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Chargebee Acquires numberz and Launches Chargebee Receivables

Subscription management platform acquires numberz and launches Chargebee Receivables to automate AR for subscription companies.

There they grow again. Subscription management platform Chargebee announced last week that it acquired numberz, an AI-driven accounts receivable and collections platform. Chargebee also announced the launch of Chargebee Receivables to help subscription businesses automate their accounts receivable, including everything from purchase to payment. Chargebee Receivables will help recurring revenue companies manage subscription products and invoices, along with collecting data and insights for subscription managers and executives to use in making decisions. By automating the collections process, subscription companies of all sizes can expedite payment processing.

Numberz employs a team of more than 40 trusted professionals who work with over 18,000 small and medium businesses and 1,400+ chartered accountants. They have over 150 enterprises using the numberz platform. The numberz team will join Chargebee in their different offices around the world and remotely across India. Numberz’s executive team will join Chargebee’s leadership team. Chargebee works with more than 4,000 subscription and recurring revenue companies. Their customers include Okta, Freshworks, Calendly and Terms of the deal were not disclosed.

“Over the last year, we have focused on strategic acquisitions that grow our platform and solve a wide range of customer problems by building a unified solution that connects data points from all aspects of the business,” said Krish Subramanian, CEO and co-founder of Chargebee, in a February 23, 2022 announcement.

“With the acquisition of numberz, we are focused on solving bottlenecks that often occur due to clunky Accounts Receivable systems that leave collections delayed and bills unpaid. When businesses are growing at a fast rate, it’s critical that decision-makers have full visibility into receivables so they have clarity into available working capital needed for growth,” Subramanian added.

Konica Minolta works with Chargebee Receivables. CFO Nitin Gupta shared his thoughts on the AR solution.

“Implementing Receivables has created a lot of visibility and efficiency within the system. The coverage of each credit controller has increased by roughly 33% – they are able to serve more customers, more effectively. The increase in efficiency of our teams is also helping us run the department operations profitably without increasing the team size,” said Gupta.

This has been a big year for Chargebee already. Chargebee raised $250 million in new funding, allowing the company to expand its subscription management services. With this funding round, total investments in Chargebee now total $470 million. This includes a $125 million funding round that closed last April. At that time, Chargebee was valued at $1.4 billion. With the closing of the most recent funding round, more than doubled its valuation to $3.5 billion in just nine months. Prior to that, Chargebee acquired customer retention platform Brightback and revenue recognition platform RevLock.

Insider Take

Chargebee is taking the subscription billing and management world by storm with additional funding opportunities and strategic acquisitions of complementary companies. They may have 4,000 clients already but there are plenty more to be had, and we predict they are just getting started. There are probably more acquisitions in the year ahead. Who will their next target be?

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