The post-covid economy has opened up possibilities for a new breed of startups. Unlike any other episode of digital transformation in history, this one swept across all sections of the global population. ‘Non-scalable’ businesses like learning, fitness, and health, that had their markets restricted by barriers like geography suddenly have the entire global market accessible to them.
The median age for a business to get seed funding in the US is about 3 years today, up from around 6 months a few years ago. Although the total seed fund has increased over the years, investors now look for tangible proof of product-market-fit early on.
Founders today are up against a bigger challenge, with tighter cash flows.
But it’s not all grim.
Enablers in the Form of Freemium
Today’s startup has something that earlier ones did not. The range of solutions available as freemium has exploded over the last few years. From cloud computing to GTM to productivity, there’s a low-cost option to get going.
Chargebee’s Launch Program was created in 2016 with the same aim. To help startups launch and run their subscription billing for free until they find their feet. Since then, the program has helped over 20,000 startups get to their first $50k of revenue for free. In 2020 alone, startups on the Launch Plan raised over $250M in Seed and Series-A Funding.
And we just made it 2x better with our $5B pledge for Startups.
What’s This Pledge for Startups, You Ask?
The revenue processing limit on our Launch Plan has been doubled from $50k to $100k. This means now a startup can sign up, set up their recurring billing, and start processing revenue from customers until they reach $100K of revenue. Completely free.
With this pledge, we aim to support 50,000 startups over the next two years to reach their first $100k of revenue.
What Does This Make Possible?
The first $100K is the most challenging phase in your startup’s journey. It’s the ‘discovery’ phase for your startup. You want to be agile as you experiment and figure out pricing, packaging, sales motions, customer service, and finance operations.
Hacking it on your own can be frustratingly slow and lead to revenue inefficiencies – something ambitious startups can’t afford. Your revenue infrastructure should not only scale with you, but enable that growth. Find out where you are in your revenue journey and how you can plan for growth with our Revenue Operations framework.
With the Launch Program, you can explore new avenues, conquer new territories, focus on your moonshots, and leave your recurring billing woes to us. Configure an on-brand, secure checkout, Automate your subscription billing, roll out pricing experiments, manage discounts, coupons, and tax compliance across markets, and streamline your entire revenue operations for free until you hit your first $100K.
Cocoon is one such startup. Cocoon provides a ‘family hub’ ideal for parents to get work done while children play and learn in a safe space.
“Chargebee was the most economical solution for our business as we were starting and were on a shoestring budget. Chargebee gave us the flexibility to charge monthly as well as 6-monthly. It has a smooth interface that allows us to set the start date and end date for a member’s subscription and change the billing frequency whenever required. It was important keeping in mind that our subscription model could evolve to meet the changing needs of our customers and the business.”
— Karl Chong, Co-founder & CEO, Cocoon
And that’s not all. When you grow your business and scale new heights, Chargebee will scale with you and enable that growth. Check out how LiveSession grew 7x over six months using the Launch Program.
“For us, as a new business, choosing the right billing and invoicing system was crucial. I thoroughly researched the tools available on the market. After conducting the test, we decided that Chargebee is the best one. We believe it will continue to meet our needs as LiveSession keeps growing.”
— Kamil Drazkiewicz, CEO & Founder, LiveSession
10,000+ startups already use Chargebee’s Launch Program.
You can be the next. Want to give it a try? Here’s your launchpad.
Happy growth! ?