RevenueCat Raises $50M to Expand Beyond Mobile App Monetization

RevenueCat, a prominent player in the mobile app economy, has raised $50 million in a Series C funding round led by Bain Capital Ventures. The company, which provides subscription management for over 70,000 mobile apps, plans to expand its offerings beyond mobile app monetization. Following a favorable legal ruling in the Apple-Epic antitrust case, RevenueCat is positioned to assist developers with web-based payments in accordance with new App Store guidelines. CEO Jacob Eiting envisions a future for RevenueCat that mirrors the growth trajectory of e-commerce platforms like Shopify. With a post-money valuation of $500 million, the company is also eyeing potential mergers and acquisitions to fuel its development. RevenueCat seeks to address broader issues in the app development sector, such as customer acquisition challenges posed by Apple's anti-tracking technology and offering financial solutions for cash-strapped apps. The recent funding boosts the company's total to $100 million, providing resources for new product development and scaling its engineering and product teams.