Cheddar raises $1.25m Seed Funding

Indiana based software billing API Cheddar has raised $1.25m in Series Seed funding led by M25 group. Cheddar is one of the first technology companies based in Bloomington, Indiana to raise institutional venture capital from outside sources.

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Until Cheddar, software developers were required to build or integrate usage tracking, customer communications, pricing management, overage handling, payment processing, revenue optimization and SaaS reporting into their software. Cheddar consolidates these complexities into a few API calls centered around usage. “Now teams can be up and billing immediately and at a fraction of the cost of what SaaS companies are used to,” said Mike Trotzke, CEO of Cheddar. Marc Guyer and Mike Trotzke founded Cheddar in 2009 as part of their venture studio, SproutBox. While initially built to speed the development of startups at SproutBox, Cheddar has grown organically to bill millions each month. “Cheddar was built in Bloomington because of our access to talent, low cost of doing business, and the creativity we find in the startup community,” said Trotzke.

https://bloomingtontech.com/bloomington-based-billing-company-cheddar-raises-1-25-million-in-funding/