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RevenueCat Raises $50M Series C to Expand Global Infrastructure for Consumer Software Monetization
[May 22, 2025]

RevenueCat Raises $50M Series C to Expand Global Infrastructure for Consumer Software Monetization


RevenueCat, the leading platform for managing consumer app monetization, today announced it has raised a $50 million Series C round led by Bain Capital Ventures (BCV). Returning investors Index Ventures, Y Combinator, Adjacent, Volo Ventures and SaaStr Fund also participated. This adds to the prior $12 million Series C that was raised last year, bringing the total raised to $100 million to date.

"RevenueCat is at a genuine inflection point," said Mark Fiorentino, who led RevenueCat's Series A at Index Ventures in 2020 and recently joined Bain Capital Ventures. "They've quietly become critical infrastructure for the mobile economy - now, as the lines between apps, AI, and the web blur, they're uniquely positioned to grow into one of the most important companies powering consumer software. I'm thrilled to be doubling down."

Building a robust monetization stack can be notoriously challenging. For developers, code can be hard to write, time-consuming to maintain and full of edge cases. For product and marketing teams, having a full view of business performance is hard to find and adjust in one place. RevenueCat enables engineers to build features simply, plus provides analytics, integrations and tools to grow. Product and marketing teams can obtain deep customer analytics to make data-driven decisions and grow revenue, with tools to manage pricing, customers and experiments. In turn, consumers can easily pay anywhere and access their purchases from every device.

Key Achievements and Momentum

  • Powering over one-third of all new subscription apps worldwide: In the last three months alone, more than one out of every three subscription apps that debuted on iOS or Android, worldwide, shipped with RevenueCat under the hood. Altogether, more than 50,000 apps now rely on RevenueCat to manage subscriptions, consumables, lifetime purchases, and-newly-virtual currencies, making it the go-to platform for developers looking to monetize their product.
  • Surging growth: The rate of new apps integrating RevenueCat has morethan doubled in the last six months, fueled by the rise of AI-driven consumer apps.
  • Continued product innovation: Recent launches include Paywalls, a drag-and-drop paywall editor that lets developers build, configure, deploy, and test paywalls without touching code; Web Billing for off-app store transactions; and virtual currency support - an increasingly popular approach to monetization in AI and gaming.
  • Looking beyond subscriptions: The company plans to expand further into fintech, solving developer cashflow constraints caused by net-45 app store payout cycles. RevenueCat also plans to roll out features that help developers acquire users, optimize conversions and boost retention - a holistic approach to running a thriving consumer app.

"Developers deserve a frictionless way to make money, and nobody has approached this with our level of focus," said Jacob Eiting, CEO and co-founder of RevenueCat. "We're already assisting more annual app revenue than existed in the entire ecosystem when we started in 2017. The market has grown 10x, and I expect another 10x over the next decade. By staying radically focused on helping developers get paid, I believe we can build a generational public company."

RevenueCat's rapid product expansion means the company is well-posed to help apps navigate changes in consumer software monetization. Given the recent ruling that developers may now use non-in-app-purchases in the USA on iOS, there's an opportunity to save significant money in platform fees by sending users to a web checkout page instead. In response to this major mobile monetization development, RevenueCat shipped its Web Paywall Button, giving developers a drop-in way to A/B-test external payments versus in-app purchases while easily targeting eligible users.


Real-World Impact

RevenueCat now processes over $8 billion in annual transactions, powering monetization for standouts such as OpenAI's ChatGPT, Notion, VSCO and Runna (recently acquired by Strava). By offloading billing complexity, customers slash engineering effort - fitness app Ladder estimates needing 30-45% less backend code:

"After the initial implementation, we rarely need to dedicate development hours to our purchase infrastructure," said Greg Stewart, CEO of Ladder. "RevenueCat is a core part of our technology stack, and is used across the entire organization."

Remote-First, Radical Compensation

RevenueCat's global, remote-first team now spans 18 countries and counts over 100 teammates. The company pays U.S. market salaries worldwide, attracting top talent regardless of location. "Some folks thought this wouldn't scale, but we're nearing $50 million in revenue run-rate and close to breakeven," Eiting said. "We hire people who are both extremely talented and radically committed to our mission of helping developers make more money. As long as we do that, we'll continue to thrive." View open roles at rev.cat/jobs.

With fresh capital in hand, RevenueCat plans to scale product development and make strategic hires to meet booming developer demand across AI, gaming, productivity and beyond.

About RevenueCat

RevenueCat is the leading platform for consumer app monetization. Developers use RevenueCat to easily build, manage, and grow their businesses across iOS, Android, and the web - handling billing, analytics, and conversion optimization for subscriptions, consumables, lifetime purchases, and virtual currency. Today, over 50,000 apps use RevenueCat to power their revenue, including top names like ChatGPT, Notion, and ClassDojo. Learn more at revenuecat.com.


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