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Wednesday, Jul 26th

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MGI 360 Ratings - Recurly FEB 10 2016 Billing Management Systems

MGI 360 RatingsWe are raising the MGI 360 Rating of Recurly from 44 (2013) to 51 and for now maintain a Neutral outlook.

Recurly provides agile subscription billing management. Our prior rating of Recurly was developed in the aftermath of a serious service disruption. Since that time Recurly has invested significantly into product capability as well as in cloud availability with several layers of backup. The company is carving out a market space serving customers that seek a simple, medium to high-volume subscription management tool that is easy to integrate and offers PCI compliance. It does not currently address any of the other core areas of AMP (e.g., revenue recognition, e-commerce, et al) but does offer an integrated credit card management capability that helps arrest revenue leakage due to fraud and/or expiration of card credentials. For organizations seeking a straightforward, mostly credit card driven subscription monetization solution to embed within their B2C or B2B applications, Recurly is an option. For teams with technical experience, Recurly offers the promise of agility in development and relatively rapid time-to-market.  

 Recurly has received around $20 Mil in venture funding, and with over 100 employees (MGI estimate, up from 15 during the last rating) sells via online and direct channels. The company has progressed in strengthening its delivery capability, with over 2,000 customers. It is best suited for high volume B2C and B2B credit-card businesses with a limited amount of pricing/billing complexity. The company expertise with credit card handling/payment integration, growth, and size set it apart from many of its direct competitors.  

Competitors: Chargify, CheddarGetter, Vindicia, Zuora, Fusebill  

About MGI360 Ratings: MGI 360 Ratings is a comprehensive system for evaluating technology companies. IT organizations use MGI 360 to track suppliers, assess purchasing risks and identify promising new vendors. Vendors utilize MGI 360 to track their markets and evaluate partners. Institutional Investors use MGI 360 for independent assessment of tech companies. MGI 360 ratings help lower costs, save time, reduce risks, and identify new opportunities.  

The MGI 360 ratings are on a scale from 0 to 100 and reflect company opinions of MGI analysts in five key areas on a scale of 0 to 20:

  • PRODUCT: How strong is the product competitive position
  • MANAGEMENT: How competent and experienced is the management team
  • CHANNELS: Does the company have a sales capability and channels needed to bring products to market
  • STRATEGY: Does the company have a realistic view of the opportunity and a compelling strategy for success
  • FINANCE: Is the company growing and profitable.

Each of these key criteria is subdivided into numerous sub-categories. In total, over 149 criteria are combined to generate an MGI 360 rating in each specific market space. Companies can have one or more MGI 360 rating - one for each market. MGI 360 ratings are revised as important developments occur. While the MGI 360 rating process is comprehensive, this scoring system is not meant to be a predictor of company solvency, liquidity, absence of accounting fraud or stock performance. Access to MGI 360 Ratings is by subscription.  

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