m3ter, a London, UK-based pricing operation platform, announced that it raised a $14 million Series A funding round to further its mission to help software companies successfully operationalize modern usage-based pricing strategies.
The round was led by Notion Capital, with participation from existing investors Insight Partners, Union Square Ventures, and Kindred Capital.
The funding will also be used to expand the company's presence in the US market. This will involve hiring key customer-facing personnel to support the growing customer base in the region.
The company’s platform plugs directly into software businesses' existing systems to capture granular usage, pricing, and account data at scale. It enables complex pricing configurations and error-free billing in near real-time, feeding systems throughout the stack, including billing and finance systems, the SaaS product itself, and Sales CRM and Customer Success platforms.
The funding will allow its team to develop new products such as Cost Allocator, Pricing Experimenter, and Usage Forecaster. These products will leverage data science techniques to provide businesses with insights on gross margin performance, pricing models, and usage and revenue forecasts.
Company: M3ter Holdings Limited
Round: Series A
Funding Month: April 2023
Lead Investors: Notion Capital
Additional Investors: Insight Partners, Union Square Ventures, and Kindred Capital
Company Website: https://www.m3ter.com/
Software Category: Metering and Pricing Engine
About the Company: Founded in 2020 by Griffin Parry and John Griffin, m3ter is a metering and pricing engine that makes it easy for SaaS companies to deploy, manage, and optimize usage-based pricing. It provides data infrastructure that captures granular usage and cost data at scale, enables complex pricing configuration, and calculates bill amounts in near real-time. m3ter’s pricing operations platform powers every variation of usage-based pricing for software companies at all stages of growth by integrating usage data, applying pricing, and generating error-free bills.