Latest news with #subscriptionManagement
Reuters
22-05-2025
- Business
- Reuters
Subscription management platform RevenueCat raises $50 million in Series C funding
May 22 (Reuters) - Subscription management platform RevenueCat on Thursday raised $50 million in Series C funding, led by Bain Capital Ventures, along with participation from returning investors Index Ventures, Y Combinator, and Volo Ventures among others. The rise of tools and software that make it easier to create apps has boosted demand for in-app monetization platforms like RevenueCat, which simplify managing pricing and subscriptions. The San Francisco, California-based company counts OpenAI as a customer and worked with the AI firm to deploy ChatGPT on mobile following its remarkable debut in 2022. CEO Jacob Eiting told Reuters that 20% of RevenueCat's top 20 apps are AI-based, as these apps can charge higher fees and achieve better conversion rates. The surge in generative artificial intelligence has led to numerous AI startups requiring platforms to manage their subscription tiers as users increasingly turn to conversational chatbots for daily tasks. With the new funding, RevenueCat plans to expand its workforce and pursue acquisitions. The company is also making a significant push into the mobile gaming market, developing a virtual currency feature aimed at players who readily spend on in-game currency. "We eventually hope to be as important in the game market as we are in the app market," Eiting said.
National Post
07-05-2025
- Business
- National Post
Recurly Announces Strategic Acquisitions of Redfast and Prive to Accelerate the Future of Subscription Growth
Article content With the acquisitions of Redfast and Prive, Recurly delivers the only platform built to optimize every stage of the subscriber lifecycle – from ecommerce conversion to real-time engagement and retention. Article content Article content AUSTIN, Texas — Recurly, a leading subscription management platform, announced today – fresh off being named Best Subscription Management Platform by 2025 SubSummit – that it has acquired the Shopify-first subscription platform Prive and subscriber engagement personalization tool Redfast. With these additions, Recurly becomes the first and only subscription management suite to fully integrate billing, payments, analytics, real-time subscriber engagement, and ecommerce subscription management. Article content These strategic acquisitions immediately enhance Recurly's ability to deliver deeper personalization, stronger retention, and real-time engagement while expanding its reach into the fast-growing market for ecommerce and physical goods subscriptions. With this expansion, Recurly is empowering brands to stay ahead of what's next and optimize every stage of the subscriber lifecycle, driving stronger relationships, accelerating revenue growth, and redefining what success looks like in the subscription economy. Article content 'Today's subscription businesses need more than billing – they need the ability to manage the full subscriber lifecycle, mobilize data in real time, and prioritize flexibility and personalization at every touchpoint,' said Joe Rohrlich, CEO of Recurly. 'With the acquisitions of Redfast and Prive, Recurly is redefining what the all-in-one subscription experience looks like. We're giving our customers powerful new tools to drive engagement, optimize pricing, and manage subscriptions for both digital services and physical goods – all on a single platform designed to maximize growth and retention. What's most exciting is that customers can now immediately choose the path that impacts their business most.' Article content By acquiring Prive, Recurly strengthens its capabilities even further beyond digital goods to include physical goods subscriptions, providing greater flexibility, scalability, and personalization for businesses in a market where demand is projected to reach $1T by 2028. Article content This new offering, debuting as Recurly Commerce, delivers subscription automation, pricing intelligence, and revenue optimization for B2C and physical goods subscription Shopify brands like Coterie, Public Goods, GEM, Kudos, and over a hundred more. Combined with Recurly's subscription expertise and innovation, mid-market and enterprise ecommerce brands will have access to a more strategic alternative to outdated legacy billing solutions. Article content Co-founders Alex Craciun and Claudia Laurie will be advisors to Recurly during the integration, ensuring business continuity and an uncompromised customer experience. Article content 'Lack of flexibility in subscription billing has long been a pain point for businesses of all kinds,' said Craciun. 'As subscriptions continue to grow in the physical goods space, businesses need flexible, data-driven tools to meet evolving customer expectations. We're excited to join the Recurly ecosystem and help more high-growth brands optimize their subscription businesses, scale smarter, and stay ahead of a rapidly changing market,' added Laurie. Article content With the acquisition of Redfast, which will rebrand as Recurly Engage, Recurly customers can now predict churn, deliver personalized prompts, and drive critical in-product actions when and where they matter most. This enables brands to transition from reactive churn prevention to proactive retention strategies, ensuring more subscribers stay, upgrade, and deepen their brand engagement. According to reports, current and engaged customers spend 67% more on average than those who are new to a business, driving home that the acquisition of Redfast will deliver unparalleled benefits to Recurly customers like never before. Article content 'Building a loyal subscriber base is the key to retention and growth,' said Rajeev Raman, CEO of Redfast. 'With consumer acquisition costs rising and their expectations for personalization being at an all-time high, subscription businesses must engage subscribers precisely when it matters most, influencing key decisions like upgrades, renewals, and retention in real time. Joining forces with Recurly allows us to help brands turn engagement into their most powerful growth lever.' Article content Raman will join Recurly, where he will help accelerate the growth of Recurly Engage and further strengthen Recurly's leadership across the full subscriber lifecycle. Article content This milestone builds on the momentum of Recurly's recent spring product drop that introduced over 50 new tools and updates, like Recurly Compass, a powerful new AI-powered growth engine. Article content SubscriptionX (London): Join Recurly's Chief Product Officer, Priya Lakshminarayanan, during her closing keynote, where she'll discuss more about these exciting acquisitions, along with scaling subscriptions for enterprise ecommerce, May 14, 2025 at 3:30 p.m. BT. Article content SubSummit (Dallas): CEO Joe Rohrlich and CMO Lina Tonk will accept Recurly's award for the 2025 Best Subscription Management Platform, while Rohrlich will also be diving into how personalization fuels subscriber loyalty with Megan Krouse from Cinemark, May 28, 2025 at 10:00 a.m. CT. Article content London Tech Week: Priya Lakshminarayanan will share insights on getting the edge with AI and transforming retention with predictive analytics, June 11, 2025 at 10:20 a.m. BT. Article content About Recurly Article content Article content Article content Article content Article content Article content
