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SAN FRANCISCO–(BUSINESS WIRE)–Sept. 27, 2022–

Recurly, Inc., a leading subscription management and billing platform for high-growth brands, announced an agreement to acquire LeapRev, a global revenue accounting and forecasting solution. This acquisition will create a single source for subscription management, recurring billing and revenue management that will allow Recurly customers to better focus on growth among increasingly complex and evolving revenue recognition and reporting standards. .

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Recurly launches enhanced revenue recognition features. (Graphic: Business Wire)

“Recurly powers recurring billing management for many of the world’s leading brands. Part of our client’s success comes from Recurly’s ability to support more granular, a la carte pricing models. This trend of allowing greater flexibility in pricing models creates an increased need for accounting automation,” said Dan Burkhart, CEO and co-founder of Recurly. “We are thrilled to welcome the talented team at LeapRev and deliver a best-in-class solution for revenue recognition automation to the world’s most successful subscription businesses.”

Revenue recognition reporting requirements continue to evolve, requiring international payments and the inclusion of multiple currencies. Acquisition of LeapRev enhances the revenue recognition capabilities of the Recurly platform, streamlining complex revenue reporting processes associated with subscription contracts, including FASB (ASC 606/340-40/842) and IASB guidelines (IFRS 15). Returning customers will also be able to streamline revenue management across a diverse set of monetization and pricing models, and easily account for contract changes, including volume discounts, up-sells, cross-sells, refunds, returns, cancellations, terminations and price adjustments.

“We’re excited to offer more in-depth revenue management capabilities. This new solution will help our customers meet reporting and compliance requirements, as well as provide improved revenue intelligence and predictability for businesses with a complex mix of pricing and usage models,” said Jonas Flodh , Chief Product Officer at Recurly. “Adding this expanded functionality to the Recurly subscription management and billing platform further enhances our ability to provide automation of the close process, as well as revenue insights and forecasts across a variety of industries. .”

Created by a team of industry veterans, LeapRev’s platform provides a next-generation revenue management application to automate client accounting standards.

“We are thrilled to join the Recurly team and continue the mission of simplifying the complexities of subscription management,” said Aswin Kurella, co-founder of LeapRev.

“This is a powerful combination for continuing to build high-growth businesses,” said Seshagiri Chilukuri, co-founder of LeapRev.

Visit Recurly Income Recognition for more information.

Recurly provides a flexible and scalable subscription platform to support subscription commerce for thousands of brands worldwide. Recurly helps businesses scale subscriber growth by optimizing the customer experience while reducing operational costs associated with managing recurring billing and payments.

About repetition

Thousands of innovative companies in digital media, streaming, publishing, SaaS, education, consumer goods and professional services rely on Recurly to unlock transformational growth using subscriptions. Recurly’s all-in-one integrated platform removes the complexities of automating subscription billing at scale by allowing teams to easily manage and optimize their subscriber lifecycle. Category-defining companies like Sling, Twitch, BarkBox, FabFitFun, Paramount, Lucid, and Sprout Social have chosen Recurly to manage billions of dollars in recurring revenue, future-proof their recurring billing and revenue management, and recover millions of dollars of lost revenue. due to churning. Founded in 2009, Recurly is based in San Francisco, with offices in Boulder and London. For more information, visit https://recurly.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220927005356/en/

CONTACT: Geoff Renström

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KEYWORD: ARKANSAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: SOFTWARE PAYMENTS SMALL BUSINESS PROFESSIONAL SERVICES TECHNOLOGY RETAIL ONLINE RETAIL

SOURCE: Recurrence

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PUB: 09/27/2022 10:00 a.m. / DISC: 09/27/2022 10:03 a.m.

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