We are pleased to share that Argus Partners has advised Togai Inc., an event-based, real-time metering and rating infrastructure for usage-based businesses, on its acquisition by Zuora Inc., a leading monetization platform provider for recurring revenue businesses.
As per Zuora’s Press Release, Togai's metering and rating solution will become a part of Zuora’s existing product suite, and will be available both as a new standalone usage offering and with Zuora’s existing consumption solution. This acquisition will enhance Zuora's monetization suite, enabling companies to leverage generative AI to define and manage various pricing models.
Commenting on the acquisition, Abhishek Rajagopal, CEO and Co-founder at Togai stated, "Developers spend months building internal metering and rating systems, which can quickly evolve into a dedicated team of engineers as companies realize that building a usage-based billing system is not a one-time effort. Togai makes it possible to go live in hours with an out-of-the-box, flexible solution to model any type of pricing and reliably scale. Combining Zuora and Togai is the right decision to bring together deep metering and rating with the scale of Zuora’s end-to-end monetization technology."
As per Tin Tzuo, Founder and CEO at Zuora, “Togai’s sophisticated metering and rating extends Zuora’s market-leading monetization suite to accelerate usage-based models. Together, we will be strategically positioned to provide the right solutions for developers and finance teams to power the next generation of monetization.”
As a part of the acquisition, Argus Partners also advised the existing investors of Togai Inc. i.e., Together Fund and Boldcap on the sale of their respective shares.
The team at Argus Partners comprised of Neha Madan (Partner), Utsav Gandhi (Principal Associate) and Abhishek Tripathy, Aniket Tyagi (Associates).