m3ter, a metering and pricing engine for SaaS companies, has launched from stealth with USD17.5 million in funding from Kindred Capital, Union Square Ventures and Insight Partners.
m3ter’s early traction corresponds with a rapid increase in the number of SaaS businesses switching to usage-based pricing (UBP), a pricing model becoming popular because charging customers for what they consume allows for easier adoption, costless upsell, better margin control, and greater customer satisfaction.
The funding will help the company to build on its early traction and meet growing global demand for its product with new hires in Europe and the US.
