Connect with us

Technology

Paddle acquires ProfitWell to automate payments infrastructure for SaaS companies

Published

on

Over 30,000 companies including Canva, Autodesk, Masterclass, and Notion use Boston-based ProfitWell’s free subscription financial metrics and automatically optimize their pricing and reduce their cancellations using ProfitWell’s other productsAll ProfitWell employees across the US and Argentina will join Paddle, with CEO Patrick Campbell joining the board and becoming Paddle’s new Chief Strategy OfficerThe deal was valued at over $200m in cash and equity and is Paddle’s first acquisition following its recent $200m Series D fundraise in April, which valued the firm at $1.4bn

LONDON, May 25, 2022 /PRNewswire/ — Paddle, the complete payments infrastructure for SaaS companies, today announces it has acquired ProfitWell, the leading provider of subscription metrics and retention automation software. The deal – valued at over $200m in cash and equity – is the next step in Paddle’s 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, the combined business 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.

ProfitWell is a Boston-headquartered subscription revenue automation company, 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 analyse 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 the 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 bring world-class subscriptions intelligence to Paddle’s customers for free, and further solidify the firm’s foothold in the US following the recent opening of its New York office.

The acquisition will be funded via Paddle’s recent Series D fundraise, and will see ProfitWell continue to operate under its existing brand for the foreseeable future as the two companies work to integrate their respective products throughout 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 Chief Revenue Officer Peter Zotto will join the commercial leadership team at Paddle while continuing in his role for ProfitWell.

Paddle’s complete payments infrastructure for SaaS – which integrates checkout, payment, subscription management, and financial compliance processes – is used by over 3,000 software companies including BlueJeans by Verizon, MacPaw, Framer and TailwindLabs. Paddle’s acquisition of ProfitWell follows a milestone year in 2021, which saw the company more than double its revenue growth, scale its team from 140 to 275, make senior hires including a new CMO, and announce the world’s first alternative In-App Purchasing (IAP) system for iOS developers. It also follows Paddle’s $200m Series D funding round in April of 2022, which valued the startup at $1.4bn.

Christian Owens, CEO and co-founder of 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 $400bn 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.”

Patrick Campbell, CEO founder of ProfitWell, added:

“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.”

About Paddle:

Paddle, the payments infrastructure provider for B2B SaaS companies powers hyper-scale growth across acquisition, renewals and expansion. With Paddle, companies are finally able to transform their payments infrastructure into a strategic growth lever to respond faster and more precisely to every growth opportunity. Paddle has 275 employees serving over 3,000 software sellers in 245 countries and territories globally. Backed by investors including KKR, FTV Capital, Kindred, Notion, and 83North, Paddle aims to define the next wave of B2B SaaS leaders. Visit www.paddle.com or www.twitter.com/PaddleHQ for more information.

About ProfitWell:

ProfitWell helps subscription companies with revenue automation by providing turnkey tools that automatically reduce cancellations and optimize their monetization. ProfitWell’s free subscription financial reporting is also the leader in the industry, serving over 30,000 B2B and B2C subscription companies, including Autodesk, Canva, Masterclass, and Asics. ProfitWell has 90 employees across offices in Boston, Salt Lake City, and Rosario. They’re also completely customer funded, meaning they haven’t raised any money from investors or financial institutions. Visit https://www.profitwell.com/ for more information.

Video – https://www.youtube.com/watch?v=Qqw41_tRv4E

Photo – https://mma.prnewswire.com/media/1825583/Paddle_172__1.jpg

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

CES 2025 Preview: TESSAN to Showcase Charging Solutions for Enhanced Connectivity and Convenience

Published

on

By

LAS VEGAS, Dec. 24, 2024 /PRNewswire/ — The leading charging solution provider TESSAN has announced its participation in CES 2025, where it will present its latest innovations designed to enhance connectivity and convenience for users. Visitors can explore the brand’s new offerings at Booth 30562 in the Las Vegas Convention Center, South Hall 2.

“Tessan aims to be a reliable companion for users in their lives and travels, ensuring that they stay connected at home or on the go. Participating in CES 2025 is also an opportunity for us to deepen the connection with more users, offering them a tangible experience of our commitment to innovation and sustainability,” said Alex, CEO of TESSAN.

At the heart of TESSAN’s showcase are products that reflect its core values: simplicity and convenience, innovation and efficiency, as well as sustainability. Every product is designed with a user-centric approach, integrating advanced technologies and sustainable practices to meet modern demands.

A highlight of the exhibit will be the 140W Universal Travel Adapter, designed for global use with EU, UK, US, and Australian plugs. Its lightweight, compact design makes it travel-ready. USB-C ports offer up to 140 watts for fast charging, while USB-A ports provide 18 watts. It can charge multiple devices simultaneously, including smartphones, laptops, cameras, and CPAP machines. Advanced safety features, like double-patented auto-resetting fuses, ensure secure operation.

