Metronome, a San Francisco, CA-based provider of usage-based billing for companies such as OpenAI, Databricks, and NVIDIA, has raised $43 million in a Series B funding round.
SaaS Investors
The round was led by NEA, with participation from Andreessen Horowitz and General Catalyst.
New Enterprise Associates (NEA) is a venture capital firm that focuses on investment stages ranging from the seed stage through the growth stage across an array of industry sectors. Founded in 1997, the firm is headquartered in Menlo Park, California, and Washington, D.C., and has additional offices in Baltimore, Bangalore, Beijing, Boston, Mumbai, New York City, San Francisco and Shanghai.
Hilarie Koplow-McAdams from NEA has joined Metronome's board of directors.
Metronome Use of Funds
The funding will be used to accelerate product development and expand the team.
About Metronome
Metronome is a usage-based billing platform built for modern software companies. Metronome's platform is designed to simplify billing for SaaS companies, enabling them to operationalize new business models quickly. The platform reduces the engineering effort required for billing, allowing business and product teams to manage revenue and pricing efficiently. Metronome helps software companies launch, iterate, and scale their business models, with billing infrastructure that works at any size and stage.
Funding Details
Company: Metronome Technologies, Inc.
Raised: $43.0M
Round: Series B
Funding Month: January 2024
Lead Investors: NEA
Additional Investors: Andreessen Horowitz and General Catalyst
Company Website: https://metronome.com/
Software Category: Billing
Source: https://www.businesswire.com/news/home/20240130740190/en/