Just off the back of our Series D fundraise, we’ve got some more news. Today, we’re thrilled to share that we have acquired ProfitWell, the leading provider of subscription metrics and retention software.
The deal - valued at over $200m in cash and equity - is the next step in our mission to remove the barriers to growth for SaaS companies around the world.
By integrating ProfitWell’s industry-renowned free financial metrics, as well as its pricing and retention software, subscription businesses will now be able to plug into Paddle and have their taxes, payments, billing, reporting, retention, and pricing all done for them. Together, we will use this “do it for you” approach to capitalize on the new wave of software that focuses on taking care of the problem instead of providing the tools to solve it, allowing subscription businesses the bandwidth to focus on what’s important - their product, team, and customer.
A match that makes sense
ProfitWell is a Boston-headquartered subscription metrics software provider, founded in 2012 by Patrick Campbell. Over 30,000 businesses in more than 100 countries, including Canva, Autodesk, Masterclass, and Notion, use ProfitWell’s suite of tools to analyze their subscription business before automating their pricing and retention efforts to support growth. ProfitWell’s Metrics product is the number one real-time subscription reporting product on the market. Retain is an industry-leading automatic churn reduction tool, and Price Intelligently is synonymous with optimizing SaaS and subscription pricing. With both companies committed to the “do it for you” philosophy when it comes to the billing stack for SaaS businesses, the acquisition will seamlessly add world-class subscriptions intelligence to Paddle customers for free.
From the beginning, Paddle and ProfitWell have shared a common goal: maximizing revenue for businesses by taking care of the operational and financial obstacles that are costing countless software sellers unnecessary time and manpower every year.
ProfitWell will add huge value to our offering. We couldn’t be more excited to have Patrick and the team on board helping us achieve our mission of powering growth for SaaS businesses everywhere.
We’ll be working to integrate our two companies and our respective products throughout the remainder of 2022.
All employees and offices across Boston, Salt Lake City and Rosario will be retained, and a number of senior executives will join Paddle’s leadership team; Patrick Campbell, CEO of ProfitWell, will become Paddle’s Chief Strategy Officer; CPO Facundo Chamut will become Chief Product Officer; and General Manager Peter Zotto will join the commercial leadership team at Paddle while continuing in his role for ProfitWell.