Griffin Parry, founder and CEO of Meter talks about how their usage-based pricing SaaS has acquired over 30-40 customers with ACV’s in the range of $100K.

Here are the talking points,

Meter's Mission:

• Meter aids B2B software companies in deploying effective pricing strategies for growth.
• Offers a pricing operations platform for companies utilizing usage-based pricing models.
• Helps in distributing customer spend and usage data seamlessly across the organization.

Differentiation:

• Complementary to subscription management platforms like Chargebee.
• Provides necessary data integration and processing before billing systems.

Product Overview:

• Offers a primary usage data tracking mechanism via API.
• Assists scale-up companies in coping with increased complexity by ingesting data from existing sources.

Customer Base:

• Focuses on scale-up companies facing growth challenges due to organizational pain points.
• Targets finance personnel handling billing complexities in expanding businesses.

Metrics and Customer Profile:

• Approximately 30-40 paying customers, with ARR ranging from $50 million to $200 million.
• ARR exceeding $100K per customer, indicating critical business value.
• Targets companies at Series B funding stage or beyond.

Pricing Model:

• Utilizes usage-based pricing, charging based on data delivery and bill calculations.
• Offers predictability with significant minimums and overage charges for exceeding allowances.

Growth and Sales Strategy:

• Utilizes inbound, outbound, and partner channels for lead generation.
• Engages in high-contact, value-added conversations to address customer skepticism.
• Sales cycle typically spans six months, involving reassurance and guidance through complex transformations.

Zero to One Journey:

• Founded by repeat founders with prior experience in cloud infrastructure and usage-based pricing.
• Conducted extensive discovery conversations with potential customers before product development.
• Collaborated with design partners to co-create the platform and validate its effectiveness.

Funding and Team Size:

• Raised $31.5 million in external funding, leveraging favorable market conditions.
• Currently employs a team of approximately 60 members.

Next Milestone:

• Focuses on efficient and profitable growth, with a potential Series B funding round on the horizon.
• Aims to achieve $100 million in ARR, fulfilling the vision of building a successful B2B software company.