Schematic, a startup that develops software to help companies manage pricing and billing, has raised $4.8 million.
Founded in 2023, Schematic has built a platform that lets businesses add pre-made software components to their website or app. These include embeddable user interfaces, flexible APIs, and dashboards for administrators. The startup says these can be added with a few lines of code, allowing businesses to focus resources on areas such as products, rather than pricing.
“Companies are looking to offer different tiers of service to customers but are often under-resourced when building products internally,” Fynn Glover, cofounder at Schematic, told Business Insider. “You have to solve this problem from the product and developers are reinventing the wheel when it comes to pricing and packaging.”
Companies like Stripe may work with part of the puzzle of payments and billing for SaaS businesses, but Schematic plans to reduce friction by offering usage-based tracking, metering, and feature access control.
The $4.8 million in seed funding was raised from MHS Capital, NextView, Active Capital, Atlanta Ventures, and Ritual Capital, along with founders from CrowdStrike, LaunchDarkly, and Salesloft.
The startup will use the funding to incrementally expand its team. Glover told BI that Schematic would not be doing meaningful hiring until it raises a Series A.
The company is targeting startup customers and is already working with several businesses to build out its use cases.
Check out Schematic’s seed pitch deck below:
