SaaSOptics sees merger and rebranding as a way to “maximize” SaaS B2B subscriptions
SaaSOptican Atlanta-based company B2B subscription management platform start-up partners with Texas-based company Load.
Under the new name, Maxio, the team will seek to be an all-in-one revenue management and advanced subscription billing solution for growing businesses. It’s a strategic move as B2B SaaS companies look for better revenue management options, the team told Hypepotamus.
“When Chargify and SaaSOptics first came together, we knew our new vision was very unique. It’s not just about two companies joining forces; it’s a case of 1+1=3,” said Jonathan Dew, director of integrated marketing at Maxio. “So, as we unify our mission, purpose and people, we have also decided to adopt a new name: Maxio. The strong “X” in the center of this word illustrates these two teams, products and companies multiplying each other’s strengths to create something even bigger and better than the sum of its parts. When you look at the first part of the new name, you see the word Max which is associated with Maximize: to increase to the maximum or degree possible, to make the greatest or fullest use of it. This is what users of our products can expect.
The merger means Maxio manages $10 billion in annual recurring revenue for customers.
SaaSOptics and Chargify were founded in 2009 and received a $150 million growth capital investment by Battery Ventures this time last year.
Brandy Gaskinsmarketing communications manager at Chargify, told Hypepotamus that the investment in the two “complementary platforms” was what initially connected the two subscription-focused startups.
Tim McCormick, CEO of SaaSOptics, and Chris Weber, President and COO, will assume leadership of the brand.
Ahead of Battery Ventures’ 2021 investment, SaaSOptics recently raised a $12 million Series B in late 2019, led by Atlanta-based Fulcrum Equity Partners.
Other Southeast-based investors over the years included Service Provider Capital, Duke Angel Network and several notable angel investors, according to data available from Crunchbase.
The team currently numbers over 260 people with offices in Texas, Georgia, Ireland and Poland. The team plans to add an additional 115 new positions this year to help scale.