Total amount raised
$128 Millions
Latest funding date
Location
Metronome has successfully raised $50 million in Series C funding, marking a significant milestone in its financial journey. The platform specializes in usage-based billing, offering companies the tools to implement new business models and launch products more efficiently.
Keep reading to explore the intricacies of Metronome's fundraising journey and the investors backing this innovative platform.
What Is Metronome?
Metronome, founded in 2019 by Kevin Liu and Scott Woody, is headquartered in San Francisco, California. The company specializes in providing a usage-based billing platform that helps businesses implement new business models and launch products more efficiently.
With a team of 101-250 employees, Metronome focuses on offering flexible and user-friendly billing infrastructure. This allows companies to take full control of their revenue and pricing strategies, enabling rapid deployment and seamless integration with existing tech stacks.
Metronome's platform supports various pricing levers and provides real-time data for strategic decision-making, making it a valuable tool for businesses looking to innovate and grow.
How Much Funding Has Metronome Raised?
- Seed Round
- Amount Raised: $5M
- Date: January 2020
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and bring the product to market.
- Venture Round
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $30M
- Date: February 2022
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Series B
- Amount Raised: $43M
- Date: January 2024
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand market reach.
- Series C
- Amount Raised: $50M
- Date: February 2025
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive adoption of usage-based pricing in software and AI.
Total Amount Raised: $128M. Current Valuation: Not publicly disclosed.
Key Investors
- NEA (New Enterprise Associates)
- Details: NEA is a global venture capital firm that invests in technology and healthcare companies at all stages of growth. They have a long history of supporting innovative startups and helping them scale.
- Investment Focus Areas: Technology, healthcare, software
- Notable Investments: Robinhood, Coursera, Duolingo
- a16z (Andreessen Horowitz)
- Details: Andreessen Horowitz is a venture capital firm that backs bold entrepreneurs building the future through technology. They are known for their significant investments in disruptive tech companies.
- Investment Focus Areas: Technology, software, AI
- Notable Investments: Facebook, Airbnb, Slack
- Greyhound Capital
- Details: Greyhound Capital is an investment firm focused on high-growth technology companies. They aim to support companies that have the potential to become market leaders.
- Investment Focus Areas: Technology, growth-stage companies
- Notable Investments: Revolut, Nubank
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in powerful, positive change that endures. They support companies across various stages and sectors.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: Stripe, Airbnb, Snap
- Workday Ventures
- Details: Workday Ventures is the strategic investment arm of Workday, focusing on companies that can accelerate innovation and growth. They invest in enterprise software and cloud-based solutions.
- Investment Focus Areas: Enterprise software, AI
- Notable Investments: Scout RFP, Pymetrics
What's Next for Metronome?
Metronome stands at the cusp of a significant opportunity, driven by the industry's shift towards usage-based pricing, particularly in software and AI. With the recent $50 million Series C funding, the company is well-positioned to expand its customer base and enhance its platform capabilities. The hiring of James Brown as Chief Product Officer signals a strong focus on product innovation, which could further solidify Metronome's market position.
Future fundraising opportunities appear promising, given the company's rapid growth and the increasing adoption of its billing solutions by major players like OpenAI and NVIDIA. The involvement of high-profile investors such as NEA and a16z suggests continued investor confidence, paving the way for potential future funding rounds to support further expansion and innovation.
However, Metronome may face challenges in maintaining the scalability and reliability of its platform as it grows. Competition from other billing platforms and the need to continuously innovate to stay ahead in the market could also pose hurdles. Ensuring data security and compliance with various regulations will be crucial as the company navigates these challenges.
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