HubSpot to Add Subscription Billing Management Tools With Cacheflow Acquisition
HubSpot plans to add subscription billing management and configure, price, quote (CPQ) tools by acquiring Cacheflow.
When the transaction is completed, Cacheflow will become a wholly owned subsidiary of HubSpot, the companies said in a Friday (Oct. 11) press release.
“With Cacheflow, we’re doubling down on our vision for commerce by addressing two important areas of the buying experience: subscription billing and configure, price, quote (CPQ),” HubSpot CEO Yamini Rangan said in the release. “Cacheflow is a leader in this space and has helped companies automate the purchase process to capture revenue faster.”
Cacheflow’s solutions simplify the selling and buying of B2B software by automating the software-as-a-service (SaaS) sales flow process in a single, no-code platform, according to the release. It helps users configure quotes, close deals using interactive links, and upsell and renew customers.
As part of HubSpot, Cacheflow will enhance that company’s Commerce Hub by facilitating quote-to-cash and revenue collection, thereby improving the buying process, the release said.
Launched by HubSpot in 2023 with simple invoicing and payments, Commerce Hub has since processed over $1 billion in gross merchandise value (GMV), per the release. The provide helps users manage payments and unify their customer and transaction data.
Cacheflow Co-founder Sarika Garg said in the release: “We made it our mission to reimagine the old CPQ and billing space, helping businesses automate revenue management, shorten the sales cycle and get paid fast. We believe deeply in the power of our solution, and are thrilled to join HubSpot and the Commerce Hub team.”
This planned acquisition is the latest of several moves HubSpot has made to expand its offerings.
The company unveiled an artificial intelligence (AI)-powered platform called Breeze in September, saying it aims to address growing challenges that go-to-market (GTM) teams face in an increasingly digital landscape.
In April, HubSpot partnered with Stripe to help small merchants transition to digital payments and figure out the relevant processes.
In November, HubSpot acquired B2B intelligence firm Clearbit, saying the transaction will enhance HubSpot’s customer intelligence capabilities by incorporating rich third-party company data into its system and will enable its clients to grow with industry-leading insights.
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