Metronome Raises $50M in Series C Funding and Expands Usage-Based Billing Platform

Metronome, the leading usage-based billing platform, has secured $50 million in Series C funding after experiencing an 8x increase in dollars billed on the platform in 2024. Notably, Metronome now caters to 150 million+ end users and processes billions in usage-based revenue. High-profile companies such as OpenAI, Anthropic, Databricks, Confluent, and NVIDIA rely on Metronome to accelerate shipment, enhance customer visibility and control, and rapidly scale revenue without encountering billing limitations or inefficiencies.  

Founded in 2019, Metronome aims to ensure that billing and pricing facilitate growth rather than impede it. The latest funding round, led by existing investor NEA and involving a16z, Greyhound Capital, General Catalyst, Workday Ventures, Truebridge Capital Partners, Activant Capital, SineWave Ventures, and Megalith Ventures, brings the total funds raised to $128 million. 

The surge in AI-driven pricing models has prompted a shift towards aligning product pricing with the value they deliver, and Metronome is at the forefront of modernizing billing in response to this transformation. Forbes recently recognized Metronome as one of its 'Next Billion-Dollar Startups,' underscoring the company's influence in the shift towards usage-based pricing, which has become the dominant model for rapidly growing software and AI enterprises. A Venture Partner at NEA, Hilarie Koplow-McAdams, emphasized the significance of Metronome's role in capitalizing on the shift from seat-based pricing to hybrid models integrating usage as a core element, as well as the rise of AI agents and outcome-based pricing. Metronome's collaborative approach has enabled companies like Confluent and Ideogram to enhance pricing and packaging for their products swiftly and accurately while streamlining internal operational processes.

With the recent launch of Metronome 2.0 and the addition of James Brown as CPO, the company is well-positioned to cater to an expanded customer base and enhance its product features to accommodate diverse billing needs. The additional funding will drive further research and development efforts aimed at empowering customers to utilize pricing and billing data to create superior customer experiences and make informed decisions regarding pricing, cost controls, margins, and value alignment.

Metronome's impact in empowering companies to focus on growth by eliminating the complexities of billing infrastructure has been pivotal in the software industry. The company's commitment to enabling businesses to drive growth through optimized billing and pricing strategies is evident in its partnerships with fast-growing enterprises across various sectors.

Learn more about the funding here.