Chargify Acquires Analytics Firm Keen, Launches Events-Based Billing Product For B2B SaaS Companies
Leading B2B SaaS Billing Platform Chargify introduces the the next wave of billing, and it’s events-based
Leading billing platform for B2B SaaS, Chargify, is taking its customers into the future and leapfrogging existing billing solutions with the launch of its “Events-Based Billing” product today.
Events-Based Billing allows Chargify customers to link the value they provide to the invoices they send out by leverage the massive amounts of data these companies are gathering. Feeding this data into Chargify, in real time, gives Chargify customers the power to bill on any aspect of that event, such as time spent and emails sent. With Events-Based Billing Chargify customers can now utilize end customer interactions and behaviors within their products for billing purposes.
This is the vision of recently-placed CEO Paul Lynch, who shared this regarding the billing space: “The world went into a direction of subscription billing, and even consumers are starting to get fatigued by that model. In the SaaS/B2B world, the big names leverage data to bill their customers.”
According to Forrester, 84% of companies will charge based on usage by 2021. Companies like Twilio and Amazon have enjoyed a competitive advantage by stepping beyond usage based billing and instead have been billing based on events for years. Until now, there hasn’t been an elegant way of packaging up your own data and making sense of it in order to follow what the big guys are doing.
Lynch made the offer to acquire Keen when it became clear that Keens ability to send data to Chargify’s billing platform in real-time while maintaining all the valuable attributes that provide insight was a key advantage:
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“Managing streams of data in real-time and turning them into billable events was only possible thanks to the platform built out by the team at Keen over the past few years. Our unique partnership is the secret weapon.” Lynch said.
Chargify’s VP of Strategic Initiatives, Laith Dahiyat, will take over as General Manager of Keen, taking the reins from Ben Kuhn, who had served as Keen’s CEO.
“This journey started last year when Chargify’s CEO, Paul Lynch, came to us with the bold idea that the future of billing is events-based, and in order for Chargify to get ahead of the trend, they would need a way to manage streams of data in real-time and turn them into billable events. Here we are.” – Ben Kuhn said.
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