UK-based sales software platform developer Paddle has raised $12.5m in a series B round featuring MacPaw, an independent developer of software for the for the MacOS operating system.
Venture capital firm Notion Capital led the round with participation from Kindred Capital and BGF Ventures. Paddle previously secured $3.2m in a September 2016 series A round led by BGF Ventures that included Spring Partners.
Founded in 2012, Paddle has developed a software platform that streamlines the process of selling software. It consolidates several different tasks and features, including trials and licenses, subscriptions, analytics, payment, taxes and internationalisation, into a single place.
The company has more than 500 customers using its software and plans to use the funding to scale its team and invest in new features for its product. The latest funding follows Paddle’s acquisition of DevMate, a software development and distribution toolkit, from MacPaw in May 2017.
Paddle CEO Christian Owens told Startups.co.uk: “At Paddle, we are on a mission to fundamentally change the way that software companies sell their products. Software vendors of all sizes have put up with a fragmented approach to selling their products for years.
“We believe that Paddle has overcome these problems by creating a powerful unified commerce platform and that we are poised to continue our rapid and exciting growth.”