Cheddar raises $1.25m for seed investment round

Indiana-based billing platform Cheddar has raised $1.25m in seed funding led by M25 Group.

Other backers to the funding round included Connectic Ventures, Harbor Street Ventures, Warhawk Ventures, SixThirty, Cultivation Capital, Little Engine Ventures and Elevate Ventures.

Founded in 2009, the company is a billing platform for SaaS businesses, using its real-time usage tracking and billing automation to help companies get monetised. The platform lets users define tracked items and pricing, customers and usage metrics are then sent through Cheddar’s API, with the platform automatically billing customers on a recurring basis.

Through the service, clients are able to access subscription data, automate customer communication and billing.

This latest capital will enable Cheddar to market nationally to startups and enterprises.

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