RevenueCat, a leading platform for managing consumer app monetization, announced it has raised a $50 million Series C round led by Bain Capital Ventures (BCV). Returning investors Index Ventures, Y Combinator, Adjacent, Volo Ventures, and SaaStr Fund also participated. This added to the prior $12 million Series C raised last year, bringing the total raised to $100 million to date.
Creating a monetization stack can be notoriously challenging. For developers, code can be hard to write, time-consuming to maintain and full of edge cases. And for product and marketing teams, having a full view of business performance is hard to find and adjust in one place.
RevenueCat enables engineers to build features simply along with analytics, integrations, and tools to grow. And product and marketing teams can obtain deep customer analytics to make data-driven decisions and grow revenue, with tools to manage pricing, customers and experiments. So consumers can easily pay anywhere and access their purchases from every device.
Momentum: In the last three months alone, more than one out of every three subscription apps that debuted on iOS or Android, worldwide, shipped with RevenueCat integration. Altogether, over 50,000 apps now depend on RevenueCat to manage subscriptions, consumables, lifetime purchases, and newly virtual currencies, making it the go‑to platform for developers looking to monetize their product.
1.) The rate of new apps integrating RevenueCat has more than doubled in the last six months, fueled by the rise of AI-driven consumer apps.
2.) Recent launches include Paywalls (a drag-and-drop paywall editor that lets developers build, configure, deploy, and test paywalls without touching code; Web Billing for off-app store transactions; and virtual currency support)
What the funding will be used for: The company plans to expand further into fintech, solving developer cashflow constraints caused by net-45 app store payout cycles. And RevenueCat also plans to roll out features that help developers acquire users, optimize conversions and boost retention, a holistic approach to running a thriving consumer app.
With fresh capital in hand, RevenueCat also plans to scale product development and make strategic hires to meet booming developer demand across AI, gaming, productivity and beyond.
RevenueCat now processes $8+ billion in annual transactions, powering monetization for standouts such as OpenAI’s ChatGPT, Notion, VSCO and Runna (recently acquired by Strava).
KEY QUOTES:
“RevenueCat is at a genuine inflection point. They’ve quietly become critical infrastructure for the mobile economy — now, as the lines between apps, AI, and the web blur, they’re uniquely positioned to grow into one of the most important companies powering consumer software. I’m thrilled to be doubling down.”
Mark Fiorentino, who led RevenueCat’s Series A at Index Ventures in 2020 and recently joined Bain Capital Ventures
“Developers deserve a frictionless way to make money, and nobody has approached this with our level of focus. 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.”
“Some folks thought this wouldn’t scale, but we’re nearing $50 million in revenue run-rate and close to breakeven. We hire people who are both extremely talented and radically committed to our mission of helping developers make more money. As long as we do that, we’ll continue to thrive.” View open roles at rev.cat/jobs.
Jacob Eiting, CEO and co-founder of RevenueCat
“After the initial implementation, we rarely need to dedicate development hours to our purchase infrastructure. RevenueCat is a core part of our technology stack, and is used across the entire organization.”
Greg Stewart, CEO of Ladder
