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OpenMeter Raises $3M: Data source for AI monetizationOpenMeter standardizes usage-metering to enable AI monetization

Peter Marton
Peter Marton@slashdotpeter
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We are happy to announce our $3M seed round from Y Combinator, Haystack, and, Sunflower Capital to help engineers monetize AI products and standardize usage metering.

Engineers at AI companies choose OpenMeter Cloud to process millions of usage events per second to collect, integrate, and analyze consumption data for product, revenue, and efficiency teams.

AI companies are running on usage data

As the narrative unfolds, AI companies thrive by leveraging usage data across teams. This isn't just about billing; it's a strategic move that enables product, finance, and sales to unlock insights into consumption patterns and drive financial efficiency like never before.

Companies consuming or adopting usage-based pricing models face new challenges. This is especially true for AI companies building on expensive resources like LLMs and GPUs. For example, engineers must enforce usage limits to protect margins and finance to understand per-customer costs or sales to identify expansion opportunities.

Built for engineers

In the era of AI and automation, usage data is required horizontally across the company. Engineers must collect large volumes of consumption data to power real-time use cases. Balancing accuracy, cost, and latency is critical to success. This includes extracting usage data from infrastructure components and LLMs, metering consumption in real-time, and integrating with common destinations like billing, CRMs, and finance engineering.

We built OpenMeter for engineers and made it composable. Our open-source metering engine processes a large volume of events and aggregates usage instantly. With the community, we are building collectors to extract usage accurately to create a blueprint for metering, including popular use cases from OpenAI token usage to Kubernetes CPU and GPU time.

OpenMeter Cloud is the managed version of our powerful open-source metering platform. It offers usage insights, Stripe integration, visibility, and an understanding of per-usage cost.

Make the move today

OpenMeter is a strategic move towards AI monetization. Get started with our serverless metering today to streamline your billing and cost analysis.

We help engineers adopt cloud metering in minutes instead of months.

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From Stripe to OpenMeter: Our Journey

While working at Stripe, Peter realized that metering is not standardized across the industry, and it's challenging to collect usage data from all the different infrastructure components (Kubernetes, DBs, GPUs, LLMs, etc.). While having good data quality was critical to working with the Product, Finance, and Efficiency teams, collecting, aggregating, and analyzing usage took a lot of time and effort.

In January 2023, the founders joined YCombinator, and as they started to dig deeper, it became clear that metering is just the tip of the iceberg. Companies with usage-based models face challenges from engineering to finance and product to sales. Once consumption drives revenue and cost, controlling spend and identifying actionable insights in usage data is critical. This is especially true for AI companies that run on expensive resources like LLMs and GPUs.

To change the status quo, we launched OpenMeter as an Open Source project because we believe standardization is only possible as a community. We want to do this together, with you.

AI Monetization