Saas based subscription billing platform for small and medium enterprises ChargeBee on Monday said that it has raised $800,000 in Series A funding from Accel Partners.
The round was closed in October
2012 2013. Last year, the company announced an investment of $370,000 from Accel. TechCrunch wrote about the deal earlier today (we believe that it’s important to set the right context when it comes to funding announcements).
The company’s co-founder Krish Subramanian wrote in an email to NextBigWhat that it plans to to double down on its efforts in North America and set up local support. The company also hired a business develop and sales head in Palo Alto.
Demoed at UnPluggd, ChargeBee has hit 500 paying customers. “But there is a huge potential to do a lot better with more relationships with other B2B solutions,” he said.
The startup now processes $1.6 mn worth of customer transactions every month and is targeting to hit $20 mn a month by the end of the year.