SAN FRANCISCO--(BUSINESS WIRE)--Orb, the modern pricing platform, launched today and announced that it closed $14M in Series A funding. The round was led by Menlo Ventures, following a seed round in 2021 of $5.1 million led by Greylock, bringing the total raised to $19.1 million. They are joined by base case capital, The Cannon Project, Data Community Fund, Essence VC, FOG Ventures, Scribble Ventures, South Park Commons, and SV Angel, as well as founders and executives from leading companies such as Asana, Datadog, HubSpot, Braze, Notion, Plaid, Replit, and Vercel.
The shift in software from subscriptions to usage-based pricing has rapidly accelerated, with many companies seeking to incorporate how the product is used into how it is priced. While the trend toward usage is hard to ignore, there is no one-size-fits-all approach to pricing. The reality is that most companies benefit from hybrid models and all businesses require complete control to price and package their products in the way that best drives efficient growth. Flexibility is essential and Orb is the company powering this evolution.
“Pricing is one of the most effective growth levers that companies have, yet so few can successfully evolve their monetization to act on opportunities,” said Alvaro Morales, CEO and co-founder of Orb. “Building this infrastructure in-house has required massive investments in engineering, beyond the reach of most companies. Alternatively, companies have faced a false choice between billing solutions that are either developer-friendly or powerful for cross-functional users like finance. That changes today with Orb.”
Orb’s powerful pricing platform spans the end-to-end revenue workflow, from robust metering capabilities, to flexible pricing and packaging iteration, to streamlined invoicing, to reporting and revenue recognition.
“We are reverting from an era of point solutions back to an era of consolidation, and a single system of record for revenue across engineering, product, sales, revops, and finance is where we at Menlo see the industry heading,” said Naomi Ionita, Partner at Menlo Ventures. “Prior to joining Menlo, my product growth and monetization teams built versions of this infrastructure in-house with significant engineering headcount committed. I wish we had Orb to accelerate our revenue goals.”
Orb powers billing for high-growth B2B technology companies including Airbyte, Dune, and Materialize, saving them engineering costs and enabling them to unlock more revenue. Revenue is a company-wide effort, so Orb’s solution is designed to accelerate all stakeholders toward their goals. Orb’s pricing platform delivers:
- Flexibility to allow engineers and product managers to ship products faster without billing getting in the way.
- Real-time actionable insights to help sales and customer success teams identify upsell opportunities and build stronger relationships with customers.
- Accuracy and automation to eliminate manual billing errors and give finance teams detailed revenue reporting.
“SaaS companies must drive sustainable and profitable growth and need solutions that deliver value without requiring additional seats or active usage. When combined with the AI- and ML-driven automation revolution, cloud economics are in a state of rapid flux,” said Saam Motamedi, General Partner at Greylock. “The speed with which software businesses can evolve monetization will differentiate the winners. We see Orb as a key to unlocking the value for the next major wave in software.”
With Orb, SaaS companies can now accurately bill for any flexible pricing model. As companies, boards, and the public markets continue to watch every dollar, and engineering and data science talent remains scarce and expensive, Orb enables organizations to focus more on their core business, not on billing.
For more information, please visit withorb.com.
Orb is the modern pricing platform purpose-built for flexible pricing models. Orb spans the end-to-end revenue workflow, from robust metering capabilities, to flexible pricing and packaging iteration, to streamlined invoicing, to reporting and revenue recognition.
High-growth B2B technology companies use Orb to automate billing and enable pricing experimentation. Orb enables them to focus on their core business, not on billing.
Based in San Francisco, Orb’s investors include: Menlo Ventures, Greylock Partners, The Cannon Project, Data Community Fund, Essence VC, FOG Ventures, Scribble Ventures, South Park Commons, and SV Angel, as well as founders and executives from leading companies such as Asana, Datadog, HubSpot, Braze, Notion, Plaid, Replit, and Vercel. Learn more about Orb at withorb.com.