m3ter is a metering and pricing engine for SaaS businesses. We just launched the business out of stealth mode with $17.5 million in funding.
Usage-based pricing (UBP) is a powerful pricing model. Software companies that have implemented it enjoy stronger year-on-year growth than their peers and are valued at a premium.
The problem? UBP is surprisingly painful to implement – and that’s what m3ter is designed to fix. Our technology addresses common issues associated with usage-based pricing and makes it easy for any software business.
m3ter 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).
Implementation is straightforward, with a flexible API-based architecture and easy integrations with common tooling.
How did you come up with the idea for the company?
My co-founder and I are repeat entrepreneurs who previously built and sold a back-end-as-a-service business, GameSparks, to AWS.
Usage-based pricing offers huge rewards for SaaS businesses, but it isn’t easy to implement. We experienced the pain ourselves when building our previous startup, and that’s what gave us the idea for m3ter.
With m3ter, we’re proud to give all SaaS businesses a way to intelligently deploy and manage usage-based pricing and capture their true value.
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Who is your software for?
We’re experiencing high demand from midmarket B2B SaaS businesses, and we also have several enterprises in our pipeline.
Our customers love m3ter because we help them achieve painless billing operations, improved customer experience, increased sales performance and better business insight, all based on fast, flexible access to error-free usage and billing data.
What can we hope to see from m3ter in the future?
From the beginning, we designed m3ter for applied data science, and we’re now furthering the development of advanced analytics tooling for sales and finance teams.
New features will allocate costs algorithmically to provide insights into unit economics; deliver pricing recommendations that improve results at the individual customer level; and provide revenue forecasts based on usage signals to improve business predictability. Watch this space!