The UK’s Paddle, a platform for software sales, has raised $12.5 million led by Notion Capital with participation from BGF Ventures, Kindred Capital, and Ukrainian software company MacPaw.
Paddle is a platform for aggregating and managing the various stages of software sales such as trials and licenses, payments and taxes, and usage and crash analysis.
“The current software stack is prehistoric. Software vendors of all sizes have put up with a fragmented approach to selling their products for years,” said Christian Owens, CEO of Paddle. “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.”
This new funding will be invested in growing the team and accelerating product development with a focus on insight, he said. It currently employs 40 people at its London office and aims to grow to 100 by the end of the year.
Notion partner Chrys Chrysanthou and MacPaw CEO Oleksandr Kosovan have joined Paddle’s board. The London company merged with MacPaw’s software development platform DevMate earlier this year.