Orb Joins Adyen to Unify Revenue Design

Today, Adyen has entered into a definitive agreement to acquire Orb, the modern standard for usage-based billing and monetization infrastructure. For Adyen, it enhances their platform with the ability to serve the fast-growing cohort of companies that don’t just bill by the seat, but by consumption or outcome. For Orb, it means joining forces with a payments platform on a global scale and the ultimate goal of convergence into a single infrastructure experience for merchants across billing and payments. And for the market, it’s a signal that usage-based monetization has gone from experimental to foundational, particularly in this AI-powered age. The data confirms it: 85% of companies using subscription or seat-based pricing now layer in usage-based pricing on top.

Our Conviction to Invest

Menlo’s conviction to lead Orb’s Series A in 2022 was a decade in the making, combining firsthand operating experience with the deep thesis work our team performed. We were convinced that billing products on the market lagged behind the needs of modern tech companies seeking flexible consumption and hybrid models, rapid pricing and packaging iteration, and connected revenue workflows between engineering and finance.

When we discovered Orb, we felt the company sat squarely in what we called the Modern Growth Stack—a new generation of data-enabled platforms that connect product decisions with growth and revenue outcomes. Alongside Eppo, which redefined experimentation infrastructure (and was acquired by Datadog last year), Orb has redefined how companies turn value delivery into value capture. 

We had an instant connection with the Orb founders, finishing each other’s sentences on failed implementations with incumbents and sharing a vision for helping companies unlock revenue via pricing. We were so enamored by the product, team, and market opportunity that, to help close the deal, we built them a Python SDK as a gift. 

Founder-Market Fit

With Alvaro and Kshitij, it was clear that these founders weren’t just building another billing tool, but rather the revenue infrastructure layer that modern software companies desperately needed. Founder-market fit matters enormously, and with Orb, it was off the charts. Alvaro and Kshitij didn’t stumble into the billing problem; they were buried under it with a ballooning internal monetization system at Asana. From this internal tool, they saw a market opportunity, and their product execution was equally impressive. They had the technical depth to architect something genuinely scalable (Orb was built from day one to ingest tens of thousands of events per second because lost events are lost revenue), and the product instincts to build something truly cross-functional (Orb streamlines workflows across finance, sales, engineering, and product/growth). Alvaro and Kshitij also excel at bridging developer rigor with business pragmatism. The team has seamlessly earned the trust of engineers while unlocking leverage for commercial teams. 

The Power of Orb

Burned by rigid legacy tooling, Orb started with a flexible data model that ingests all usage events (not just the ones you’ve already decided to bill on), so that commercial teams can iterate on pricing and packaging without needing to file an engineering ticket.

The result is a unified system, which Orb refers to as a revenue design platform, that gives every stakeholder what they need. Engineering gets clean, reliable metering infrastructure with the ability to backdate and backfill data so billing stays accurate even when things get messy. Product and growth get a sandbox to run pricing experiments, simulate price changes before they go live, and evolve packaging without disrupting existing customers. Sales gets the ability to handle bespoke deal structures (volume discounts, prepaid credits, minimum commitments, overages) without custom code. Finance gets invoicing, automated revenue recognition aligned to ASC 606, and reporting they can actually trust. And for AI and agentic companies specifically, Orb handles the unique complexity of token, credit, and per-action pricing models, including spend controls and customer-facing dashboards that build transparency and reduce churn.

Customers like Vercel, Replit, Supabase, and Glean didn’t just save engineering time by using Orb. It fundamentally changed how they think about monetization, with billing going from being a cost center to a growth lever.

A New Home at Adyen

Together, Adyen and Orb give merchants a complete monetization stack, from metering to payment processing. The real unlock is what happens when billing and payments stop operating in silos. Adyen’s global reach, banking licenses, and enterprise relationships give Orb the infrastructure to reach a broader audience and grander aspirations.

Congratulations to Alvaro, Kshitij, and the rest of the Orb team on a huge outcome. You brought deep customer empathy, extraordinary technical ambition, and a relentless focus on product innovation in this category. Watching you scale a product trusted by some of the fastest-growing companies in the industry has been one of the great privileges of our work at Menlo.