merchandising functions for retailers and packaged goods manufacturers.
Speaking about the funding, Prashant Agrawal, Impact’s CEO, said, “We look forward to working with Walter and Argentum and leveraging their domain knowledge and experience investing in retail tech. Argentum is known for their expertise in partnering with bootstrapped companies to accelerate growth, and with their investment, we will build our sales team, expand our product development team and increase the market reach of our products.”
The new capital comes from successful bootstrapped SaaS founders like David Hauser, Bill Boebel, Dan Martell, who all know the power of keeping equity.
"We've raised this fund now because other providers seem to be moving upstream to enterprise and ignoring the needs of Bootstrapped SaaS founders," says founder Nathan Latka. "We're seeing incredible demand. 1,500 SaaS founders have connected to Founderpath. Founders with just $10k in monthly recurring revenue can use Founderpath to grow to $10m, keep 100% equity, and focus on product and customers instead of fundraising."
Founderpath was launched in 2019 as a way for bootstrapped SaaS founders to get capital without selling equity. The company integrates with Stripe, Recurly, Chargebee, Chargify, Profitwell, Plaid, Quickbooks, and Xero to analyze the strength of a SaaS company.
Plume is a software-as-a-service platform for communications service providers. The company’s platform serves connected homes, delivering features like optimum Wi-Fi, parental controls and motion sensing to smart home residents while giving communication service providers back-end applications to provide support.
The company plans to use the new funding to earn more customers by focusing on partnerships in the service provider ecosystem and investing in research and development. The Series E round was led by Insight Partners. Plume last raised money with an $85 million Series D in February 2020, according to Crunchbase.
Chennai-based enterprise tech startup Chargebee is close to raising $150 Mn at a valuation of $1.4 Bn, as per news reports. The company is said to be raising the funding from a US-based investor, with existing backers Tiger Global, Steadview Capital and Insight Partners.
The company offers an automated subscription billing management platform that integrates with payment gateways to seamlessly automate collections from customers, send invoices and notifications, real-time analytics and customer management.
Last year, the startup had raised $55 Mn in Series F round at a valuation of $500 Mn. Chargebee could soon be joining other SaaS unicorns Zoho, Freshworks, Icertis, Druva, Postman and Zenoti.
Series A funding led by Wing Venture Capital brings the total raised to $15 million. The financing was led by Wing Venture Capital together with the company's existing investors Entree Capital, Global Founders Capital, Scopus Ventures and Uncork Capital. Wing VC Partner Jake Flomenberg is also joining Torii's Board of Directors.
The funding will be used to automate software management in the enterprise. Torii developed the world's first Automated SaaS Management platform for the enterprise. Torii helps companies discover, optimize and automate their software usage, spend and compliance.
Existing investors Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and M12 (Microsoft’s Venture Fund) participated in the round along with new investor OMERS Growth Equity. The company has so far raised $225 million across multiple rounds, the last being a $70 million Series C round in February 2020.
The software-as-a-solution (SaaS) platform helps connect healthcare data across multiple systems and settings, providing unified patient records through the data activation platform.
Innovaccer will utilise the capital to launch Innovaccer Health Cloud, combining its data activation platform and allowing providers and partners to develop interoperable third-party applications on it for better patient engagement and outcomes.
The financing was led by Team8 and existing investors Blumberg Capital and LionBird Ventures. The investment will spur product development to support FundGuard’s partnerships with several of the world’s largest fund administrators and asset managers in addition to meeting increasing demand from alternative funds and insurance companies.
“The industry is ripe for disruption with legacy market infrastructure for investment management struggling to support today’s volumes, complexity of assets, and need for efficiency given the continued fees pressure. There is growing demand for a fully automated, scalable solution that improves operational efficiency and dramatically reduces costs. Our AI-powered, cloud-native platform enables banks, asset managers, and fund administrators to drive efficiencies and enhance transparency by providing a real-time, single source of truth for funds.” said Lior Yogev, FundGuard CEO and Co-Founder.