Formata
Formata (DBA Limitr) provides a WebAssembly-based pricing runtime for usage-based software, enforcing limits and metering consumption via versioned policy documents. It sells an open-source engine plus a managed Limitr Cloud platform to usage-based SaaS and AI-vendor customers.
- Company typePrivate
- Founded2018
- HeadquartersArvada, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Formata does
Formata, Inc., doing business as Limitr, builds a pricing runtime for usage-based software. The core product is a WebAssembly-powered policy enforcement engine that runs in-process inside the customer's application, executing pricing and metering decisions in microseconds without a network call on the hot path. Pricing models are defined as versioned policy documents (YAML, JSON, TOML, or the company's native Stof data runtime) that describe plans, entitlements, credits, exchange rates, reset schedules, invoicing, and overage behavior. The same policy encodes both cost and price inputs, enabling real-time per-customer, per-entitlement margin visibility.
Formata distributes the enforcement engine as open-source via npm (@formata/limitr) and GitHub, allowing developers to self-host locally. Limitr Cloud is the managed counterpart, adding hosted policy management, per-customer analytics, native Stripe integration for usage-based invoicing, real-time alerting routed to Slack, email, and webhooks, and a Limitr Network feature for inter-service policy calls. The product is offered with a product-led growth motion (open source, documentation, Discord community) complemented by a sales-led enterprise motion via founder-led Calendly demos. Target customers are usage-based software companies — including AI-vendors (Claude token metering), API products, seat-based SaaS, and storage services — that need granular consumption enforcement and margin insight.
Revenue mechanics derive from the managed Limitr Cloud subscription and usage-based billing flows (overages, topups, subscriptions) executed through Stripe. No public pricing is disclosed; the open-source engine is free. Formata is a privately held US-incorporated entity; no funding rounds, headcount, or revenue figures are disclosed in the available sources.
Formata firmographics
Firmographics- Name
- Formata
- Legal name
- Formata, Inc.
- Website
- https://formata.io
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Formata (DBA Limitr) provides a WebAssembly-based pricing runtime for usage-based software, enforcing limits and metering consumption via versioned policy documents. It sells an open-source engine plus a managed Limitr Cloud platform to usage-based SaaS and AI-vendor customers.
- Ownership category
- akta.pro rank
Formata industry classification
Industry- Product category
- Usage-Based Billing Infrastructure
- NAICS
- Software Publishers (5132)
- SIC
- Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Recurring Billing & Subscription Payments Enablement (FSAMACAF)
- akta.pro secondary industry
- Enterprise Application License Advisory, Vendor Management & Optimization (BPAEAGAO)
Keywords
Where Formata is headquartered
LocationHeadquarters
- HQ city
- Arvada
- HQ country
- United States
- HQ region
- North America
Markets served
Formata business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Limitr Cloud Platform: Managed cloud platform offering policy hosting, per-customer analytics, Stripe integration, usage-based invoicing, real-time alerting, and Limitr Network. Shared enforcement engine with the open source version but managed infrastructure.
- Usage-Based Billing: Limitr tracks usage against plans and can trigger billing events for overage consumption, topup purchases, and subscription charges through Stripe integration.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Formata product offering
Product offeringCore offering
Formata builds Limitr, a pricing runtime for usage-based software. The product defines pricing models as versioned policy documents (YAML, JSON, TOML, or Stof) that enforce limits and meter usage in-process via WebAssembly with microsecond latency. Limitr Cloud adds managed policy hosting, per-customer analytics, Stripe integration, usage-based invoicing, and real-time alerting on a subscription basis.
Product overview
Formata offers Limitr as a usage-based pricing runtime for software products. The portfolio consists of the core Limitr enforcement engine (available as self-hosted open source or as Limitr Cloud managed platform), which executes pricing policies via WebAssembly in-process with microsecond latency. Limitr Cloud adds managed dashboard, Stripe billing integration, real-time alerting, and Limitr Network. The companion Stof data runtime powers the policy engine's native expression language. The product enables usage-based metering, margin tracking, and AI token cost management.
Differentiator
Problem solved
Functional benefit
Brands
- Limitr: The Pricing Runtime for Usage-Based Software - a policy-based enforcement engine for metering, limiting, and margin tracking
- Limitr Cloud
- Stof
- Limitr Network
Products and services
- Limitr Open Source Enforcement Engine Self-hosted, in-process enforcement engine for usage-based pricing. Runs entirely via WebAssembly with no network calls or external dependencies. Policies defined in YAML, JSON, or Stof are loaded directly and executed inside the application for developers and engineering teams building usage-based products.
- Limitr Cloud Managed version of the Limitr enforcement engine for software companies. Policies live in the Cloud dashboard, versioned and auditable without redeploys. Adds per-customer analytics, native Stripe integration, usage-based invoicing, real-time alerting via Slack/email/webhooks, and the Limitr Network capability layer. Targets scaling usage-based software companies with complex pricing models.
- Limitr Enforcement API The core programmatic API for Limitr, exposing allow, increment, decrement, check, remaining, value, and customerMarginSnapshot operations. Identical across self-hosted and Cloud modes, enabling a one-line switch between deployments. Used by developers integrating usage-based pricing enforcement into their applications.
