Recurly provides subscription management solutions, deep payments expertise, and data-driven billing intelligence to help businesses grow recurring revenue. Its platform manages over 30 million active subscribers for more than 2,100 customers and processes billions of dollars in subscription revenues. The company reported a 38% year‑over‑year increase in active subscriptions under management (June 2019–June 2020) and a 210% year‑over‑year growth in net new bookings. Recurly has expanded global capabilities, enabling payment acceptance in 140+ currencies and multilingual communications in 18 languages. The company has about 240 employees and offices in San Francisco, Boulder, and New Orleans, and was founded in 2010. The new partnership is intended to fund continued investments in Recurly’s technology and platform innovation and to expand its go‑to‑market initiatives. Recurly provides a versatile subscription management platform to manage the entire subscription lifecycle for businesses. It serves more than 2,100 businesses across 42 countries and manages over 20 million active subscribers. The company has 175 employees across offices in San Francisco, Boulder, CO, and New Orleans, LA. Recurly closed $19.5M in funding in this round, bringing total capital raised to over $39M. The round was led by F-Prime Capital with participation from Polaris Partners, Greycroft and Silicon Valley Bank. Recurly plans to use the funds to accelerate product development (including payment optimization and subscriber intelligence), expand sales and marketing, and further develop partnership programs. Recurly provides enterprise-class recurring billing management for subscription-based SaaS, media, mobile, productivity, and publishing businesses. Launched in 2010 by CEO Dan Burkhart, the company’s subscription billing platform is used by about 1,700 customers in 32 countries, processing in 11 local currencies via 22 payment gateways. Clients include AccuWeather, DishDigital, GigaOm, Groupon, JibJab Media, HubSpot, Asana, Optimizely, Twitch.tv, and Zillow. Recurly employed 60 professionals and planned to more than double its headcount by the end of 2015. The company intends to use new funding to further grow the capabilities of its platform, enabling integrations with third-party services and alternative payment methods. Its core product targets enterprise recurring billing management across a range of subscription businesses worldwide. Recurly builds subscription billing systems that let businesses implement recurring payments and integrate with financial software like QuickBooks. Its platform automates upgrades and downgrades, credit card error handling, automated customer communications, and customer retention management. Recurly recently launched a payment gateway tailored to recurring billing that integrates with payment processors’ backends to manage recurring transactions more efficiently. The company powers recurring billing for over 750 small and medium enterprises, including JibJab, Fox News Radio, Justin.tv, SlideShare, GOOD.is, and Weather Underground. The new funding will be used for hiring in engineering and support and for growth expansion. The company has raised a total of $8 million to date. Recurly provides a subscription-billing platform that lets businesses quickly implement recurring payment systems. The service handles tasks such as credit card number storage and integrates with financial software like QuickBooks. The company recently moved to a hybrid fee/usage pricing model—effective July 1—under which new members pay $29 per month plus $0.20 per transaction, with per-transaction fees declining as volume rises. That pricing makes the product less suitable for very small microtransactions but affordable for many businesses. Recurly has over 1,300 companies signed up, with “hundreds” reported as paying customers. It is gaining traction beyond web services, with offline customers such as yoga studios and a law firm using it as a virtual terminal for recurring fees.

Total raised

$39M

Funding rounds

5

Latest round

Equity

Latest activity

Oct 2019