Revenuecat, a company so linked to the mobile economy that a new and three subscription applications are now launched with its software under the hood, is preparing to expand its business. Taking advantage of its market position, which now includes promoting subscriptions in more than 70,000 mobile applications, the Revenuecat growth plan will focus on using its understanding of the mobile industry to solve more common problems faced by mobile developers.
After the Court’s decision in the epic antimonopoly battle of Apple, the company’s approach includes helping developers to determine if it is the right time to support web -based payments, now that it is allowed by Apple App Store Guidelines. Revenuecat also sacrifices the tools to do so.
To boost its growth, Revenuecat has raised $ 50 million in Funds of the C series in a round led by the existing investor Bain Capital. Investors returning, including ventures index, and combinator, adjacent, volo ventures,
And Saastrum Fund also participated.
The funds extend the C series of $ 12 million from the revenuecat last year, which takes its total increase to date to $ 100 million. With the additional capital, the startup is now valued at $ 500 million, after the “half corn”, such as the Revenuecat CEO, Jacob Eiting Bromas, refers to the companies of billions of dollars that were known as “unicorns.”
“With the place where we are, this gives us space to grow … I think we can build a company on a public scale,” Eiting tells TechCrunch.
The company’s growth key are the next products that Revenuecat has on its road map.
Initially, having worried about facilitating developers to implement subscriptions without having so many code, the future of Revenuecat implies solving a broader set of problems faced by mobile developers.
Eiting compares the next phase of the company’s growth with something like the Shopify electronic commerce platform. Initially, Shopify offered tools to run an online store with its service subscription offer, but then expanded to be a broader electronic commerce business that included things such as compliance, loans, an application market and more.
“We know a lot about this industry,” explains Eiting, or the application economy. “There are a lot of common points among all thesis companies … common problems that become alone. We are in a position to solve them now.”
Specifically, Revenuecat Aims to Help Developers with Other Aspects of Their Business Beyond Billing and Subscriptions In Areas Like Customer Acquisition (Somothing that scholars Axes as a As-Tracking as a As-Tracking as a As-Tracking Technology, As a As-Tracking Technology, as a As-Tracking Technology, as a As-Tracking Technology, so as the follow-up technology that persists as a follow-up technology.
Within its main business, Revenuecat is working to improve the purchase acquisition to help developers turn their customers into paid subscribers. The company also launched new tools such as a drag and release payment wall editor and new tools for applications that offer virtual currencies.
More recent, the company changed its approach to web payments, since the Apple-EPIC court ruling caused an avalanche of interest in the Revenuecat web billing engine, which launched the past fall in beta. The team had been silent in the product before the court’s decision, which forced Apple to allow the application on the left to the external increases without commissions.
Today, the tool competes with Stripe, Recurly, Chargee and others, but is built specifically to meet the needs of mobile application developers.
Currently, only about 2,000 developers are testing the Revenuecat billing service.
The company not only provides tools to help developers adopt the new technology; However, he is also sacrificing ideas about whether they should do so.
When executing experiments in a mobile revenuecat consumption application acquired last year, a spicy audiobook application called Dipsea, the company can try to see how billing changes affect the results of the application. For example, it is possible that it makes no sense that small businesses developers who only pay Apple a 15% commission try to handle payments on their own, since they also have to take the risk of handling the paintings and fraud, which can be successful.
These tests can provide the industry (already Apple itself, perhaps), data on purchasing in the application (IAPS) really are worth. It may turn out that the commissions charged by Apple would like a large standard 30%discount, depending on what the data indicates.
“I am happy that we can do the real experiment, because I don’t think Apple has done it,” Eiting tells TechCrunch. “I am excited to finally get some data, finally solve the debate, or less enrich the debate.”
Another area that affects Revenuecat’s business is AI.
In addition to providing payment infrastructure to customers such as OpenAI for its chatgpt application and other AI models suppliers, Revenuecat faces an explosion of applications of applications “coded by vibration” built by developers who assumed the AI technology process. Eiting’s memories tell a child on the day of a school race about the coding of environments and a month and a half later, the child sent a basic application in the App Store.
“The child cannot program, but in two months he built an application,” he says. “When I think about what my trip was to get to that point, he was massively compressed. And that will have effects on the economy in a way that we cannot come and understand at this time.”
This change in how applications are built could see Reenuecat working with companies that provide coding tools with AI.
The new funds will also help Reenuecat build their next products, hiring and fuel acquisition and acquisition efforts to accelerate growth.
“I think we have quite good real Gods to build engineering equipment and specific products to pursue things. And we want to climb that as much as possible,” says Eiting.
Updated after the publication with a more precise number or mobile applications using the Revenuecat platform (more than 70k, Inseme or more than 50k).