Another innovation on display is the 100W Charging Station. Compact and designed to save space, this multi-functional device can charge up to nine gadgets simultaneously at high speed. Its sleek upright design combines style with functionality, while robust safety measures safeguard devices from overcurrent, voltage surges, and overheating, ensuring uninterrupted charging around the clock.

For electric vehicle owners, TESSAN will showcase its Level 2 Smart EV Charger, a high-performance charging solution that delivers up to 11.5kW/h, offering remote control via Wi-Fi or Bluetooth, off-peak scheduling, and adjustable currents. Compatible with most North American electric and plug-in hybrid vehicles, its SAE J1772 connector and water-resistant, fireproof design ensure safety and reliability.

These innovative products have not gone unnoticed in the industry. In May 2024, TESSAN was recognized at the MUSE Design Awards, earning gold and silver honors for its Intelligent Charging Set, multi-functional fast charging socket, and Household EV AC Charger. These accolades reflect the brand’s dedication to blending exceptional design with cutting-edge functionality, resonating with users worldwide.

Beyond technology, TESSAN remains deeply committed to environmental sustainability. In August 2024, the brand received ClimatePartner certification, signifying its alignment with eco-friendly practices. Most recently, it announced a collaboration with the non-profit organization One Tree Planted, launching an initiative to plant 10,000 trees as part of its efforts to mitigate climate change and support global reforestation.

As a brand committed to empowering users to explore the unknown while safeguarding the planet, TESSAN continues to lead through innovation, sustainability, and meaningful action. CES 2025 promises to be an exciting opportunity for audiences to witness these values brought to life.

About TESSAN

TESSAN, a trusted partner in charging solutions, is committed to enriching experiences both at home and during travel. The brand offers a wide array of products, including multifunctional power strips, travel adapters, wall extenders, and smart home devices. Supported by a robust R&D and production team, TESSAN develops innovative socket products for users across the globe. With the trust of over 20 million users, TESSAN empowers their journeys from home to every destination, promoting environmentally conscious electricity usage.

For more information, visit www.tessan.com or the TESSAN Amazon store, and follow TESSAN on Facebook, Instagram, and YouTube.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ces-2025-preview-tessan-to-showcase-charging-solutions-for-enhanced-connectivity-and-convenience-302338829.html

SOURCE TESSAN

Continue Reading

Technology

TESSAN Teams Up with One Tree Planted to Launch Global Tree Planting Initiative

Published

on

By

SHELBURNE, Vt., Dec. 24, 2024 /PRNewswire/ — The leading charging solution provider TESSAN has announced a new initiative to plant 10,000 trees across the United States and beyond. Through its collaboration with One Tree Planted, a non-profit organization dedicated to global reforestation, TESSAN showcases its long-term commitment to environmental sustainability and climate action as a climate-friendly brand.

Alex, the CEO of TESSAN, emphasized the brand’s dedication to fostering meaningful connections, not only between people and places but also between humanity and the planet. “We are excited to join One Tree Planted to make contribution to global reforestation,” said Alex. “Our journey at TESSAN is not just about creating innovative charging solutions. It is about establishing meaningful connections, and planting trees is one of the most direct actions to forge this bond. Through our collaboration with One Tree Planted, we aim to strengthen our connection with the Earth and encourage travelers using our products to seize every opportunity to engage in climate action, truly exploring the world and building a green connection with the planet.”

One Tree Planted is committed to global tree planting and forest restoration efforts. The organization operates with a mission to engage transparently and effectively in worldwide forest conservation by planting one tree for every dollar donated. Their initiatives span the globe, striving to enhance ecosystem sustainability.

The shared vision between TESSAN and One Tree Planted has brought their collaboration to reality. TESSAN consistently prioritizes its responsibility to protect and maintain resources for future generations. In August, TESSAN received ClimatePartner certification, elevating its dedication to sustainability by assessing the carbon footprint of its products, setting targets for emission reduction, and persistently striving to meet these objectives.

Even before this certification, TESSAN has been dedicated to reducing carbon emissions by integrating sustainability principles throughout its product lifecycle. The company promotes a low-carbon lifestyle, encouraging eco-friendly practices in product development and employee habits.

Moreover, in partnership with ClimatePartner, TESSAN has backed a biogas initiative in Nepal, effectively neutralizing 386 tons of CO2 equivalent. This project transforms cow manure combined with water into biogas via anaerobic digestion, substituting firewood for cooking and aiding in the reduction of deforestation.

TESSAN has long championed climate action within the travel charging industry. Its sustainability efforts encompass eco-friendly product designs crafted from recycled and biodegradable materials, green manufacturing processes that prioritize energy efficiency and waste reduction, and sustainable packaging made from environmentally friendly materials. The company also emphasizes transparency in its supply chain to encourage responsible sourcing practices.

TESSAN’s brand philosophy, “The Journey Begins at Home,” underscores the importance of protecting and preserving the planet as it is everyone’s home. Through compact product designs, minimalist packaging, and the use of renewable materials, TESSAN is dedicated to promoting the belief in “Charging for a Greener Future” to travelers around the globe. With a global user base exceeding 20 million, the brand’s vision of a climate-friendly journey continues to gain widespread acceptance.

