Cloud Segment: SaaS
Type of App: Billing and Subscription Management
Founders/Management: KP Saravan, S Rajaraman S and T Thiyagarajan T, S Krishnamoorthy
Co-founded by former employees of Zoho, one of India’s first stars in the CRM and cloud space, Chargebee’s business model seems to have arrived at the right time in a world where almost everything seems to require a subscription, from online television to digital newspapers and magazines.
Yet for companies who dole out these subscriptions, managing things like billing can be a distracting affair, especially if you cater to a fast-growing, diverse, global client list.
Chargebee’s system helps these beleaguered companies by automating a big chunk of the back-end processes in the world of billing, such as invoice generation, payments collection, follow-ups, and discount management for sales and marketing teams. By doing so, client companies are freed up to concentrate on core functions—where sales and marketing departments, for instance, can now immerse themselves in special promotions, secure in the knowledge that Chargebee’s system is enabling accurate and speedy responses to billing issues and queries.
The company has partnered with 30 payment gateways such as Braintree, Stripe, and authorize.net, and says it has customers from 10 countries including Australia, US, UK, and Canada. Chargebee has raised around $800,000 in a Series A funding from Accel Partners, bringing its total to date to $1.17 million.