RevenueCat, a platform powering subscriptions in over 70,000 mobile apps, has raised $50 million in Series C funding. This round, bringing the company's total funding to $100 million and valuing it at $500 million post-money, was led by Bain Capital Ventures, with participation from returning investors including Index Ventures, Y Combinator, Adjacent, Volo Ventures, and SaaStr Fund. The funding significantly extends a previous $12 million Series C round from last year.
The investment will fuel RevenueCat's expansion beyond its core subscription management service for mobile app developers. The company plans to leverage its deep understanding of the mobile app economy to address broader developer challenges, including customer acquisition, providing financial assistance to apps facing cash flow issues, and improving point-of-purchase conversion rates. This expansion mirrors the growth trajectory of companies like Shopify, moving from a niche service to a comprehensive platform.
A key focus will be enhancing RevenueCat's web payment capabilities, spurred by recent antitrust rulings allowing for external payment links within app stores. The company will also invest in developing new products, hiring talent, and pursuing strategic mergers and acquisitions to accelerate growth. RevenueCat is uniquely positioned to capitalize on the burgeoning "vibe-coded" app market, where AI tools are simplifying app development.
RevenueCat's expansion strategy includes conducting experiments to analyze the impact of billing changes on app profitability, providing valuable data to the industry and potentially influencing discussions around app store commission structures. This data-driven approach, combined with its existing robust subscription management tools, positions RevenueCat for continued success in the evolving mobile app landscape.
