The oversubscribed round was led by Lakestar with participation from Perpetual Growth, CF Private Equity, Bessemer Venture Partners, and 83North.
"After spending two years perfecting our SaaS and cloud spend optimisation, achieving product-market fit and taking market share from established players, we’ve brought all of our data and insights directly into the workflow experience. All employees can now initiate any purchase, quickly, transparently and at the best price, while procurement can fully customise the workflows to their needs and embed granular approvals."
The funding round was led by Mars Growth Capital with participation from existing backers.
"Reaching profitability while maintaining significant growth demonstrates the strength of our business model and our long-term vision. This success is a testament to the dedication and hard work of our entire team."
The Series D round values the payments infrastructure provider at $1.4bn and includes participation from several existing investors.
"The opportunity in software is enormous, with tens of thousands of incredibly innovative businesses bringing great products to market every year. Unfortunately, many SaaS companies still find their growth hindered by the operational challenges that arise when scaling; from handling subscriptions management or tax compliance to localizing payment options in every market. Paddle was created to remove these invisible barriers so that SaaS companies can just focus on building and selling software. 2021 was a fantastic year for us, but we are only just getting started. We have big plans for 2022 and beyond and we’re delighted to have the backing of so many fantastic investors who all share our vision."