About TESSAN

TESSAN, a trusted partner in charging solutions, is committed to enriching experiences both at home and during travel. The brand offers a wide array of products, including multifunctional power strips, travel adapters, wall extenders, and smart home devices. Supported by a robust R&D and production team, TESSAN develops innovative socket products for users across the globe. With the trust of over 20 million users, TESSAN empowers their journeys from home to every destination, promoting environmentally conscious electricity usage.

For more information, visit www.tessan.com or the TESSAN Amazon store, and follow TESSAN on Facebook, Instagram, and YouTube.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tessan-teams-up-with-one-tree-planted-to-launch-global-tree-planting-initiative-302338830.html

SOURCE TESSAN

Continue Reading

Technology

Passive Bitcoin Income: The Best Cloud Mining Platforms for Reliable Earnings

Published

on

By

A guide to short-term Bitcoin mining, featuring BitFuFu, ZT Mining, and Hashing24 for flexible contracts and quick profits.

READING, England, Dec. 24, 2024 /PRNewswire-PRWeb/ — Engaging in bitcoin mining presents an accessible and potentially lucrative venture for those intrigued by digital currencies but reluctant to endure the complexities and long timelines associated with traditional investment routes.

Short-term mining contracts are popular among beginners as they look to improve their understanding of the market. These contracts range from as brief as a day to several months, offering immediate entry into the mining scene without the long-term entanglements.

The appeal of short-term bitcoin mining is magnified by the ease of access to these services. Legit cloud mining platforms give individuals the opportunity to lease mining power remotely and eliminate traditional obstacles such as acquiring and maintaining hardware. Investors simply select a mining plan that aligns with their financial objectives and risk tolerance, and the platform handles the operational complexities

BitFuFu Cloud Mining

BitFuFu offers a diverse range of contracts, from short to medium-term, tailored to different risk appetites and investment levels. For those looking for quick, low-risk ventures, the Easy Mining plans range from 3 to 50 days, with a starting investment as low as . These plans are ideal for newcomers wanting to dip their toes in mining without significant upfront costs. For example, the Easy Mining 3 Days plan, with an estimated acquisition cost of 5,602.2, starts investments at , promising a low-risk and low-return profile.

On the other hand, BitFuFu’s Pro Mining contracts target more seasoned miners looking for higher returns, albeit with higher risks. The Pro Mining S19 XP 30 Days plan, for instance, boasts a 107.48% return, indicative of the lucrative possibilities for those willing to invest more heavily in their mining endeavors.

ZT Mining

ZT Mining lets you mine over ten different cryptocurrencies like Bitcoin, Dogecoin, Monero, and Zcash. This means you can pick and choose and not just stick to one kind, making it fun to try out different ones. They also make sure everything is super safe. They use special security to protect your information and have strong defenses against online attacks, so everything runs smoothly without any interruptions.

ZT Mining is really cool because it has lots of different mining contracts that can last just a day or even longer, so you can see how much money you can make in a short time or a bit longer. They have a special starter package for only $35, and it’s just for one day. If you try this, you’ll get $36 back the next day, which means you make a $1 profit.

That’s pretty awesome for just a day’s work, right? Plus, if you feel like going bigger, they have longer plans where you can earn a lot more money, like the 15-day plan for mining Dogecoin that can make you thousands in profit!

Hashing24

Hashing24 makes it easy to get into bitcoin mining with its straightforward contracts that last anywhere from 3 to 24 months. Every contract has a steady hash rate of 60 MH/s, perfect for those who want a predictable and simple mining experience.

For those just starting out or looking for a short-term investment, Hashing24’s 3-Month Plan is a great entry point. It’s priced at $22.20 and offers an estimated mining return of $22.21, essentially allowing you to make back your initial investment quickly. It is ideal for testing the waters of cloud mining without committing to a long-term plan.

Investors aiming for substantial long-term gains will find the 24-Month Plan an excellent option. Priced at $111.60, it offers a projected return of 159%, appealing to those prepared to commit to a longer investment period for significant earnings.

Conclusion

Picking the right cloud mining platform is super important if you want to make money with Bitcoin without doing much work. Platforms like BitFuFu, ZT Mining, and Hashing24 have different plans that last for various times and cost different amounts of money. This means you can find one that fits what you’re comfortable with, whether you’re just getting started with cryptocurrency or you want to make a lot of money. By choosing the best plan for you, you can make your money work for you and watch as it grows over time.

Media Contact

Nancy.Delia, ZT CLOUD SERVICES LIMITED, 44 7301463290, support@ztmining.com, https://ztmining.vip

View original content to download multimedia:https://www.prweb.com/releases/passive-bitcoin-income-the-best-cloud-mining-platforms-for-reliable-earnings-302338359.html

SOURCE ZT Mining

Continue Reading

Trending