- Limitr v0.6.15 — Governor, Calendar Resets & Rate Intelligence Major version release of the Limitr enforcement and metering layer adding Governor token-bucket rate limiting, Calendar Resets for UTC-aligned reset schedules, and Rate Intelligence with EWMA smoothing for consumption forecasting. Released as a generally available product update for users of both the open-source engine and Limitr Cloud.
Quantifiable outcome
- Enforcement executes in microseconds with no network dependency
- +2 more outcomes
Companies that use Formata
Customer profileSegments2 records
Ideal customer profiles2 records
Formata technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability2 records
Feature7 records
Formata partnerships and signals
Strategic signalRecent moves6 records
Expansion highlights6 records
Formata competitors and assessment
Company assessmentBroad incumbents
- Stripe Billing: Stripe Billing is a large incumbent offering usage-based and subscription billing as part of Stripe's payments platform. It is the default billing infrastructure for many SaaS companies and bundles distribution, compliance, and payments advantages Limitr lacks.
- Zuora: Zuora is an established subscription and usage-based billing platform for enterprise SaaS. It serves a much broader billing category and offers overlapping capabilities for entitlement management and invoice generation.
- Recurly: Recurly is a subscription billing platform with usage-based billing capabilities for SaaS and consumer products. It is a broader incumbent with overlapping metering and invoicing functionality.
- Maxio: Maxio (combined Chargify and SaaSOptics) offers subscription billing and revenue recognition for SaaS. While more focused on revenue recognition than real-time enforcement, it is an adjacent comparable for usage-based SaaS finance operations.
Direct peers
- M3ter: M3ter is a usage metering and billing platform purpose-built for B2B SaaS. It targets the same ICP as Limitr with similar outcomes (accurate usage capture, billing integration), and is a frequently compared alternative.
- Orb: Orb is a usage-based billing and pricing infrastructure provider for SaaS. It targets the same buyer (finance + product teams at usage-based SaaS) and competes directly on metering, pricing models, and invoice generation, making it the closest direct competitor to Limitr Cloud.
- Stigg: Stigg provides feature gating, entitlements, and usage-based pricing for SaaS. It overlaps with Limitr's policy enforcement and entitlement tracking, particularly for seat-based and consumption-based plans.
- Lago: Lago is an open-source usage-based billing engine. It competes with Limitr on the open-source distribution model and the same core use cases (metering, billing, pricing events), though Lago emphasizes event-driven backend architecture rather than in-process policy enforcement.
- Metronome: Metronome is a usage-based billing platform for SaaS and AI companies. It directly overlaps with Limitr's core value proposition of metering consumption and triggering billing events, though Metronome runs as a remote billing system rather than an in-process policy engine.
Emerging players
- Vouchery: Voucherify is an API-first promotional and loyalty infrastructure platform with usage-based redemption mechanics. It overlaps with Limitr on entitlement tracking and customer credit/exchange patterns, though its primary focus is promotions.
Market position
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights5 records
Customer concentration
Formata social profiles
Digital presenceFormata financial estimates
Financial estimateRevenue estimate
Valuation estimate
Formata leadership team
Management profileNumber of profiles
Profiles1 record
Formata funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Formata M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Formata
What does Formata do?
Formata builds Limitr, a pricing runtime for usage-based software. The product defines pricing models as versioned policy documents (YAML, JSON, TOML, or Stof) that enforce limits and meter usage in-process via WebAssembly with microsecond latency. Limitr Cloud adds managed policy hosting, per-customer analytics, Stripe integration, usage-based invoicing, and real-time alerting on a subscription basis.
Is Formata a public or private company?
Formata is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Formata founded?
Formata was founded in 2018. It employs 1 to 10 people.
Where is Formata based?
Formata is headquartered in Arvada, United States, in the North America region.
How does Formata make money?
Two revenue lines are on record. Limitr Cloud Platform is the primary driver. The others are usage-Based Billing.
Who are Formata's main competitors?
Broad incumbents on record are Stripe Billing, Zuora, Recurly and Maxio. Direct peers are M3ter, Orb, Stigg, Lago and Metronome. Vouchery is listed as an emerging player.
Does Formata have an API?
Yes. Limitr exposes a minimal enforcement API for allow(), increment(), decrement(), check(), remaining(), value(), and customerMarginSnapshot() operations. Policies are loaded from YAML, JSON, TOML, or Stof format. Cloud mode connects via WebSocket for managed policies, per-customer analytics, Stripe integration, and real-time alerting. Capabilities feature exposes policy logic as callable tool definitions for Claude AI agents. Developer documentation is at docs.limitr.dev.
What industry is Formata in?
Formata's product category is Usage-Based Billing Infrastructure. Its primary akta.pro industry code is FSAMACAF, Recurring Billing & Subscription Payments Enablement, with a secondary code of BPAEAGAO, Enterprise Application License Advisory, Vendor Management & Optimization. Its NAICS code is 5132 and its SIC code is 7372.