What is Metrc?
Metrc provides a comprehensive, web-based solution designed for end-to-end tracking and tracing of marijuana plants and products. Deployed since 2013, its platform comprises a browser interface and mobile application catering to both industry operators and regulatory bodies. The system's backend leverages secure Web Services, a robust Database, and an Application Programming Interface (API) to ensure compliance with state-specific rules, regulations, and statutes. Metrc's technology is currently contracted by numerous states, including Alaska, California, Colorado, Oregon, Maryland, Michigan, Ohio, Massachusetts, Montana, Nevada, Louisiana, and Washington D.C., demonstrating its critical role in government oversight of legalized marijuana enforcement.
How much funding has Metrc raised?
Metrc has raised a total of $50.4M across 2 funding rounds:
Other Financing Round
$50M
Debt
$350K
Other Financing Round (2018): $50M, investors not publicly disclosed
Debt (2020): $350K led by PPP
Key Investors in Metrc
PPP
Public-Private Partnership
What's next for Metrc?
The substantial enterprise-level funding, particularly the recent strategic investment, positions Metrc for continued expansion and enhancement of its compliance technology. This capital infusion is expected to fuel further development of its tracking and tracing capabilities, potentially expanding its reach to new regulated markets. The company's established presence and deep integration with state regulatory frameworks suggest a focus on solidifying its market leadership and adapting to evolving legislative landscapes within the cannabis sector. Future growth will likely involve scaling operations to meet demand from existing and new state contracts, alongside potential technological advancements to maintain its competitive edge.
See full Metrc company page
