Metrc Secures $50M in Funding

Funding Rounds

▤ Summary

Metrc , a Lakeland, FL-based provider of regulatory solutions for the legal cannabis industry, secured $50m in funding.The round was led by Tiger Global Management and Casa Verde Capital.Led by CEO Jeff Wells, Metrc develops supply chain driven track-and-trace systems, built as a solution for cannabis regulators.The system, which services 11 states and Washington D.C., allows cannabis industry operators to report required events and information, and enables regulators to oversee license holders’ activities to monitor and enforce compliance.Using Radio Frequency Identification technology and serialized item tracking, the company gives regulatory bodies real-time visibility into industry operators’ inventories.

$ Funding

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Amount - Total raised
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Date October 25, 2018 Announcement date
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Investors - Lead investors
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Company - Funded company

▥ Classifications

industries
No industries detected
applications
ERP & Process Management

◇ AskAI Classifications

Labels
Track and Trace Software RFID Technology Regulatory Compliance Software

▦ Linked Companies

Metrc LLC
$10M to $25M