- Subskribe recently launched with $18.4 million in seed and a Series A of funding. These are the details.
Subskribe recently launched with $18.4 million in seed and a Series A of funding from 8VC and Slow Ventures. Founded by billing and payment veterans from Zuora, Okta, Netflix and Google, Subskribe is known as the world’s first adaptive quoting and billing platform for modern SaaS.
Until now, the quote-to-revenue solutions have suffered from 2 key flaws. First, many are slapped together from different systems – which makes them error-prone, expensive to integrate, and difficult to reconcile. And second, they are built around static sales orders that aren’t designed to change. Even when they claim to support dynamic deals, their underlying architecture makes them clumsy and unreliable.
Subskribe is known as being different. It is an adaptive quote-to-revenue system built around orders that can change over time, down to the individual line item. Each part of Subskribe, from quoting to billing, refers to the same repository of dynamic orders — the same source of truth — so it’s a totally unified experience from proposal to revenue. No silos. No need for finance to puzzle over how much to bill.
Subskribe provides a consumer-grade experience with enterprise capabilities, including a unified and highly scalable architecture, a modern API-first design and powerful low/no-code customization.
The features include:
1.) Advanced usage-based billing
2.) Industry-leading support for quoting and billing ramp-up subscriptions
3.) Zero reconciliation between quotes/orders and invoices
4.) Order-based invoicing to support ASC 606
5.) Unified product catalog across quoting and billing
6.) Predefined templates for jumpstarting setup
7.) Pre-built integrations with Salesforce, Slack, Avalara, Docusign and many more.
In addition to 8VC and Slow Ventures, Subskribe’s investors include senior finance and operations executives at companies including Amplitude, Asana, Coupa, Dialpad, Okta, Plaid and UIPath. And Subskribe’s cofounders include former Zuora engineering director Yibin Guo and former Okta senior director business technology Prakash Raina.
KEY QUOTES:
“With most SaaS companies, their Achilles heel is the quote-to-revenue process. It makes everything hard. It’s hard to set up a complex quote. It’s hard to reconcile quotes and invoices. It’s hard to bill subscriptions and one-off services. Subskribe makes all those hard things easy. It enables businesses to design deals that make sense for them, not their software. Our customers are winning more business and growing their top-line revenue faster than ever before.”
– Subskribe CEO Durga Pandey
“Subskribe has been a great partner, enabling us to quickly operationalize pay-as-you-go pricing for our new SmallID offering. As BigID continues to scale, the ability to provide on-demand, consumption-based subscriptions is a fantastic compliment to our Enterprise offerings.”
– Tom Murtaugh, VP, GTM operations at BigID
“Subskribe is entirely transforming the way SaaS companies do business; the way their proprietary software is changing the process of subscription billing for the use of software is revolutionary. They are a perfect example of how 8VC likes to both back and build companies that completely modernize entire sectors and I am thrilled to watch this talented team build the software billing technology company of the future.”
– 8VC founding partner Alex Kolicich
“Subskribe has quickly made a big impact in a fragmented $8B market that’s crying out for disruption. Despite many attempts, neither the big incumbents nor newer startups have nailed the post-subscription SaaS problem the way Subskribe has. It’s a real testament to the experience of their leadership and the excellence of their design and engineering teams. There’s no limit to where Subskribe can go from here.”
– Sam Lessin, managing director at Slow Ventures
