ProfitWell, a revenue automation product company has been acquired by Paddle, a cross-border payment service provider for global start-ups, emerging markets, and enterprises such as SaaS firms. This acquisition will empower Paddle to help companies globally to eradicate their growth barriers.
Christian Owens, CEO and Co-Founder, Paddle, said, “Paddle and ProfitWell share a common goal: maximising our software customers’ revenue by taking care of the operational and financial obstacles that cost unnecessary time and manpower. Both companies aim to ‘do it for you’ rather than just help you solve it. That’s why we’re thrilled to announce we’re acquiring ProfitWell. Having created the number one subscription metrics product in the market and cemented its reputation as a renowned authority on revenue growth in the $400 billion SaaS industry, ProfitWell will add considerable value to our offering. We couldn’t be more excited to have Patrick and the team on board, helping us achieve our mission of running and growing SaaS businesses automatically.”
Subscription providers with the integration of pricing and retention and financial metrics software of ProfitWell into their businesses can now access the benefits of Paddle’s services, such as reporting, retention, payments, taxes, and pricing. More than 30K companies across 100 countries use the suite of tools of ProfitWell for analysing their subscription business model.
Both companies to make most of the new software boom will use the “do it for you” approach. This approach is based on problem caring aspects rather than offering resources to resolve it, and hance subscription companies will be able to focus on their team, consumers, and product’s strengths.
Patrick Campbell, CEO and Founder, ProfitWell, stated, “At ProfitWell, we’re committed to supercharging revenue growth for some of the most exciting, forward-thinking businesses on the planet, and by joining forces with Paddle, we see an opportunity to do even more. Paddle shares our mission to help thousands of software businesses avoid the operational hurdles that stand in the way of growth by taking these problems on completely ourselves. Those shared objectives, combined with the natural, cultural fit between our two companies, meant adding our subscription metrics and retention tools to the offering just made perfect sense. We’re delighted to have the opportunity to bring our teams together to build a truly holistic, powerful payments infrastructure at the heart of the SaaS market.”