RevenueCat, the subscription infrastructure startup behind over 50,000 mobile apps, has raised $50 million in a Series C round led by Bain Capital.
With returning investors like Index Ventures, Y Combinator, and SaaStr Fund also participating, this latest raise brings the company’s total funding to $100 million and pushes its post-money valuation to $500 million.
Initially known for helping developers implement in-app subscriptions without writing complex code, RevenueCat now plans to expand its offering. The company is building tools to support other developer needs, including customer acquisition, lending, and web payments—especially in the wake of changes to Apple’s App Store rules following the Epic Games ruling.
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Building a broader platform for mobile developers
CEO Jacob Eiting compared RevenueCat’s evolution to Shopify’s journey from storefront builder to full-stack e-commerce platform. “There are a ton of commonalities between all these businesses… We’re in a position to solve those now,” he said.
The company is already rolling out features like a drag-and-drop paywall editor, tools for managing virtual currencies, and deeper insights to help developers decide when to enable web billing. RevenueCat’s web billing engine, currently in beta, competes with platforms like Stripe and Chargebee but is optimized for mobile-first use cases.
Real-world testing and AI on the horizon
To better understand developer needs, RevenueCat is testing its payment tools through a consumer-facing app it acquired, Dipsea. These experiments help model costs and benefits of shifting away from Apple’s 15–30% commission structure—critical data for developers navigating new web billing freedoms.
AI is also playing a growing role. Eiting noted that more apps are being developed by non-technical founders using AI-powered coding tools. That shift opens up new opportunities for RevenueCat to support an even wider base of app creators.
Next steps: Hiring, acquisitions, and scale
With the fresh capital, RevenueCat plans to grow its team, develop new features, and explore M&A opportunities. The company sees a clear path to building a public-scale business by becoming the go-to operating system for mobile monetization and beyond.
“We’ve gotten good at building focused teams to go after specific problems,” said Eiting. “Now, we want to scale that as much as possible.”
