m3ter, a London, UK-based metering and pricing engine for SaaS companies, launched from stealth with $17.5 million in funding.
Backers included Kindred Capital, Union Square Ventures and Insight Partners, as well as angels including Paddle founder Christian Owens, Tessian founders Tim Sadler and Ed Bishop, Klaviyo founder Ed Hallen, and GoCardless co-founder and Nested founder Matt Robinson.
The company intends to use the funds to build on significant early traction to expand into new markets, grow its team, and extend its product.
Founded in London in late 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. This feeds systems throughout the stack, including the billing and finance system (to automate billing operations), SaaS platform (to deliver billing dashboards to end customers), and Sales CRM and Customer Success platforms (to allow smart, well-informed and timely conversations with customers).
While in stealth, m3ter has already attracted customers including Sift, Stedi and Redcentric, as well as signing a partnership with revenue delivery platform, Paddle.
FinSMEs
08/02/2022