MGI Research

Tuesday, Jun 18th

Last update06:04:25 PM GMT

MGI 360 Ratings: Recurly in Billing Management JUNE 30, 2017

MGI 360 LogoRATING UPDATE: We are updating the MGI 360 Rating of Recurly at 51 (Unchanged) and maintain a Neutral outlook
OPINION:  Company has made steady progress in core product enhancement and extending its footprint into complementary areas of payment management, fraud prevention, subscriber management and analytics. The release of JavaScript development libraries helps Recurly tap the audience addressed by Stripe. Recurly sales channels remain relatively small and partner ecosystem under-developed while competition in the SME/B2C agile billing market is increasing. Nevertheless the company has made steady progress in customer retention and grown its functional capability and integration profile.
Rating details and benchmark vs peer group is in the research report attached below.
USE CASEB2C and some B2B credit card-focused customers with billable revenues of $10-$500Mil that seek a simple, medium to high-volume subscription management tool with a limited amount of pricing/billing complexity that is easy to implement by non-technical users and offers PCI compliance. For teams with technical experience, Recurly offers the promise of agility in development and relatively rapid time-to-market.
COMPANY DESCRIPTION: Recurly provides agile subscription billing management in a complete SaaS solution as well as a set of development libraries that allow for white label integration into the customer environment. Recurly has received around $20 Mil in venture funding, and with over 135 employees (MGI estimate) sells via online and direct channels. We estimate revenues of about $15Million growing in double digits and over 2,000 customers. High agility of Recurly solution is one of its key differentiators.
COMPETITORSChargify, ChargeOver, CheddarGetter, Fusebill, Zuora
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.
MGI Research is an independent industry research and advisory firm focused on disruptive trends in the technology industry. Through subscription research, advisory engagements, industry studies and ratings, MGI Research helps clients identify opportunities for reducing IT costs and minimize technology risks. MGI Research analysts work closely with user organizations to create practical strategies for new technology initiatives such as mobile, virtualization, SaaS and cloud computing and make timely go/no-go IT investment decisions. For additional information, to purchase a subscription or to schedule a confidential consultation, call +1 888 801-3644 or visit 

Attachments: (For Subscribers)
FileSubscriber InformationStore price
Download this file (MGI Research Tech Co Rating RCLY BILL  2017-06-30.pdf)Recurly Rating Update June 2017Subscribe & receive unlimited access to every note. Sign Up. Initial registration is free and includes one free research item. Register Now.Not Available