MetraTech

About MetraTech

MetraTech, founded in 1998 by Scott Swartz, established itself as a provider of metadata-based billing, commerce, and settlement solutions. Before starting MetraTech, Swartz was at NetCentric, an early cloud computing firm, where he developed the industry's first SGML/XML billing protocol. This background in enterprise software, particularly at Cambridge Technology Partners, shaped the foundation of MetraTech. The company developed a unique, agreements-based billing platform capable of handling complex and fluid transactions across various industries. Its core product, MetraNet, was a comprehensive solution for charging, pricing, billing, and customer care, built on a metadata-driven architecture. This allowed clients to quickly introduce and modify services and pricing plans in response to market demands. The company also offered Metanga, a cloud-based, multi-tenant billing application.

MetraTech catered to a broad market, including communications, media, financial services, utilities, software, and transportation sectors. The business model centered on providing these industries with the tools to manage intricate revenue models, such as subscriptions and usage-based pricing, which traditional ERP systems struggled to support. Notable clients like Chicago O'Hare International Airport used the MetraNet platform to bill for both aviation and non-aviation services from a single system. The firm's solutions were designed to integrate with existing financial systems, helping to automate processes from quoting to revenue recognition.

The company's growth was supported by significant venture capital funding, raising a total of $71.6M from investors including Accel, Bessemer Venture Partners, and Meritech Capital Partners. In a strategic move to expand its capabilities beyond telecom, Ericsson acquired MetraTech in September 2014. The acquisition included all 140 employees and was aimed at leveraging MetraTech's platform to support new revenue models driven by the Internet of Things (IoT) and Everything as a Service (XaaS). The deal was intended to strengthen Ericsson's billing and commerce solutions for enterprise clients in sectors like transport and utilities. Following the acquisition, MetraTech became a division within Ericsson, and its legal entity was eventually deadpooled.