Atlanta-based SaaSOptics and San Antonio-based Chargify announced they will be merging as one company under a new name.
The newly combined company will be rebranded as Maxio, which will offer one-stop revenue management and subscription billing solutions for high-growth software-as-a-service companies.
It's a timely announcement, coming after a year of growth for both companies, who received a combined $150 million growth equity investment by Battery Ventures in April of last year. With that investment, both SaaSOptics and Chargify were able to invest further in their products and support their specific end-users.
Collectively, the two companies offer subscription management, recurring billing, SaaS metrics, revenue retention, expense recognition, usage, events-based billing and GAAP/IFRS-compliant revenue recognition, among other services.
Jason Parkman, chair of Chargify and SaaSOptics, said the combined company will be able to provide a more complete financial operations platform with a wide range of billing and pricing structures. He added that the need for such services is mounting due to more businesses adopting subscription models with more complex pricing models.
Currently, many SaaS businesses must evaluate a choice between whether product-led or sales-led growth strategies will increase their subscription sales, noted Parkman. But with a combined billing and financial option like Chargify, they will be able to adopt a more hybrid approach that offers flexibility to customers.
Battery Ventures' general partner Chelsea Stoner said the momentum of the two companies has been unique in the past year, and that combining them will be a powerful tool for customers to scale their businesses and have a simple, single solution for subscription billing and financial operations.
The Maxio brand has more than 2,300 customers internationally and manages $10 billion in customer annual recurring revenue managed. It has more than 260 team members working either remotely or at one of its four office headquarters: San Antonio, Atlanta, Dublin and Krakow, Poland.
SaaSOptics was founded in 2009 by David Ryan and Clayton Whitfield. Also in 2009, Chargify was conceived and founded by Lance Walley, Siamak Taghaddos and Michael Klett originally under parent company, Kansas-based virtual phone service company Grasshopper.
