Total amount raised
$58.7 Millions
Latest funding date
9/1/2019
Location
Recurly has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform specializes in subscription management and recurring billing, offering a comprehensive suite of services to streamline these processes.
Keep reading to explore the intricacies of Recurly's fundraising journey and the investors backing this innovative platform.
What Is Recurly?
Recurly, founded in September 2009, is a subscription billing management SaaS platform based in San Francisco, California. The company was established by Dan Burkhart, Isaac Hall, and Tim Van Loan.
Recurly specializes in providing enterprise-class recurring billing management for subscription-based businesses. Their platform handles the complexities of subscription billing and revenue optimization, improving subscriber economics and operational efficiency.
With a workforce of 251-500 employees, Recurly powers over 2,000 brands, including well-known names like Sling TV, BarkBox, and Twitch.
How Much Funding Has Recurly Raised?
- Seed Round
- Amount Raised: $1.6M
- Date: July 2010
- Lead Investors: Polaris Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and establish a market presence.
- Series A
- Amount Raised: $6M
- Date: January 2012
- Lead Investors: Headline
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series B
- Amount Raised: $12M
- Date: October 2014
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: $19.5M
- Date: September 2019
- Lead Investors: F-Prime Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel product research and development, and expand sales and marketing divisions.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and innovation in the subscription billing market.
Total Amount Raised: $39.1M
Current Valuation: Not publicly disclosed
Key Investors
- F-Prime Capital
- Details: F-Prime Capital is a global venture capital firm that invests in healthcare and technology companies. They have a strong track record of supporting innovative startups and helping them scale.
- Investment Focus Areas: Healthcare, Technology, Financial Services
- Notable Investments: Ultragenyx, Denali Therapeutics, Orchard Therapeutics
- Fidelity
- Details: Fidelity is a multinational financial services corporation known for its investment management and brokerage services. They have a significant presence in the venture capital space through their investment arm.
- Investment Focus Areas: Financial Services, Technology, Healthcare
- Notable Investments: Uber, SpaceX, Airbnb
- Headline
- Details: Headline is a global venture capital firm that invests in early-stage and growth-stage companies. They focus on identifying and supporting high-potential startups across various sectors.
- Investment Focus Areas: Internet, Mobile, Software
- Notable Investments: Bumble, Sonos, Farfetch
- Polaris Partners
- Details: Polaris Partners is a venture capital firm that invests in technology and healthcare companies. They have a long history of backing innovative startups and helping them achieve market success.
- Investment Focus Areas: Technology, Healthcare, Software
- Notable Investments: Akamai Technologies, LogMeIn, Ironwood Pharmaceuticals
- Greycroft
- Details: Greycroft is a venture capital firm that invests in internet and mobile companies. They focus on early-stage investments and have a strong portfolio of successful startups.
- Investment Focus Areas: Internet, Mobile, Media
- Notable Investments: Venmo, The RealReal, Scopely
What's Next for Recurly?
Recurly stands at the cusp of significant growth opportunities, driven by the expanding subscription economy. With the market growing over 300% between 2012 and 2018, and 15% of online shoppers subscribing to products, the potential is vast. Recurly's focus on product research and development, coupled with its machine learning capabilities, positions it well to capitalize on this trend.
Future fundraising appears promising as the company continues to innovate and expand its market reach. However, challenges such as competition from other platforms and the need to maintain high security standards could pose hurdles. Navigating these will be crucial for Recurly's sustained success.
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