San-Francisco based Recurly announced this week it raised $19.5 million in fresh funding and plans to hire 40 people across its Boulder, New Orleans and San Francisco offices.
Recurly is a SaaS platform for companies that use a subscription billing model. Its 2,100 global customers span from streaming companies like Sling TV to enterprise-facing software providers like Asana.
With this new funding, Recurly plans to ramp up its efforts to sign on companies that sell physical products, such as its current customer FabFitFun, a subscription box service that sends curated beauty, fitness, fashion and wellness products to customers at home.
Recurly is also pushing to add more partner platforms that integrate with its software, chief of staff Emma Clark told Built In. Most recently, the company built out an integration with customer relationship management platform ZenDesk.
For both initiatives, Recurly is bringing on new business development and sales professionals, including a partner marketing manager. More than half of the company’s 40 open roles, however, are in engineering, product or technical operations, Clark said.
The roles will be posted in all three of Recurly’s markets, and qualified candidates could land at any site, depending on their geography and preferences, Clark added.
“We’re mostly recruiting in the areas where those offices are,” she said. “But we’ve had multiple employees who have moved from San Francisco to Boulder, in particular. We’re seeing more people moving out of the Bay Area into other areas when they have the opportunity.”
Clark helped launch the 10-year-old company’s Colorado site almost five years ago. Since then, it’s grown from three employees to more than 70, who work from Boulder's historic downtown.
“We started in this small working space where the Internet didn’t work half the time, and now we have this great office right off of Pearl Street,” she said. “It’s been a pretty amazing ride to help our office and our people grow as that’s happened. And to not have to compromise what I love to do, and living in Colorado. I feel like I’ve got the best of both worlds.”
Recurly’s latest funding round was led by F-Prime Capital, with additional participation from Polaris Partners, Greycroft and Silicon Valley Bank. The company’s total funding is now more than $39 million.