RevenueCat raises $40M Series B for its in-app subscription platform –
Summary
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. Using the service, developers can access a real-time dashboard that display key metrics, like subscription revenue, churn, LTV (lifetime value), subscriber numbers, conversions and more. “Also, the beauty of freemium, or having a really generous free tier, is that it makes your tool the de facto — you remove as much friction as possible for providing software services and then, if you get your pricing right — which I think we have — it all kind of pays for itself,” he adds.
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