Series A27 April 2023

m3ter secures £11.2m Series A funding led by Notion Capital to expand analytics and U.S. presence

The investment round was led by Notion Capital and will fund product development and North American expansion.

£11.2MSeries A

m3ter provides a pricing operations platform that helps software businesses implement and manage usage-based pricing models. The company plugs directly into existing tech stacks to capture usage data and generate accurate bills.

London-based pricing operations platform m3ter has secured £11.2m in Series A funding to accelerate its expansion in the United States and develop new analytics tools. The investment round was led by Notion Capital, with participation from existing backers Insight Partners, Union Square Ventures, and Kindred Capital. The company has experienced rapid growth since emerging from stealth in 2022, increasing its customer base by 375 percent as more software businesses move away from traditional subscription models toward usage-based pricing. The fresh capital will support the creation of advanced features such as a cost allocator, pricing experimenter, and usage forecaster, alongside key leadership hires in North America.

From the founder

"In a more challenging software market, SaaS businesses are balancing growth with profitability, making pricing an ever-more valuable lever. Hybrid and usage-based pricing are now firmly in the spotlight because of their ability to deliver better customer experiences while reducing churn and increasing revenue, and as their popularity continues to grow, the opportunity for m3ter is obvious. Today’s funding enables us to take our ambitions to the next level, making new pricing models accessible for every software business that needs them."

Griffin Parry

CEO and co-founder at m3ter

Investor perspective

"I’m excited to announce our investment in m3ter. As pricing becomes a strategic priority for more software businesses, the one-size-fits-all approach looks increasingly obsolete. m3ter’s technology will power this transition towards more usage-based and intelligent pricing. Already, the company’s co-founders have laid solid foundations with an exceptional team and product, as well as deep engagement and alignment with their early customers and partners. We look forward to the bright future ahead."

Jos White

General Partner, Notion Capital