Alvaro Morales and Kshitij Grover wanted more freedom to price their software-as-a-service product the way they saw fit, without needing approval from the finance department. So, they left Asana to found Mixpanel. The move was a risky one – but it turned out to be a wise decision. Their flexible pricing model created a thriving business that continues to grow today.
The developers of billing tools are usually focused on making sure that their software is as user-friendly and efficient as possible. However, integration with other systems can be a hinderance to creativity and change. The tool should instead enable the flexibility to meet customers where they are in order to maximize potential interactions.
Morales is a seasoned entrepreneur and marketer, having founded and led two previous companies. He believes that pricing can be made much more flexible and efficient through the use of technologies like Orb. This allows companies to better align pricing with their customers’ actual needs rather than forcing them into predetermined plans or models. As a result, Orb has already found success in acquiring new customers, with plans to continue this growth with additional funding.
With Orb, companies can track every unit of product usage and revenue. This gives them a single source of truth that can help them make informed decision about pricing. This approach is especially helpful for companies that are re-evaluating how they price their products and services.
Usage-based pricing is one alternative to traditional flat rates that SaaS companies are using to generate more revenue from their customers. By charging users based on how much they use the product, these companies can generate higher profits for themselves while also providing a better experience for their customers. This shift away from the traditional subscription model is likely to continue in the near future, as it leads to a number of benefits for both sides of the equation.
Orb bills customers based on usage data collected and managed within the platform, which can help identify revenue opportunities. By modeling alternative pricing plans and orchestrating changes in real time, Orb users can quickly find ways to generate more revenue from their products.
Orb has created a pricing engine that provides tools to test new strategies and analyze usage data. This allows businesses to find the most cost-effective way to provide their services while also optimizing efficiency. Orb’s pricing engine is essential for businesses of all sizes, Thank you for choosing Orb!
Orb also offers a powerful calendar feature that lets companies schedule future price changes for customer cohorts or contract renewals. Meanwhile, on the invoicing side, it lets companies directly embed draft invoices into product billing portals- surfacing past-due invoices and attempting to recover failed payments automatically. With Orb’s robust automatic payment collection capabilities, customers can rest assured knowing their bills are being paid on time and in full.
Orb, a new company tackling the monetization problem for companies, offers flexibility and control to its customers. By allowing for any pricing model, Orb allows businesses to move at their own pace without the burden of creating their own pricing models. This helps businesses capitalize on new product innovations more quickly.
It’s likely that Orb will continue to face competition from companies like Zenskar and Metronome, which focus on developing more comprehensive billing automation platforms. However, the company’s unique approach of building a SaaS platform that can be used by businesses of all sizes could give it an advantage.
Orb hopes to differentiate itself from the competition by providing users with superior data analytics tools. CEO Morales believes that Orb’s unique offering and strong customer focus will help the company grow quickly.
The ability to measure and manage usage across multiple systems has become increasingly important as companies strive to more efficiently price products and manage financials. Point solutions, such as Orb, present an operational challenge because revenue data gets fragmented across multiple systems. Engineers, product managers, revops, and finance controllers use Orb actively to drive business decisions.
The cloud is a revolution that is changing how businesses operate. Cloud economics are in a state of rapid flux, and the speed with which software businesses can evolve monetization will differentiate the winners. Orb is a key to unlocking the value for the next major wave in software.
Recently, Cloud mining startup, Orb announced its Series A funding of over $10 million. The investment was led by base case capital with additional support from Scribble Ventures, South Park Commons, FOG Ventures, Essence VC Data Community Fund and the Cannon Project. angel backers include SV Angel. This significant investment will help Orb continue to build out its global cloud mining infrastructure and expand its services to new markets.