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§ Private Profile · Waltham, MA, USA
MetraTech is a technology company.
Mitratech delivers comprehensive enterprise software solutions designed for legal, risk, compliance, and human resources professionals. Its product portfolio integrates advanced automation, analytics, and artificial intelligence to optimize critical business functions such as matter management, electronic billing, legal spend analysis, governance, risk, and compliance (GRC), and HR case management. These offerings are built to provide clients with enhanced operational efficiency, streamlined workflows, and data-driven insights for complex administrative and regulatory landscapes.
The company was established in 1987 in Los Angeles, California. The founding insight likely stemmed from a recognition of the increasing complexity and volume of legal and compliance obligations faced by corporations, necessitating a more systematic and technologically driven approach than traditional manual processes allowed. Mitratech aimed to develop integrated software platforms that could standardize, manage, and report on these critical enterprise functions.
Mitratech serves a broad client base, including corporate legal departments, risk and compliance teams, and HR professionals within large organizations across numerous sectors, from financial services and healthcare to government and manufacturing. The company's overarching vision is to enable its clients to navigate their intricate operational environments with greater confidence, empowering better decision-making and driving superior outcomes through its robust suite of interconnected compliance technology and intelligent analytical tools.
MetraTech has raised $61.0M across 3 funding rounds.
MetraTech has raised $61.0M in total across 3 funding rounds.
MetraTech has raised $61.0M across 3 funding rounds. Most recently, it raised $30.0M Series U in September 2012.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 1, 2012 | $30M Series U | — | Animoca Brands, Gumi Cryptos Capital, Norwest Venture Partners, Tenaya Capital | Announced |
| Nov 1, 2004 | $8M Series C | — | Animoca Brands, Gumi Cryptos Capital, Norwest Venture Partners, Tenaya Capital | Announced |
| Apr 1, 2000 | $23M Series B | — | Animoca Brands, Gumi Cryptos Capital, Norwest Venture Partners, Tenaya Capital | Announced |
MetraTech was a technology company founded in 1998, specializing in MetraNet, a web services-based billing system leveraging XML technology to accelerate commerce for telecom and enterprise clients.[2][3] It served businesses needing flexible, scalable billing solutions, solving the problem of rigid legacy systems by enabling unlimited customization and rapid deployment in dynamic markets.[3] The company achieved early revenue of around $9 million with $37.5 million in funding before its acquisition by Ericsson, marking solid growth momentum in the billing software space.[5]
Note that "MetraTech" is distinct from Mitratech (founded 1987), a separate firm focused on legal, compliance, and HR software for Fortune 500 companies; searches often conflate the two due to similar names, but MetraTech specifically refers to the billing vendor.[1][4]
MetraTech was established in 1998 in Waltham, Massachusetts (later associated with Boston), emerging during the rise of web services and XML to address billing complexities in telecom and high-volume commerce.[2][3] Little public detail exists on specific founders or their backgrounds, but the company quickly gained traction by developing MetraNet, a pioneering platform for convergent billing that supported unlimited scalability.[3] A pivotal moment came with its acquisition by Ericsson in the early 2010s, integrating it into a major telecom giant and expanding its reach globally.[3]
MetraTech rode the late-1990s telecom boom and shift to IP-based services, where operators needed agile billing for data, voice, and emerging mobile commerce amid deregulation and convergence trends.[2][3] Timing was critical as 3G/4G rollouts demanded real-time, convergent billing—market forces like rising data usage and competition favored innovators like MetraTech over siloed legacy vendors. It influenced the ecosystem by pioneering XML-driven billing, paving the way for modern cloud-native systems now dominant in telecom (e.g., TM Forum standards), and its Ericsson integration amplified standards adoption globally.[3]
Post-acquisition, MetraTech's technology lives on within Ericsson's portfolio, likely evolved into broader 5G/edge billing solutions amid cloud migration and IoT growth. Trends like AI-driven monetization and subscription economies will shape its legacy, potentially expanding to non-telecom verticals. Its influence may evolve through Ericsson's divestitures or open-source contributions, reinforcing scalable billing as a commodity—echoing its origins as a nimble disruptor in rigid enterprise software.[3]
MetraTech has raised $61.0M in total across 3 funding rounds.
MetraTech's investors include Animoca Brands, Gumi Cryptos Capital, Norwest Venture Partners, Tenaya Capital.