Subscription management platform Chargebee has launched Chargebee Receivables following the acquisition of collection management company numberz, according to a on Wednesday (Feb. 23) press release.
The new offering will allow subscription businesses to automate the receivables process from purchase to payment and manage subscription products and invoices, aiding data collections and improving insights for business leaders.
“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,” Chargebee CEO and Co-founder Krish Subramanian said in the 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,” he said. “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.”
Chargebee Receivables integrates with existing ERP and accounting solutions to give finance leaders “better visibility and control of their receivables and improve their own customer experience,” per the announcement. Chargebee Receivables users can manage the entire order-to-cash process.
“The shared vision, values and the people-first approach of Chargebee made this an ideal ‘home’ — not just for the business but for the entire team,” said Rajeev Chari, co-founder and COO of numberz.
Related: Chargebee Raises $250M at $3.5B Valuation
Earlier this month, Chargebee reached a valuation of $3.5 billion following a $250 million funding round. The company was valued at $1.4 billion last year after raising $125 million in venture funding. Chargebee will use this latest funding for product innovation, global expansion and corporate growth initiatives.
Last month, Chargebee acquired customer retention platform Brightback following its recent acquisition of revenue recognition firm RevLock.
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