Accel-KKR Buys Majority Stake In Recurly
|Recurly CEO Dan Burkhart.
Photo credit: Recurly
Private equity venture Accel-KKR has purchased a majority stake in Recurly, a San Francisco-based fintech upstart that helps companies manage their recurring subscriptions. Financial terms of the deal weren’t disclosed. The acquisition comes on the heels of a momentous year for Recurly, which reported a 38% year-over-year increase in its number of active subscriptions under management and a 210% year-over-year growth in net new bookings. Over the past year, Recurly has also expanded its platform to be compatible with 18 languages and more than 140 currencies.
Before now, Recurly is known to have raised $39 million in funding. Previous investors in the company include the likes of Greycroft, e.ventures, Fidelity, and Eight Roads Ventures. Currently, more than 2,100 businesses rely on Recurly to help manage their recurring subscriptions and billings. The company, which was founded in 2010, currently employs over 240 persons.