Under the new name, Maxio, the team will look to be an all-in-one revenue management and advanced subscription billing solution for scaling businesses. It’s a strategic move as B2B SaaS companies look for better revenue management options, the team explained to Hypepotamus.
“When Chargify and SaaSOptics first came together, we knew our new vision was entirely unique. This isn’t just two companies joining forces; it’s a case of 1+1=3,” said Jonathan Dew, Maxio’s Director of Integrated Marketing. “So, as we unified our mission, purpose, and people, we 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 greatest possible amount or degree, to make the greatest or fullest use. This is what users of our products can expect.”
The merger means Maxio is managing $10 billion in customer annual recurring revenue.
Both SaaSOptics and Chargify were founded in 2009 and received a combined $150 million growth equity investment by Battery Ventures this time last year.
Brandy Gaskins, Marketing Communications Manager at Chargify, told Hypepotamus that the investment in the two “complementary platforms” was what initially connected the two subscription-focused startups.
SaaSOptics’ CEO Tim McCormick and Chris Weber, President and COO will assume leadership over the brand.
Prior to the 2021 investment by Battery Ventures, SaaSOptics most 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 available Crunchbase data.
The team is currently 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.