SaaSOptics and Chargify, the leading providers of financial operations and subscription billing management solutions for subscription businesses, today publicly announced the merger of the two companies. The combined company will be known as Maxio and will provide all-in-one revenue management and advanced subscription billing solutions for high-growth software-as-a-service (SaaS) companies.
“Modern SaaS companies require a robust billing and revenue management solution now more than ever thanks to a dramatic rise in the adoption of subscription models with complex pricing structures,” said Jason Parkman, chair of Maxio. “Maxio has an incredible opportunity to transform the subscription management market and provide huge value to our customers by providing a complete financial operations platform, regardless of billing and pricing structure.”
SaaSOptics and Chargify have delivered some of the most innovative and successful solutions addressing the needs of finance professionals, executive leadership, and SaaS founders. These solutions cover the full spectrum of the subscription lifecycle including subscription management, recurring billing, GAAP/IFRS-compliant revenue recognition, SaaS metrics, revenue retention, expense recognition, usage, and events-based billing.
The announcement comes after a year of significant growth for SaaSOptics and Chargify upon receiving a combined $150 million growth equity investment by Battery Ventures in April 2021. This investment has enabled SaaSOptics and Chargify to further invest in both products, ensuring their customers can better manage their billing and revenue while supporting their own end-users.
“It has been truly impressive to see the growth and momentum of SaaSOptics and Chargify over the past 12 months,” said Chelsea Stoner, general partner at Battery Ventures. “Bringing together these two powerful platforms will provide unparalleled value for customers who are scaling their businesses, and will finally have a single solution to power both their subscription-billing and financial operations.”
With more than 2,300 customers worldwide and $10 billion in customer annual recurring revenue managed, the Maxio brand will continue to drive innovation in the financial technology space, while providing customers with world-class support for all Chargify and SaaSOptics solutions.
The announcement comes at a time when SaaS businesses are increasingly evaluating whether a product-led or sales-led growth strategy can best boost subscription sales. With a complete billing and financial solution, businesses will not be forced to choose between the two and can instead adopt a hybrid approach that provides their customers with increased purchasing flexibility.
“Witnessing SaaSOptics and Chargify come together over the past year has exceeded all expectations, not just from a brand and product perspective, but as a unified team,” said Chris Weber, president and chief operating officer. “Today’s announcement is just the first of many exciting updates we will be sharing in the coming months thanks to the hard work of our combined Maxio team.”
Maxio currently has more than 260 team members working remotely or at one of its four office headquarters in San Antonio, Texas; Atlanta, Georgia; Dublin, Ireland; and Kraków, Poland. As the company scales, it plans to add approximately 115 new positions in 2022 alone to help achieve and surpass its growth goals.