Voted one of the most innovative security companies out of the gate, Sequoia-backed Evervault has gone from strength to strength. Their flexible security platform gives customers complete control of their payments infrastructure, allows them to avoid gateway vendor lock-in, and accelerates any card product launches with confidence. This means engineering teams can quickly secure sensitive data, freeing up capacity for their core product.

Companies all over the world trust Evervault to secure and enhance their payments stack. Today, top tier customers, including Ramp and Rippling, are using their encryption engine to build secure and compliant payment workflows.

As Evervault grew, it exposed deep cracks in their billing infrastructure. A mix of in-house metering, Stripe Billing, spreadsheets, and DocuSign made it hard to manage fast-moving usage contracts and flexible customer deals.

CEO Shane Curran knew they needed a billing system that could handle complex usage-based pricing without drowning the team in manual work or compliance headaches.

A billing engine that couldn’t scale

As Evervault’s customer base expanded, billing became one of the company’s biggest operational bottlenecks. Evervault was moving at speed and introduced new product offerings frequently. The downside? There was no way to actually charge their customers.

Evervault’s pricing model includes a mix of subscriptions, add-ons, consumption fees, and overages across multiple products, most of which meter usage beyond fixed thresholds. Decrypts, file decrypts, and inspections all incur overages, billed monthly at varying rates.

Managing this on Stripe meant creating bespoke price objects per customer, building a custom automation, and reconciling overages each month. This was an error-prone process that drained engineering resources. Along with the lack of real-time metering, the setup quickly proved unscalable for usage-based billing.

Every new customer deal added further strain. Because of the way Evervault’s contracts were structured, Stripe couldn’t support mixing and matching different billing periods, such as subscription platform fees alongside usage-based products. That limitation made an already manual process even more rigid and error-prone as the team had to maintain the source of truth as separate records for invoice-based customers versus recurring card payments.

Pricing changes added further complexity, since Evervault needed to create multiple price objects for each customer, leaving the team juggling different scenarios across products and contracts.

“Most of our deals are enterprise, order form–based contracts. Each time we onboarded a new customer, we had to set up a new pricing object with the customer name in the description to keep track of it in Stripe,” Curran recalls.

Meanwhile, finance relied on spreadsheets to track which customers were billed via invoices and which were on recurring payments. Deferred revenue accounting was handled manually, slowing down reporting cycles and creating even more risk for errors.

All in all, the time spent on billing processes was a fragile orchestration made up of multiple manual processes across several teams, including finance, sales, and engineering for usage-based billing.

Facing rising transaction costs

The cost of Evervault’s setup was also mounting. As an example, on a single $50,000 invoice, they would pay $2,000 in card processing fees. This was a cost inefficiency that simply wasn’t acceptable nor sustainable.

At the same time, product teams struggled with managing price objects. To support multiple pricing scenarios, Evervault had to create redundant products in Stripe, leaving their catalog cluttered and their workflows inefficient. Migration loomed as another challenge: moving customer data and forward-looking invoices out of Stripe while maintaining continuity felt daunting.

At the time, Evervault could only see final amounts at the point of invoices being ready to get released, making it impossible to track usage or billing in real time.

Engineering time lost to billing

Behind the scenes, Evervault’s billing setup wasn’t just a financial bottleneck—it was an engineering burden. The team had written and maintained thousands of lines of custom code to handle billing calculations and usage aggregations. Over time, this created a fragile system that slowed the company’s ability to adapt.

Ultimately, the pace of change became a critical issue.

While the GTM team was closing new enterprise deals at speed, often with bespoke pricing models, the billing infrastructure couldn’t keep up. Updating or modifying billing logic required a full engineering project, diverting resources from product development into revenue operations.

“Any changes to billing calculations required a dedicated engineering project, and billing calculations were hastily managed either late (after the billing date) or missed completely.”

Limited ability to experiment with pricing

This rigidity also undermined pricing experimentation. Evervault ran a dual motion: a significant self-serve business alongside a traditional enterprise sales model. Larger contracts nearly always included non-standard pricing structures, but the billing system wasn’t flexible enough to support this level of customization.

Instead of enabling experimentation, billing became a constraint on growth, draining engineering time while limiting the company’s ability to iterate on pricing strategy.

Going live with Alguna in two weeks

A key goal was to ensure the transition would be seamless for customers. It was important for Evervault to make sure they wouldn't notice the change except for receiving receipts from a different source.

Once Evervault started sending usage events to Alguna, the rest of migration was handled by Alguna’s internal team that mapped all historical contracts to their invoice anchor dates without losing the visibility on past data.

On top of that, Alguna managed to keep the same payment tokens previously used so there was no impact on the end customer in the way how they managed default payments method.

Removing compliance blockers

Finally, there were compliance concerns. With strict PCI obligations, the team was cautious about exposing payment data to third-party systems, limiting their flexibility. The idea of migrating years of Stripe data into a new platform only added to the hesitation.

Alguna’s approach removed that blocker by allowing Evervault to keep its business and pricing logic in Alguna’s platform while still supporting third-party payment providers—without ever needing to handle sensitive customer payment data directly.

Sales and finance in lockstep

Before Alguna, billing lived in silos. Contracts were signed through DocuSign and then handed off to finance, who had to configure everything manually. The process created friction between teams and slowed down the path from quote to cash.

With Alguna, that handoff has disappeared. Sales now configures billing directly within the quoting process—before the contract is even signed. The entire quote-to-cash flow is managed end-to-end by the sales team, with no need for finance intervention.

But the benefits extend beyond efficiency.

As usage data is being ingested automatically, both Evervault and their customers can monitor usage and billing continuously, eliminating billing surprises and improving transparency. That real-time visibility means Evervault can plan ahead with confidence as they have the ability to track revenue and product performance across the board in near real time.

Alguna collaborates closely with the Evervault team on the product roadmap, incorporating feedback into new features and making sure the partnership is not just a solution—but an engine for ongoing growth.

“After moving to Alguna, finance and sales have become tightly coupled and are in lockstep,” Curran shares.