Subscription billing provider Chargify buys event streaming firm Keen
Category: #business  By Anchal Solanki  Date: 2020-03-07
  • share
  • Twitter
  • Facebook
  • LinkedIn
Subscription billing provider Chargify buys event streaming firm Keen
  • The companies are a part of Scaleworks private equity firm’s group of companies
     
  • The new event-based billing mechanism will be operational with immediate effect

Texas-based software company- Chargify has reportedly announced the acquisition of Keen- an event streaming company.

Paul Lynch, CEO, Chargify, was reportedly quoted stating that event-based billing is a novel concept and is also the future in subscription pricing. He further states that event billing renders a simplified way to pay for the software services one uses.

Additionally, according to Lynch, event billing is primarily a unit-based billing mechanism where the consumer pays for software consumption. This implies that there is no longer the need to pay fixed monthly or yearly prices for services that are not being used by a customer.

Apparently, both the companies are a part of the Scaleworks private equity firm’s group of companies. This has further helped in the smooth functioning of the deal.

For the record, after the acquisition, Keen’s novel technology is now a part of Chargify’s network. Reportedly, there will be no change in the workings of the companies. Chargify will continue to render support to its 800-customer base developing its product portfolio.

Notably, the new event-based billing feature will commence operations immediately. However, financial details regarding the transaction have not yet been disclosed

Established in the year 2009, Chargify is a leading revenue management and billing platform for rapidly growing SaaS businesses. Initially, the company focused on the main needs of recurring billing. However, with changing times, Chargify has increased its offerings to meet the complexities arising out of SaaS revenue management, with a core emphasis on elastic billing, revenue operations and software-as-a service-based insights.

Reportedly, Chargify transacts over $1 billion via its network each year.   

 

Source Credits: https://techcrunch.com/2020/03/05/chargify-acquires-keen-to-bring-event-based-billing-to-its-platform/

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Anchal Solanki

Anchal Solanki    

A civil engineer by qualification, Anchal Solanki forayed into the domain of content writing in the midst of her graduation, embarking on the career path of a successful freelancer. Equipped with a short-term experience in market research, Anchal currently writes news...

Read More >>

More News By Anchal Solanki

EstrellaTV offers free access to all DIRECTV and U-verse TV users
EstrellaTV offers free access to all DIRECTV and U-verse TV users
By Anchal Solanki

While numerous businesses are struggling to make ends meet during the COVID-19 crisis, some businesses like Estrella Media are taking striding steps to ease the life of those living in self-quarantine or isolation. The U.S.-based media company that ...

Medica donates US$1M to meet health needs during COVID-19 pandemic
Medica donates US$1M to meet health needs during COVID-19 pandemic
By Anchal Solanki

Minnesota based non-profit charitable grant-making foundation, Medica has reportedly announced that the it will donate US$1 million towards emergency funds across 18 Minnesota based NPOs that play a vital role in meeting the health demands of vulnera...

ThoughtSpot, Google Cloud to extend partnership on AI-driven analytics
ThoughtSpot, Google Cloud to extend partnership on AI-driven analytics
By Anchal Solanki

The leader in search and AI-driven analytics, ThoughtSpot, recently announced the extending of its partnership with Google Cloud in a bid to empower organizations with cloud analytics solutions. A key part of this expanded relationship includes laun...