RevenueCat raises $12M Series C as it expands its subscription management to the web

RevenueCat raises $12M Series C for web expansion and subscription management platform enhancement.

: RevenueCat, known for its app subscription management, secured $12M in Series C funding led by Adjacent, aiming to expand into web and Roku subscription services with its new RevenueCat Billing product. The initiative is timely, considering new EU regulations prompting Apple to modify its stance on web apps, providing an opportunity for RevenueCat to cater to developers seeking web-based monetization. Beyond funding, RevenueCat plans to enter new markets like Japan and South Korea, focusing on localizing support and expanding its developer base.

RevenueCat has successfully closed a $12 million Series C funding round led by Adjacent, amidst launching RevenueCat Billing, a new product designed to integrate subscription purchases seamlessly into web applications, with future plans to include Roku support. This strategic move comes as the EU's Digital Markets Act starts influencing major platform policies, including Apple's, offering a larger window for developers interested in monetizing web applications alongside or instead of traditional app stores. RevenueCat aims to capitalize on this shift by providing a unified platform that simplifies subscription management across the web and mobile apps, ensuring developers have a coherent view and management console for their subscription analytics and data, irrespective of the transaction origin.

The expansion into web subscription services isn't just about broadening RevenueCat's product offerings; it's a direct response to the evolving digital marketplace and developer needs. With companies like Apple facing regulatory pressures to open up their ecosystems, RevenueCat's new web SDK allows developers to facilitate subscription payments directly from any website. This capability is particularly appealing as it bypasses the hefty fees associated with app store transactions while also opening up new revenue streams for developers through web-based applications. Additionally, the expansion into new markets, such as Japan and South Korea, underscores RevenueCat's commitment to enabling worldwide developers to monetize their apps more efficiently, supporting a broader range of languages and currencies to cater to a global audience.

Despite not yet being profitable, RevenueCat's leadership views the current capital infusion and product expansion as key strategies for future growth and profitability. With over $40 million in the bank and a significant annual recurring revenue (ARR), the company is positioning itself as an indispensable tool for app developers navigating the complex landscape of subscription-based monetization. The focus on building out new products and entering new markets, coupled with a strategy to eventually take the company public within the decade, reflects a long-term vision for growth that aligns investor interests with the success of developers leveraging RevenueCat's platform.