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How m3ter Raised $31.5M to Automate Usage-Based Billing for $50M+ ARR Companies

Griffin Parry explains how m3ter turns product usage and pricing data into bill amounts for complex B2B software companies, and why building that billing infrastructure needed $31.5M of outside capital.

Griffin Parry · m3ter

Published March 7, 2024
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What you’ll learn

Griffin Parry, co-founder of m3ter, explains how the company pulls product usage, pricing and account data together to calculate bills for B2B software companies with $50M+ ARR that mix subscriptions with usage-based pricing. He also covers building and selling GameSparks to AWS, launching m3ter in 2020, and why it raised $31.5M from external sources to build critical billing infrastructure.

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Key moments

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Subscription 2.0 with usage elements

“So it looks like a subscription, but it's got usage based elements. It could be an allowance that you've got to track where you pay overages if you exceed that allowance, that kind of thing.”
Watch at 02:33

Build for an industry you know

“I mean, if I did it all over again, wouldn't have built a service for an industry that I didn't know intimately myself.”
Watch at 10:17

How m3ter prices its own deals

“And if they exceed them, they pay overages. But so it's quasi fixed recurring, but with a usage based core.”
Watch at 11:45

Why m3ter raised outside capital

“we're building critical infrastructure for significant companies and that requires quite a lot in comparison, a lot of capital.”
Watch at 16:44

Advice for his 20-year-old self

“The bad news is if you wanna achieve stuff, grit and resilience matters an awful lot.”
Watch at 26:02

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About the speaker

Griffin Parry

CEO & Co-founder · m3ter

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