How Statsig scaled to $1 billion valuation with a one-person finance team by using Tabs

About Statsig

Statsig is a product experimentation and feature management platform built for product and engineering teams. Founded in 2021, the company has grown rapidly by enabling businesses like Rippling, OpenAI, and Notion to run feature flags, conduct A/B tests, and measure and analyze product experiments at scale. In just a few years, Statsig has become a trusted platform for high-growth teams, most recently closing a Series C round at $1 billion valuation. 

The Challenge: A Broken Billing Workflow That Couldn't Scale

When Stephen Praast joined as Statsig’s first accounting hire, he inherited a billing process that relied entirely on manual inputs: entering contract data into Stripe, then reentering the same information into QuickBooks. As the business scaled, Statsig needed finance operations that could move with the same speed as its product. 

At the time, invoicing was owned by RevOps and the system had several critical limitations:

• No integration with QuickBooks: Every invoice had to be entered twice just to reconcile payments.
• No structured tracking for Accounts Receivable: There was no clear way to monitor or follow up on unpaid invoices.
• Manual collections process: Overdue reminders had to be sent one by one through Stripe.
• Lack of visibility into outstanding balances: Statsig was sitting on over millions of dollars in unpaid invoices.

“I had to go through and re-enter every invoice that we had ever sent in QuickBooks. It was a nightmare that took hours a week, just to match those payments and make sense of the numbers,” Stephen said.

Collections were equally manual. With no automation, Stephen had to click into each overdue invoice in Stripe to send reminders. As a result, uncollected receivables ballooned to millions of dollars, with zero visibility into outstanding balances.

Day-to-day financial operations were inefficient and could not support Statsig’s monthly growth. “I had to manually enter each new customer with different individual inputs for usage that would take me to a different screen. Every single time I would be prompted to enter a new price, or it would show me this dropdown of every single price we’ve ever charged for that product. I had to do that for every invoice that went out,” said Stephen.

The process simply didn’t scale.  

Why Tabs?

Stephen had implemented Maxio at his last company, but he knew it wasn’t the right fit here. 

“Tabs was flexible and clearly built to evolve and scale with fast-growing companies,” he said.  “I was looking for a solution that could help us not only with our current billing needs, but can scale with us without scaling headcount.”

What sealed the deal was Tabs’ contract-centric approach. Unlike other systems that relied on messy or inaccurate CRM data, Tabs ingests the source of truth: the signed PDF contract. 

“As an accountant, the executed contract is what matters. Tabs pulls directly from the contract versus relying on CRM data, which means invoices are always accurate—the right amount, the right terms, and the right cadence,” said Stephen. For a lean team that needed both control and simplicity, Tabs offered just enough structure without unnecessary complexity and overhead of traditional systems.

"Tabs looked like it would solve the immediate problem of cash collections and scaling our ability to invoice our customers.  So we chose Tabs. And I've been happy ever since."-Stephen Praas, Head of Accounting, Statsig

Life With Tabs

Since adopting Tabs, Statsig has transformed its billing and collections operations from reactive and manual to streamlined and scalable. The improvements were immediate and measurable:

• 80% reduction in aged receivables
• Invoices over 30 days past due dropped from 50% to 5% 
• Saved 3+ business days per month on manual data entry
• Scaled billing volume 3x—without adding headcount

The biggest shift came in collections. Tabs now handles automated follow-ups and gives Statsig real-time visibility into aging invoices, reclaiming hours of work each week.

"It would be impossible to keep up with the volume under our old process. Now, I'm treading water easily, even with the 3x increase in our invoices because of revenue automation with Tabs."

Implementation was another win. At his prior company, onboarding Maxio took four months. With Tabs, the transition was fast and seamless. “We signed up in either June or July. I expected to start invoicing in September, but Tabs exceeded my expectations by a couple of months. How fast the implementation went surprised me,” Stephen recalled.

Now, with billing streamlined and collections under control, Stephen is laying the groundwork for the next phase, using Tabs’ revenue and reporting tools to go beyond operational efficiency and into insight and planning.

Statsig has begun optimizing workflows further, scheduling future invoices at the time of contract to minimize repeat work.

“The tool is very intuitive. When updates are made to the UI, it’s easy to figure out right off the bat. It’s clear Tabs is evolving fast—and building with customers like us in mind,” Stephen added.