Total amount raised
$22.1 Million
Latest funding date
03/01/2024
Location
Lago has successfully raised funding over three rounds, with the latest being a Series A round. The company is backed by 11 investors, including New Wave (VC) and Romain Huet.
As an open-source billing platform, Lago offers transparency, control, and flexibility for managing various pricing models. Keep reading to explore the intricacies of Lago's fundraising journey and the investors backing this innovative platform.
What Is Lago?
Lago is a private company based in Paris, Ile-de-France, France, specializing in open-source billing infrastructure for product-led SaaS companies. The company operates in the database, information technology, and software industries, providing transparency, control, and flexibility for managing various pricing models.
With an employee count ranging from 11 to 50, Lago offers features such as real-time usage metering, billing and invoicing, entitlements management, cash collection, and revenue analytics. The platform supports multiple industries, including AI, enterprise, finance, and IoT, and caters to diverse team needs like engineering, finance, operations, and product management.
How Much Funding Has Lago Raised?
- Pre-Seed Round
- Amount Raised: USD 125,000
- Date: August 2021
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and growth of Lago's open-source billing system.
- Seed Round
- Amount Raised: USD 7,000,000
- Date: January 2023
- Lead Investors: SignalFire
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop Lago's flexible and composable billing engine driven by open-source technologies.
- Series A Round
- Amount Raised: USD 15,000,000
- Date: March 2024
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the company, expand the team, and grow the market presence, particularly in the US.
Total Amount Raised: USD 22,125,000. Current Valuation: Not publicly disclosed.
Key Investors
- FirstMark
- Details: FirstMark is a venture capital firm known for its commitment to open source and developer tooling. Matt Turck, General Partner at FirstMark, has joined Lago's board.
- Investment Focus Areas: Open source, developer tooling, early-stage technology companies.
- Notable Investments: Pinterest, Shopify, Airbnb.
- SignalFire
- Details: SignalFire is a venture capital firm that focuses on seed-stage investments. They led Lago's seed funding round.
- Investment Focus Areas: Technology-driven startups, various stages.
- Notable Investments: Grammarly, Frame.io, Ro.
- Y Combinator
- Details: Y Combinator is a well-known startup accelerator that provides seed funding and support to early-stage startups. Lago participated in their Summer 2021 cohort.
- Investment Focus Areas: Early-stage startups across various sectors.
- Notable Investments: Dropbox, Airbnb, Stripe.
- New Wave
- Details: New Wave is a venture capital firm that participated in Lago's funding rounds. They focus on innovative technology companies.
- Investment Focus Areas: Innovative technology companies.
- Notable Investments: Sorare, Alan.
- Script
- Details: Script is a venture capital firm that participated in Lago's funding rounds. They are likely focused on technology and innovative startups.
- Investment Focus Areas: Technology, innovative startups.
- Notable Investments: Not detailed in the sources.
What's Next for Lago?
As Lago looks to the future, the opportunities are vast. The company aims to expand its open-source billing platform, targeting industries like AI, enterprise, finance, and IoT. With a strong foundation of $22 million in funding and a growing community of developers, Lago is well-positioned to capitalize on the increasing demand for flexible and customizable billing solutions.
Future fundraising opportunities appear promising, with potential for Series B and beyond. The successful implementation of their three-phase plan could attract further investment, enabling Lago to scale operations and enhance their product offerings. However, challenges such as competition from established players and maintaining an open-source community will require strategic navigation.
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