Recurly, a startup that does the hard work of managing customers’ subscriptions to online services, said today that it’s landed $12 million in new funding.
As more and more software transitions into subscription-based software as a service, companies can call on tools from outfits like Recurly to manage specific accounts. Small wonder Recurly is getting new investment.
Recurly will be using some of the funding to integrate with existing third-party tools and foster an ecosystem of partners, a spokesperson told VentureBeat.
San Francisco-based Recurly started in 2010 and claims to have accrued more than 1,700 customers. Sixty people now work for Recurly, and the headcount should hit 125 by the end of 2015, a spokesperson said. The startup competes with companies like Chargify, Vindicia, and Zuora.
Devonshire Investors led the new round in Recurly. Greycroft Partners, Polaris Partners, and e.ventures also participated. To date, the startup has raised $19.6 million.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more