m3ter raised $14 million in a Series A round led by Notion Capital and joined by Insight Partners, Union Square Ventures, and Kindred Capital. Philipps & Byrne supported the deal by conducting the Product and Tech Due Diligence ahead of the investment.
m3ter helps software companies successfully operationalize modern usage-based pricing strategies. 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.
Tech Due Diligence on m3ter’s Pricing Operations Platform
m3ter supports software companies moving beyond simple recurring subscription models to implement hybrid and usage-based pricing. Demand for these models have grown due to the widespread adoption of Product Led Growth, as well as the rise of APIs and automation. Despite their advantages, usage-based pricing models are challenging to deploy and manage because existing pricing and billing tools are not well adapted to them.
m3ter’s platform is designed to support software companies of all stages and variations of pricing complexity, so they can scale with confidence. It plugs directly into existing systems to capture granular usage, pricing, and account data at scale and then applies complex pricing configurations to calculate error-free bill items in near real-time.
Philipps & Byrne conducted a thorough examination of m3ter’s technological landscape, analyzing various facets, ranging from leadership and product management to the tech team’s structures and processes. Additionally, we assessed the organizational setup, the fundamental architecture underpinning the tech stack, and the robustness of the hosting and infrastructure. We also looked into the efficiency of software delivery and quality assurance processes, as well as aspects related to security and privacy.
The outcomes of this evaluation were provided in a report that not only offered valuable insights but also actionable recommendations. These recommendations can assist m3ter on their ongoing path of growth and strengthen their tech and product organization for the future as they continue to scale.
m3ter is a pricing operations platform that powers and automates every variation of usage-based pricing for software companies at all stages, so they can deliver great customer experiences and accelerate revenue growth. By plugging into existing systems, m3ter flexibly ingests and enriches data, applies pricing of any complexity, and generates error-free bills, unlocking new capabilities for the entire business.
The company was founded in 2020 by Griffin Parry and John Griffin, repeat founders who previously built and sold a backend-as-a-service business, GameSparks, to AWS.
Notion Capital is a Venture Capital investing firm focused on European SaaS and Cloud, with more than 100 investments to date. They support exceptional founders on their extraordinary journeys, with lifetime capital and a value-add platform.