Recurly Raises $12M To Chart the Future of Recurring Billing
Over the past 5 years, Recurly has built a company centered around the success of our customers. We believe that providing a flexible and nimble billing service to our customers allows them to achieve extraordinary outcomes. We elevate billing from a simple back-office function to a genuine competitive advantage.
We take great pride in seeing our customers achieving significant milestones, knowing that we played some part in their success. Recent examples include: BookFresh's acquisition by Square, Twitch.tv's acquisition by Amazon, Dropcam's acquisition by Google, and HubSpot's IPO from two weeks ago. Each of these companies were able to achieve greater velocity by ensuring that their customer billing interactions were smooth, automated, and scalable using Recurly.
Today, we are delighted to take a moment to reflect on the progress we've made as a company. We are excited about bringing on a new set of world-class investors - Devonshire Partners and Greycroft Partners - who will add to our existing bench comprised of Polaris Partners, e.ventures, Harrison Metal and Freestyle.vc.
We have raised a $12 million Series B round of investment, and look forward to continuing our pursuit to make Recurly a seamless component of the naturally outsourced set of services required to ensure greater efficiency and end-customer satisfaction. This investment provides solid capitalization along with an expanded network to ensure Recurly's growth and continued innovation. Expect great things from us. We hold ourselves to a high standard and measure ourselves by the success of our own customers.
The investment comes at a great time, because it allows Recurly to fast-track partner platform initiatives which will provide a broader set of business solutions to customers - from analytics to shipping, alternative payments to fraud prevention. In addition, Recurly's core service will continue to introduce alternative methods of payments to enable a greater set of business use cases and geographies going forward.
We're very excited about the future that lies ahead. We're also very pleased to welcome Shervin Ghaemmaghami, from Devonshire Partners, to the Recurly Board of Directors.
CEO and co-founder