Billing startup chargebee becomes a unicorn with tiger funding

Chargebee Inc., a startup that helps enterprises with subscription billing and revenue management, raised $125 million in funding and boosted its valuation to $1.4 billion, reaching so-called unicorn status for the first time. The round was led by existing investors Tiger Global and Insight Venture Partners and new backer Sapphire Ventures, along with participation from earlier investor Steadview Capital. The infusion will help the company scale globally as customers hasten their shift to subscription-based services, Chargebee said in an announcement on Tuesday.

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