Metric Mate, a data analytics company helping fitness enthusiasts track their workouts, has seen its fair share of ups and downs since its inception. Metric Mate has carved out a unique niche in the crowded fitness technology market, founded by the entrepreneurial trio of M-T Strickland, Braxton Davis, and Ecleamus Ricks. From their appearance on Shark Tank to the growth and evolution of their operations, Metric Mate’s net worth and prospects paint an intriguing picture of the company’s journey.
Who is Metric Mate?
Metric Mate is a technology company specializing in fitness data tracking and analysis. Their flagship product is the Training Accountability Partner (TAP) sensor, which can be attached to various gym equipment to monitor an individual’s workout performance. This data is then seamlessly synced to the Metric Mate mobile app, allowing users to review their progress, set goals, and share their accomplishments with friends and family.
Who Is The Founder Of Metric Mate?
M-T Strickland, Braxton Davis, and Ecleamus Ricks Jr. are the three co-founders of Metric Mate. Strickland, the technical mind behind the company, holds electrical engineering and mathematics degrees and has worked at companies like The Clorox Company and Murata.
Braxton Davis, the legal expert, serves as Facebook’s general counsel, while Ecleamus Ricks Jr., the software engineer, is based in Austin, Texas. The trio’s diverse backgrounds and complementary skill sets have been instrumental in shaping Metric Mate’s growth.
| Founded | 2017 |
|---|---|
| Patents | Three patents to protect IP |
| Funding | Techstars, Atlanta Accelerator |
| Launch Strategy | Initially targeted athletes and regional gyms |
How Was The Shark Tank Pitch Metric Mate?
Metric Mate’s appearance on Shark Tank in 2022 was pivotal for the company. The founders presented their innovative fitness tracking technology to the panel of Sharks, seeking a $100,000 investment in exchange for a 5% equity stake, valuing the company at $2 million.
While the Sharks were impressed with the product’s potential, the high price tag of the TAP sensor ($199) proved to be a sticking point. Ultimately, only Kevin O’Leary made an offer, but the founders could not agree on the valuation, and the deal fell through.
| Co-founders | M-T Strickland, Braxton Davis, Ecleamus Ricks Jr. |
|---|---|
| Business | Tracks and analyzes workout data |
| Offered | $100,000 for 5% equity |
| Pitch Valuation | $2 million |
| Accepted Investment | No |
| Sharks Involved | N/A |
| Final Valuation | N/A |
Metric Mate Shark Tank Update:
Despite not securing a Shark Tank investment, Metric Mate’s appearance on the show proved a boon for the company. The exposure generated a significant spike in website traffic, with 15,000 visitors on the night the episode aired. Additionally, the founders reported receiving the highest orders they had ever seen. The Shark Tank episode re-airing a few months later led to a similar surge in interest and sales.
What Happened To Metric Mate After Shark Tank?
After their Shark Tank experience, Metric Mate continued to build momentum. In 2023, the company received funding from Techstars and was backed by the Atlanta Accelerator program, further bolstering its growth. It has also expanded its product offerings, allowing customers to pre-order the TAP sensor for $199, purchase an assessment for $45, or buy Metric Mate merchandise.
Metric Mate Net Worth:
Metric Mate’s current net worth is approximately $1.5 million, according to our estimates. This valuation is based on the company’s revenue, investments received, and the potential of its fitness tracking technology. While the Shark Tank deal didn’t materialize, the exposure and subsequent growth have positioned Metric Mate as a promising player in the fitness tech space.
Metric Mate Growth and Operations:
Metric Mate’s growth strategy has been multifaceted. In addition to its core product, the TAP sensor, the company has expanded into offering fitness assessments and branded merchandise. It has also focused on building strategic partnerships with professional trainers and therapists who have embraced the Metric Mate technology.
| M-T Strickland | Braxton Davis | Ecleamus Ricks Jr. |
|---|---|---|
| Education | Electrical engineering and mathematics | Attorney, General Counsel for Facebook |
| Previous Roles | The Clorox Company, Murata | N/A |
| Degrees | Eight degrees between them | N/A |
Metric Mate Marketing and Sales:
Metric Mate’s marketing efforts have been heavily influenced by their Shark Tank appearance. The surge in website traffic and orders following the episode has demonstrated the power of national television exposure. The company has also leveraged social media, with a strong presence on platforms like Instagram and Facebook, to connect with fitness enthusiasts and showcase the capabilities of its products.
Metric Mate Social Media Presence:
Metric Mate has a robust social media presence, particularly on Instagram and Facebook. Their accounts feature a mix of product demonstrations, user testimonials, and fitness-related content that resonates with their target audience. The company’s social media channels have built brand awareness and engaged with its customer base.
Metric Mate Interesting Facts:
- Metric Mate’s co-founders hold a combined eight degrees, demonstrating their strong academic and technical backgrounds.
- The company has obtained three patents to protect its intellectual property, underscoring the innovative nature of its fitness-tracking technology.
- Despite not securing a Shark Tank deal, Metric Mate’s appearance on the show has continued to pay dividends, with repeated surges in website traffic and sales.
What’s Next For Metric Mate?
As Metric Mate looks to the future, the company is well-positioned to capitalize on the growing demand for fitness-tracking technology. With their unique sensor-based approach and the potential to expand into new markets, such as college athletics, Metric Mate’s growth prospects remain promising. However, the fitness tech space is highly competitive, and the company must continue innovating and differentiating itself to maintain a competitive edge.
Final Words:
Metric Mate’s journey from its inception to today showcases the ups and downs of building a successful fitness technology company. While the Shark Tank appearance didn’t result in a deal, the exposure and subsequent growth have laid the foundation for Metric Mate’s future success. With a dedicated team, innovative products, and a growing customer base, the company’s net worth and long-term prospects appear bright as it revolutionizes how fitness enthusiasts track and optimize their workouts.
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