RevenueCat raises $40M Series B for its in-app subscription platform

RevenueCat, a startup offering a series of tools for developers of subscription-based apps, has raised $40 million in Series B funding, valuing its business at $300 million, post-money. Founded by developers who understood the difficulties in scaling a subscription app first-hand, RevenueCat’s software development kit (SDK) solution gives companies the tools they need to build a subscription business, including not just adding subscriptions themselves, but maintaining them over time even as the app stores implement changes. It also aids by sharing subscription data with other tools the business uses, like those for advertising, analytics or attribution.

The funding round was led by Y Combinator’s Continuity Fund and included participation from Index Ventures, SaaStr, Oakhouse, Adjacent, and FundersClub, as well as Blinklist CTO Tobias Balling and Algolia CEO Nicolas Dessaign. With the round, YC Continuity Partner Anu Hariharan is joining RevenueCat’s board, which today includes Index’s Mark Fiorentino in addition to the founders.

Explains RevenueCat CEO Jacob Eiting, the idea for the company came about after he and co-founder Miguel Carranza Guisado (CTO) struggled to figure out subscription infrastructure while working together at Elevate. After years of untangling a “subscription mess” in order to figure out answers to basic questions like subscriber retention and lifetime value, they realized there was potential in helping solve this problem for other developers.

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