US fintech Orb raises $25m Series B funding to support billing platform growth
US-based billing platform Orb has raised $25 million in a Series B funding round led by Mayfield Fund.
Billing platform Orb raises $25m Series B
Existing backers Menlo Ventures, Greylock Partners, South Park Commons, Basecase and Scribble Ventures also participated in the round, alongside new investor Uncorrelated Ventures.
Founded in 2021 in San Francisco, Orb operates as a billing infrastructure layer for the end-to-end revenue workflows of software and AI-focused companies specifically.
The platform supports multiple pricing models such as consumption-based and usage-based billing, and also includes payment and invoice workflow management features.
The raise builds on the $19.1 million the company secured in its Series A round in 2023, and brings the start-up’s total funding to date to $44.1 million.
Orb claims to have experienced “remarkable growth” since closing its Series A round, with a three-fold increase in customers since the start of this year.
“The software industry is on the precipice of an evolution in pricing as AI and machine learning reshapes how software value is created and delivered,” says Alvaro Morales, CEO and co-founder of Orb.
“Our mission is to ensure that businesses have the flexible, powerful billing infrastructure they need to monetise these next-generation products effectively.
“This funding will accelerate our efforts to build the tools that empower companies to transform their pricing strategies as rapidly as they’re innovating their products,” he adds.
