AI-first customer tracking platform Trainn has been acquired by Chargebee, a software company that helps businesses manage revenues and aid in customer retention.
As the Tiger Global-backed company ramps up its AI efforts, this is Chargebee’s second acquisition in roughly a month. In order to incorporate AI into its daily offerings, it previously purchased Inai, a company that offers software for tracking and managing payments.
Chargebee claims that this acquisition offers Trainn and Chargebee a fantastic chance to work together to further our common goal of using Al to empower customers in a market that is changing quickly and driven by innovation.
200 Trainn customers will now be Chargebee customers as a result of the acquisition. Trainn contributes his intense focus on developing and expediting Al-based solutions. Established in 2020, Trainn raised $700k (approximately Rs 6 crore) in its seed round from Speciale Invest and other investors.
“The payments market is diversifying with new payment methods, embedded payments, digital wallets, buy now and pay later options, real-time payments, and the use of Al to improve customer experience and drive new business. The burden of monitoring all the performance and details is on the customers’ infrastructure today,” said Subramanian, CEO of Chargebee.
After raising $250 million in its Series H round in February 2022, Chargebee was valued at $3.5 billion. Tiger Global, Peak XV, Insight Partners, Sapphire, and Steadview Capital are some of its principal investors.
