RevenueCat, a platform supporting consumer app monetization, has raised $50 million in an expanded Series C round led by Bain Capital Ventures, with participation from previous investors including Index Ventures, Y Combinator, and SaaStr Fund. This new funding brings the company’s total raised to $100 million. The capital will support product development, hiring, and efforts to meet growing demand across sectors such as AI, gaming, and productivity. RevenueCat, now nearing a $50 million revenue run-rate, operates a fully remote team across 18 countries and processes over $8 billion in annual transactions. Its platform powers billing and subscription infrastructure for apps like ChatGPT, Notion, and VSCO.
The platform now supports over one-third of all new subscription apps globally. Recent product releases include a drag-and-drop paywall editor, web billing features, and tools for external payment testing in response to recent changes in iOS regulations. The company also plans to enter new areas such as developer cash flow management and user acquisition. The company’s CEO, Jacob Eiting, believes, “We’re already assisting more annual app revenue than existed in the entire ecosystem when we started in 2017. The market has grown 10x, and I expect another 10x over the next decade. By staying radically focused on helping developers get paid, I believe we can build a generational public company.”
