Total amount raised
$58.7 Millions
Latest funding date
09/01/2019
Location
Recurly has successfully raised significant funding over multiple rounds, establishing itself as a key player in the subscription management and recurring billing industry. The platform offers a comprehensive suite of features designed to help businesses manage and optimize their subscription-based revenue models.
Keep reading to explore the intricacies of Recurly's fundraising journey and the investors backing this innovative platform.
What Is Recurly?
Recurly, founded in 2009, is headquartered in San Francisco, California. The company specializes in subscription management software and recurring billing platforms, helping businesses acquire, retain, and engage subscribers globally.
Recurly was founded by Isaac Hall, Andrew Stroup, and Michael Melby. The platform offers a comprehensive suite of features, including plans, pricing, promotions, subscriber management, payments orchestration, recurring billing, churn management, revenue recognition, and reporting & analytics.
With a team of over 200 employees, Recurly partners with industry leaders like Twitch, Paramount+, and Alaska Airlines, delivering an average ROI of 16x for their customers.
How Much Funding Has Recurly Raised?
- Seed Funding Round
- Amount Raised: $1.6 million
- Date: August 3, 2010
- Lead Investors: Polaris Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at expanding service offerings and scaling operations.
- Series A Financing Round
- Amount Raised: $6 million
- Date: January 24, 2012
- Lead Investors: BV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Funds used for hiring in engineering and support, and growth expansion.
- Funding Round
- Amount Raised: $12 million
- Date: October 20, 2014
- Lead Investors: Devonshire Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate with third-party tools and foster an ecosystem of partners.
Total Amount Raised: $19.6 million
Current Valuation: Not publicly disclosed
Key Investors
- Devonshire Investors
- Details: Devonshire Investors is a private equity firm affiliated with Fidelity Investments. They focus on long-term investments in various sectors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Not publicly disclosed
- Greycroft Partners
- Details: Greycroft Partners is a venture capital firm that invests in early and growth-stage companies. They have a strong presence in both New York and Los Angeles.
- Investment Focus Areas: Technology, media, consumer internet
- Notable Investments: Venmo, The RealReal, Scopely
- Polaris Partners
- Details: Polaris Partners is a venture capital firm that invests in technology and healthcare companies. They have been active for over two decades.
- Investment Focus Areas: Technology, healthcare, life sciences
- Notable Investments: LogMeIn, Akamai, Ironwood Pharmaceuticals
- BV Capital
- Details: BV Capital, also known as e.ventures, is a global venture capital firm. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Technology, digital media, e-commerce
- Notable Investments: Groupon, Sonos, AppFolio
- Harrison Metal
- Details: Harrison Metal is a seed-stage venture capital firm founded by Michael Dearing. They focus on early-stage technology startups.
- Investment Focus Areas: Technology, software, consumer internet
- Notable Investments: AdMob, Heroku, Birchbox
What's Next for Recurly?
Recurly stands at the cusp of significant growth opportunities, driven by the increasing adoption of subscription-based models across various industries. The company aims to expand its customer base and integrate with third-party tools, building a robust ecosystem of partners. This expansion could position Recurly as a leader in the subscription management market, tapping into the growing demand for efficient billing solutions.
Future fundraising rounds seem likely as Recurly scales its operations and enhances its technology. The company may attract further investment to support its growth trajectory and market reach. However, challenges such as competition from other subscription billing platforms and the need for continuous innovation could pose hurdles along the way.
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