HubSpot has finalized its acquisition of subscription billing management and configure, price, quote (CPQ) start-up Cacheflow.
With it being reported earlier this month that a deal was imminent, it has now been officially confirmed that Cacheflow is a wholly-owned subsidiary of HubSpot.
The start-up will be integrated as an offering within HubSpot’s Commerce Hub, providing the latter with “domain expertise in billing and CPQ.”
These fresh capabilities and know-how will allow the vendor to address what Yamini Rangan, CEO of HubSpot, outlined as the two biggest challenges currently impacting a company’s buying experience: simplifying quote-to-cash processes and collecting revenue faster.
“In 2023, we launched Commerce Hub based on the belief that, for businesses to grow, they not only need customer data but also need transaction data,” Rangan explained.
By acquiring Cacheflow, we’re doubling down to provide subscription billing management and robust configuration, pricing, and quoting (CPQ) tools right in HubSpot.
“That means our customers will be able to close deals faster and increase revenue–all the while having their customer and transaction data in one place.”
Cacheflow
Founded in early 2021, Cacheflow exited stealth later that year, announcing a $6MN seed round, followed by a $10MN round led by GV in 2022.
The company’s no-code platform is used to automate SaaS sales processes, while also simplifying B2B software sales and billing.
In a HubSpot blog discussing the acquisition, Rangan stated that Cacheflow enables companies to quickly configure quotes, close deals through interactive links, and streamline up-selling and renewals.
The CEO also explained that many Cacheflow customers already use HubSpot, which allows the start-up to bring deep insight into HubSpot’s ecosystem, and position them to make a quick, positive impact.
Following the announcement, Sarika Garg, Co-Founder of Cacheflow, commented:
“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.
More News from HubSpot
In other acquisition news, earlier this month HubSpot confirmed that it had closed on a deal to buy Mindstream.
The UK-based, AI-focused media outlet runs a daily newsletter that keeps over 150,000 marketing, business, and AI professionals updated on AI trends and innovations.
Despite a focus on providing valuable insights, education, and inspiration in the AI space, some subscribers may be concerned that HubSpot’s involvement could impact the publication’s independent perspective.
Elsewhere, during HubSpot’s recent INBOUND 2024 conference, the vendor unveiled its new App Cards.
The innovation aims to enhance users’ experiences with third-party tools by replacing traditional CRM cards.
In addition, the customizable cards streamline data management across HubSpot and other platforms, reducing the need for tab-switching and context shifts.
