Highlights
- MT Strickland, Braxton Davis, and Ecleamus Ricks pitch Metric Mate, a device that turns gym equipment into “smart” equipment
- The founders enter the show seeking $100,000 for 5% equity.
- Metric Mate’s TAP sensor collects workout data and analyzes metrics like calories burned, reps, and fatigue.
Overview
| Category | Details |
|---|---|
| Name | Metric Mate |
| Founders | MT Strickland, Braxton Davis, Ecleamus Ricks |
| Industry | Fitness, Data Analytics |
| Product | TAP (Training Accountability Partner) technology for workout data analytics |
| Funding | No deal |
| Investment Ask | $100,000 |
| Equity Offered | 5% |
| Valuation | $2 million |
MT Strickland, Braxton Davis and Ecleamus Ricks hope to get a lift from the Sharks for Metric Mate, their data analytics device that turns any gym equipment into “smart” equipment,” in Shark Tank episode 1411. The three friends and Morehouse College grads started working on the business back in 2017 and things started taking off a few years later. Strickland has an engineering background. Ricks has a background in software development and Davis is a patent attorney. Now they’re in the Shark Tank looking for help getting to the next level.
At the heart of Metric Mate is a physical training app that, when paired with their TAP – “Training Accountability Partner” technology will analyze your workout for a wide variety of data points like calories burned, force, fatigue and more. The TAP technology is a sensor you can attach to any workout equipment like weights and it will transfer the data to the app. Once the data is analyzed, it can be shared with anyone you wish. Customers include gyms, personal trainers, and athletes from high school to the pros.
They have three patents on their technology, but as of the week of the original air date, the TAP devices are available for “pre-order” only. Their website state pre-orders are not yet available and/or are currently sold-out. Since they have customers, they must be sold out. Certainly a Shark Tank appearance would help boost pre-orders and it tells me they need a Shark to help build inventory.
Company Information
Video
Posts about Metric Mate on Shark Tank Blog
Metric Mate Shark Tank Recap
MT, Braxton and Ecleamus enter the Shark Tank seeking $100,000 for 5% equity in their company. Braxton goes over to a small gym onstage and writes down his exercises on a pad of paper. They talk about the downfalls of pen and paper. They introduce the Metric Mate and say it turns any gym equipment into “smart” equipment. The device tracks weight, reps, calolrie burn, intesity, force and fatigue. All the information can be shared with anyone via the app.
Mark comes onstage to try it out. He does a military press according to the app’s prompts. The app’s “voice” tells Mark the effort was lackluster. The device collects the data and shares it with the app. Mark says it’s great for traveling. Between the three men, they have 8 degrees in law and engineering. Theirs is the only device that collects data directly from the machine. They are focusing on working with personal trainers to provide an unparalelled service.
Each device costs $99 to make and sells for $199 based on producing 1000 units at a time. They’ve sold five units and have five more with them onstage. To sell direct to consumer, they need government certifications that are costly, this is why they are focusing on personal trainers to begin generating revenue.
Did Metric Mate Get A Deal?
Mark likes the device for simple metrics like reps and weight but thinks the additional analytics are hard to do; he’s out. Lori thinks it would be better if they sold to consumers; she’s out. Barbara doesn’t know if consumers will even like it; she’s out. Tony thinks they should get it into consumers’ hands – it’s too early for him; he’s out. Kevin talks about the success of PRX, a company he invested in during season 7. He wants to manufacture the devices and offers $100,000 for 25%. The guys counnter with $100,000 plus a $150,000 line of credit for 12.5%. Kevin refuses and they say for $100,000, the highest they can go is 7.5%. Kevin won’t move from his offer and they leave with no deal.
Metric Mate Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The first re-run of this episode airs in June, 2023 – six months after the original airdate. At this time, the devices are still available for pre-order only. They expect to ship their first run of products in the 4th quarter of 2023. The guys claim to have a lot of interest from professional sports teams, large entertainment organizations, governmental agencies, and universities.
The Shark Tank Blog will follow-up on Metric Mate & MT Strickland, Braxton Davis and Ecleamus Ricks as more details become available.
See what else is new! View other businesses featured in this episode.
