Total amount raised
$68.5 Millions
Latest funding date
4/1/2024
Location
RevenueCat has successfully raised significant funding across multiple rounds, with notable investors including Adjacent and Y Combinator. The platform specializes in managing in-app subscriptions, providing essential tools for developers to streamline their revenue processes.
Keep reading to delve into the details of RevenueCat's funding journey and the key investors supporting this innovative subscription management platform.
What Is RevenueCat?
Founded in December 2017, RevenueCat is based in San Francisco, California. The company was established by Jacob Eiting and Miguel Carranza.
RevenueCat specializes in managing in-app subscriptions, offering tools to build, manage, and analyze subscription data across iOS, Android, and web platforms.
With a team of 51-100 employees, RevenueCat continues to support app developers in optimizing their subscription-based revenue models.
How Much Funding Has RevenueCat Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core platform and validate the business model.
- Seed Round
- Amount Raised: $1.5M
- Date: October 2018
- Lead Investors: Jason Lemkin
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $15M
- Date: August 2020
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $40M
- Date: May 2021
- Lead Investors: Y Combinator Continuity Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and support a growing customer base.
- Series C
- Amount Raised: $12M
- Date: April 2024
- Lead Investors: Adjacent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand subscription management to the web and support growth plans.
Total Amount Raised: $68.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Adjacent
- Details: Adjacent is a venture capital firm that focuses on early-stage technology companies. Nico Wittenborn from Adjacent is a board member at RevenueCat.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Specific notable investments are not mentioned.
- Y Combinator Continuity Fund
- Details: Y Combinator Continuity Fund is an extension of the Y Combinator accelerator, providing follow-on funding to its portfolio companies. It has funded numerous successful startups.
- Investment Focus Areas: Early-stage startups, technology, various sectors.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They have a strong track record of supporting innovative startups.
- Investment Focus Areas: Technology, life sciences, various stages.
- Notable Investments: Dropbox, Slack, Robinhood.
- Jason Lemkin
- Details: Jason Lemkin is a well-known investor and founder of SaaStr, a community of SaaS founders and executives. He has a keen interest in SaaS companies.
- Investment Focus Areas: SaaS, technology startups.
- Notable Investments: Specific notable investments are not mentioned.
- SaaStr Fund
- Details: SaaStr Fund is a venture capital firm that focuses on SaaS companies. It is known for its deep expertise in the SaaS industry.
- Investment Focus Areas: SaaS companies.
- Notable Investments: Specific notable investments are not mentioned.
What's Next for RevenueCat?
RevenueCat is poised to capitalize on the growing demand for subscription management solutions, particularly with its expansion into web-based billing. This move allows developers to bypass app store restrictions and offers more flexible payment options, opening up significant opportunities in markets like Japan and South Korea. With over 30,000 apps and $2 billion in subscriptions managed annually, the potential for growth is substantial.
Future fundraising efforts are likely as RevenueCat continues to scale its operations and enhance its product offerings. However, the company will need to navigate regulatory changes and increased competition from other billing solutions. Balancing rapid growth with the path to profitability remains a critical challenge.
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