Revenuecat raises 50 million dollars with the expansion of the mobile phone application

RevenuecatAnd it is a company linked to the mobile economy to the extent that the new subscription applications out of every three in three through its program under the cover are preparing to expand its business. By taking advantage of their position on the market, which now includes the operation of subscriptions in more than 70,000 mobile applications, the RENUECAT growth plan will focus on using its understanding of the mobile phone industry to solve more common problems faced by mobile phone developers.

After the court ruling in Apple-epic antitrustThe company’s focus includes helping developers to determine whether the time to support the web -based payments, and now then permissible By Apple US App Store. Revenuecat also provides the tools needed to do this.

To supply its growth, RevenueCat raised $ 50 million of series financing C at a tour led by Bain Capital Ventures. Investor returnees, including index projects, y combinator, adjacent, volo venetures,
The Saastr Fund, also participated.

The money from the C series C $ 12 million of last year extends the total, which has raised its total so far to 100 million dollars. With additional capital, the startup value is now $ 500 million, or after money-or “half an atom”, as the CEO of Revenuecat Jacob EITING, indicating companies that have become one billion dollars known as “”Unicorn“

“With the place where we are, this gives us a room for growth … I think we can build a public company,” says Eiting Techcrunch.

The company’s growth key is the following products that RevenueCat has on the road map.

After initially concerned with facilitating developers, the implementation of subscriptions without the need to write the largest number of software instructions, the future of Revenuecat includes a wider set of problems facing mobile phone developers.

Eiting compares the next stage of the company’s growth with something like the e -commerce platform in Shopify. Initially, Shopify has offered tools to run an internet interface with an online view to subscribe as a service, but it was later expanded to be a broader electronic trade company that guarantees things like loyalty, lending, application market and more.

“We know a lot about this industry,” explains eing, from the application economy. “There are a lot of common denominators among all these companies … common problems that have not been solved. We are in a position that allows us to solve these now.”

Specifically, Revenuecat aims to help developers who have other aspects of their business along with bills and subscriptions in areas such as customer acquisition (something has become a more challenging problem after starting Apple of Anti -operating technologyOr Att, as well as lend money to applications facing cash flow restrictions.

Within its basic work, Revenuecat improves the acquisition of the purchase point to help developers to convert their customers into paid subscribers. The company has also launched new tools such as the Paywall Drag-AND-Drop Editor and new tools for applications that offer virtual currencies.

Recently, the company has turned its focus again into web payments, such as Apple court ruling The flood raised attention RevenueCat web bills engineWhich was launched in Beta last fall. The team was quietly repeated to the product before the court’s decision, forcing Apple to allow the internal bonds of external purchases without commissions.

Today, the tool is competing with Stripe, Recurly, Chargeber, etc., but it is specially designed to meet the needs of mobile phone applications.

Currently, just over 2000 developers are trying to service for RevenueCat.

The company not only provides tools to help developers to adopt new technology, but it also provides visions on whether they should.

By conducting experiments on a The RevenueCat mobile application was obtained last yearIt is a hot audio application called Dipsea, the company can test to learn how to affect the billing changes on the final result of the application. For example, it may not make sense for small business developers who only pay Apple commission by 15 % to try to deal with payments on their own, as they must also be at risk of dealing with recovery and fraud, which may be expensive.

These tests can provide industry (and Apple itself, perhaps), with data about what the IAPS purchases (IAPS) deserve. It may be found that Apple commissions will not even need a large 30 % standard discount, depending on what the data indicates.

“I am just happy because we are already able to conduct the experience, because I don’t think Apple has done so,” says eing techcrunch. “I am ultimately excited to get some data, and finally settling the discussion – or at least enriching the discussion.”

Another field that affects the works of Revenuecat is artificial intelligence.

In addition to providing the payment infrastructure for customers such as Openai for its application in Chatgpt and other artificial intelligence models, Revenuecat faces an explosion of “suite” applications-the applications designed by developers who have benefited from artificial intelligence technology to deal with the coding process. Eiting remembers telling a child on a school day about coding, and a month and a half at a later time, the child has shipped a basic application on the application store.

“The child cannot program, but within two months they built an application,” he says. “When I think about what my journey was to reach this point – it was greatly compressed. It will have effects on the economy in ways that we cannot really understand at the present time.”

This shift in how to build applications can see Revenuecat works with companies that provide coding tools that operate in Amnesty International.

New funds will also help build their following products, lease, fuel integration and acquisitions to accelerate growth.

“I think we have already achieved well in building engineering and targeted products to pursue things. We want to expand as much as possible.”

It was updated after publishing with a more accurate number of mobile applications using the RevenueCat platform (more than 70 thousand, instead of more than 50 thousand), and explained that Bain Capital Ventures is a new investor. However, Mark Fiorentino invest in Revenuecat when he was in the index, before joining the Bain Capital Ventures, so he is the same investor in this sense.