What is Metrc?
Metrc, first deployed in 2013, offers a comprehensive web-based solution comprising a browser interface and a mobile application designed for both industry operators and regulatory users. Its core functionality provides complete tracking and tracing of marijuana plants and products through a secure backend system of Web Services, a Database, and an Application Programming Interface (API). This platform was specifically engineered for government agencies overseeing legalized marijuana enforcement, delivering essential visibility to ensure adherence to rules, regulations, and statutes. Metrc's established presence is evident through its contracts with numerous states including Alaska, California, Colorado, Oregon, Maryland, Michigan, Ohio, Massachusetts, Montana, Nevada, Louisiana, and Washington D.C., positioning it as a critical infrastructure provider in the regulated cannabis ecosystem.
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 capital and recent strategic investment signal Metrc's ongoing commitment to scaling its operations and enhancing its technological capabilities. This financing is expected to fuel further development of its tracking and tracing platform, potentially expanding its reach into new jurisdictions or deepening its feature set to address evolving regulatory landscapes. The company's focus on government contracts suggests a strategy centered on long-term, stable revenue streams, with future growth likely driven by securing new state-level agreements and providing ongoing support and updates to its existing client base. Continued investment in its API and data security will be paramount to maintaining its position as a trusted partner for regulatory bodies.
See full Metrc company page
