RevenueCat Secures $50M to Expand Mobile App Platform

RevenueCat, the subscription infrastructure powering over 70,000 mobile apps, has raised $50 million in Series C funding. This round, led by Bain Capital with participation from existing investors like Index Ventures and Y Combinator, brings RevenueCat's total funding to $100 million and values the company at $500 million.

Beyond Subscriptions: Addressing Key Developer Challenges

This latest funding will fuel RevenueCat's expansion beyond its core subscription management offering. CEO Jacob Eiting envisions a Shopify-like evolution, broadening the platform to address a wider range of developer needs.

Key areas of focus include:

  • Web-based payments: Following the Apple-Epic antitrust ruling, RevenueCat is helping developers navigate and implement alternative payment options.
  • Customer acquisition: RevenueCat aims to assist developers in overcoming challenges posed by Apple's anti-tracking technology (ATT).
  • App lending: The company plans to offer financial solutions for apps facing cash flow constraints.

New Tools and Insights for Mobile Developers

RevenueCat continues to enhance its core product with features like a drag-and-drop paywall editor and tools for virtual currencies. The company's web billing engine, currently in beta with over 2,000 developers, offers a specialized solution for mobile app businesses.

Through its acquisition of Dipsea, a spicy audiobooks app, RevenueCat conducts real-world experiments to analyze the impact of billing changes. This data provides valuable insights into the true cost of in-app purchases (IAPs) and informs developers on the optimal payment strategies.

Navigating the Rise of AI and "Vibe Coding"

RevenueCat is also addressing the growing trend of "vibe coding," where developers leverage AI tools to build apps with minimal coding experience. This shift presents new opportunities for RevenueCat to partner with AI-powered coding platforms.

Future Growth and Acquisitions

The new funding will support RevenueCat's product development, hiring efforts, and potential mergers and acquisitions. Eiting believes RevenueCat is well-positioned to build a public-scale company.

"We know a lot about this industry," explains Eiting. "There are a ton of commonalities between all these businesses… common problems that go unsolved. We’re in a position to solve those now."