Octane builds a metered billing system that ingests vendor usage data via APIs, stores it, performs real-time aggregations, and enables vendors to create and change consumption-based price plans through a no-code interface. The founders reconnected in June 2020 after meeting at Carnegie Mellon and built the product to help companies implement pay-as-you-go billing similar to Snowflake and AWS. The company serves customers across infrastructure and depth-gauge industries and has seen novel use cases such as construction firms tracking worker hours and electric-charging firms metering usage. Octane plans to add features for price experimentation that let customers test different plans against historical usage to validate pricing. Financially, Octane raised $2 million at a $10 million post-money valuation; the new funding will primarily fund engineering hires and expansion of product, marketing and sales. At the time of the round the company had seven employees, expected to be around ten by year-end, and reported two to three years of runway while declining to disclose revenue.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2021