Battery ventures saasoptics saasgarcia san: SAN FRANCISCO-(BUSINESS WIRE)-Battery Ventures, a global, technology-focused investment firm, today announced it led a combined growth-equity investment of more than $150 million in two complementary, cloud-software platforms that manage billing and automate related financial functions including payments, revenue recognition and analytics for software-as-a-service (SaaS) companies.
Both companies SaaSOptics as well as Chargify, both are loved by over 2000 customers. They also manage the more than 10 billion dollars in year-round recurring income. Some of the most prominent SaaS brands rely on SaaSOptics as well as Chargify to manage its subscription-based billing as well as financial functions. The Battery purchase is designed to boost growth in both companies and enable them to develop their product.
Battery is a seasoned professional in investment in financial technology that is at the growth stage as well as in companies that sell cloud-based software to CFOs of corporations such as Avalara, Coupa, Intacct (now part of Sage), AuditBoard, Soldo and Carta. In the present, SaaS subscription management and revenue management services are expanding quickly due to the wider shift towards subscription-based applications.
The increase is also a result of the desire of numerous SaaS CFOs to simplify accounting functions such as billing, invoicing, as well as revenue recognition. They are also tapping into their financial records within their organization for crucial metrics to assist them in better serving customers and increase revenue.
“We are thrilled to partner with both SaaSOptics and Chargify, each of. Which has built a powerful business in their respective financial-software markets,” said Chelsea Stoner, a Battery Ventures general partner.
“Both companies’ expanding businesses illustrate the fact that software companies today require more robust revenue and billing solutions. This is driven in large part by innovative, use-based cloud models. We’re thrilled to invest in new and innovative products that can help all software companies to better manage their operations.”
SaaSOptics located in Atlanta, Ga., is a subscription management B2B platform that is specialized in automating financial processes of SaaS companies by streamlining their order-to-revenue procedure and automating revenue recognition, payment and invoicing; and statistics and analytics for subscriptions.
Chargify is located within San Antonio, Tex. and is a market leader in subscription and billing administration for B2B SaaS is a specialist in event-based. The complex usage billing and subscription management, as well as collection of payments, and tools to manage data.
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“We are thrilled to be partnering together with Battery Ventures. SaaSOptics is dedicated to delivering the complete financial services that facilitate subscription commerce” explained Tim McCormick, CEO of SaaSOptics. “With Battery’s vast experience and its success in partnering with companies that offer cloud-based financial software.
We see an enormous opportunity to change the market for subscription management. This vision offers a comprehensive finance operations platform for all different business models, including B2B and or B2C. Regardless of the billing structure such as fixed cost tiered, seat-based, events-based, and any combination of these.”
Paul Lynch, CEO of Chargify, added: “With Battery’s history of partnering with prominent SaaS businesses. The firm recognizes the massive potential in the subscription-management space. Businesses are moving towards subscriptions and the use of events and consumption-based business models. Our solutions help these industries increase the value of customers and maximize their profits.”
About SaaSOptics
SaaSOptics is an online subscription management system that streamlines financial operations for expanding B2B SaaS companies. A cloud-based service that is cloud-based, the SaaSOptics platform lets companies obtain exact. SaaS metrics and data quickly as well as scale payments and billing easily and efficiently automate GAAP/IFRS-compliant revenue recognition.
Businesses that are built on SaaSOptics can eliminate their dependence on spreadsheets, and can streamline the financial processes. It is accessible to startups in the early stages and has a simplified installation procedure.
About Chargify
In 2009, the company was founded. Chargify has assisted thousands of companies manage millions of deals that generate billions in revenue annually. Chargify eliminates bottlenecks in billing and offers front, corner and back-office staff the agility and speed to increase their productivity.
In the last decade, Chargify has continued to develop its services to tackle the challenges of the whole cycle of subscriptions including periodic payments, managing subscriptions the retention of revenue, prepay subscriptions revenue operations, and event-based billing. Chargify has its headquarters at San Antonio, Texas and Dublin, Ireland. Find out more information about Chargify on www.chargify.com.
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About Battery Ventures
Battery works with extraordinary managers and founders to create market-leading businesses. That are defining their niches, such as software and services enterprise infrastructure and online marketplaces as well as healthcare IT as well as industrial tech. Established in 1983, the firm invests in businesses at every stage, from the beginning of a business to growth and buyouts. They invests worldwide from six strategically located places
