RevenueCat Secures $50M to Power Expansion Beyond Mobile App Monetization
A New Chapter for the Mobile Monetization Leader
RevenueCat, a major player in the mobile subscription economy, has taken a significant step forward with a fresh $50 million Series C funding round. Known for its powerful tools that support over 70,000 mobile apps, RevenueCat is now turning its attention to broader challenges in the app development world.
With its platform now supporting one in every three new subscription apps, the company is leveraging its dominant market position to help developers navigate issues beyond subscriptions, including web-based payments and customer acquisition.
Investors Back Broader Vision
The new funding round was led by Bain Capital Ventures, marking their first formal investment in RevenueCat, although Bain’s Mark Fiorentino had previously invested while at Index Ventures. Other returning investors include Index Ventures, Y Combinator, Adjacent, Volo Ventures, and SaaStr Fund. This latest raise extends last year’s $12 million Series C, bringing the total capital raised to $100 million. Post-money, the company now holds a valuation of $500 million.
“With where we’re at, this gives us room to grow… I think we can build a public-scale company,” said CEO Jacob Eiting in an interview with TechCrunch.
Expanding Beyond Subscriptions
Initially focused on simplifying subscription integration for developers, RevenueCat’s next phase will target a broader set of mobile development challenges. Eiting likens the company’s evolution to Shopify’s journey, expanding from a storefront platform to a comprehensive e-commerce solution.
“We know a lot about this industry,” Eiting noted. “There are a ton of commonalities between all these businesses… common problems that go unsolved. We’re in a position to solve those now.”
Future plans include tools for customer acquisition—a growing concern after Apple’s App Tracking Transparency (ATT) changes—and financial products like lending solutions to support app developers with cash flow issues.
Innovating Web Payments in a Post-Epic World
Following the Apple-Epic court ruling that allows U.S. developers to direct users to external payment systems, RevenueCat is helping developers determine whether and when to adopt web-based payments. The company launched its web billing engine in beta last fall, a product now competing with the likes of Stripe, Recurly, and Chargebee, but specifically tailored for mobile app needs.
Currently, more than 2,000 developers are using the billing service. Alongside tools, RevenueCat provides strategic insights by running controlled experiments via Dipsea, a consumer-facing app it acquired. These experiments evaluate the impact of billing model changes on revenue and operational risk.
“I’m just happy that we can actually do the experiment, because I don’t think Apple’s done it,” Eiting told TechCrunch. “I’m excited to finally get some data, finally settle the debate — or at least enrich the debate.”
AI-Driven Growth and the Rise of “Vibe-Coded” Apps
RevenueCat is also responding to the growing influence of AI in app development. The company supports payments for AI-powered apps such as OpenAI’s ChatGPT and is witnessing a surge in apps built with AI assistance.
Eiting shared a striking example: “The kid can’t program, but in two months built an app,” referencing a student who used AI tools to create an app after a career day introduction. “When I think about what my journey was to get to that point — his was massively compressed. And that’s going to have effects on the economy in ways we can’t really even understand at the moment.”
Fueling the Future
The newly raised funds will be used to enhance RevenueCat’s engineering and product teams, launch new products, and explore strategic mergers and acquisitions.
“I think we’ve actually gotten pretty good at building targeted engineering and product teams to go after things. And we want to scale that as much as possible,” said Eiting.
As the company sets its sights beyond mobile monetization, it remains rooted in the mission of solving the most pressing problems faced by today’s—and tomorrow’s—mobile developers.
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