Chameleon which offers low- and no-code tools to enable software companies to customise the look of their apps has raised $13 million.
The funds, which bring Chameleon’s total amount raised to $14.8 million and are a part of a Series A fundraising round led by Matrix Partners with participation from True Ventures, will be used to expand the platform and increase headcount from 30 to about 45 by the end of the year.
Annual corporate contracts sold to executives are being replaced with month-to-month payments from end users; according to a recent poll, more than 50% of SaaS companies now employ usage-based pricing. This directly implies that the ability to make decisions is increasingly in the hands of the individual user, which presents a challenge for software manufacturers without a way to interact with these consumers.
“It is crucial that vendors are able to hold users’ interest and support them in experiencing “aha” moments, so they can find value and keep deepening their engagement.”
However, putting a product and technical team into this project puts core feature building at risk, creating a space where Chameleon fills in by providing a way to communicate functional value.
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