2017 has been a great year for Paddle. We were named the 6th fastest growing company in the UK, went from 15 to 40 awesome people, served over 500 software businesses and helped them make the most out of Black Friday, made some serious performance improvements, improved our desktop analytics and shipped a lot of features.
Today, I’m excited to announce that we’ve raised $12.5m in additional funding. Notion, a fund which specialises in enterprise technology, led the Series B round, and was joined by previous investors BGF Ventures and Kindred Capital. MacPaw, a leading independent Mac software developer who we’ve worked with for years, also invested.
I’m also really excited that our new investors, MacPaw and Notion, are people who understand what it takes to build a great product. MacPaw have a tremendous reputation for their many software products, from CleanMyMac to Setapp. Notion are specialists of subscription software and enterprise technology, and are in it with us for the long term.
Since we started Paddle 5 years ago, we’ve been on a mission to fundamentally change the way that software companies sell their products.
It’s currently a complex process for software developers, who need to piece together systems from many different companies. Each provide a different piece of the puzzle: trials and licenses; insights and analysis; payments; taxes and VAT, etc.
All of this leads to a fragmented stack that software businesses have had to build and maintain over the years, instead of solely focusing on what truly matters: building their own products.
We’ve overcome these problems by creating a powerful unified commerce platform, bringing everything that’s needed to sell software under one roof whilst allowing developers to grow their revenue.
But this is just the beginning: this additional funding will allow us to double down on our ambition to become the operating system for software companies. We will use it to rapidly scale our team, iterate on our existing platform even quicker and invest in new features that focus on insights and integrations for existing and new vendors.
Thanks to everyone who’s helped and believed in us so far: vendors, employees, investors, friends… This has been a great year for us, and we can’t wait to see what’s in stock in 2018!