Metric analysis

The most disruptive MBA startups of 2021: Metric, Harvard Business School

Industry: Software

Name (s) of the founding student: Megan Murday

Brief description of the solution: Metric provides software to measure and manage portfolio ESG performance for private market investors. As a bilateral platform, Metric supports investors by recommending ESG KPIs, managing goals, and providing data that can be used for LP reporting and portfolio management. For portfolio companies, Metric streamlines data collection, shares ESG performance analysis and benchmarks, and suggests strategies for improvement.

Funding dollars: Metric has been initiated to date, and we are currently raising our first fundraiser with a goal of $ 1 million.

What prompted you to embark on this adventure? Growing up in a deindustrialised southern Chicago suburb, I saw that systemic problems are multifaceted and don’t just happen by chance. I thought government would be the easiest solution, but a political degree from Georgetown and internships in Washington showed me that the public sector does not have the speed or scale to fight change on its own. climate or socio-economic inequalities.

Metric harnesses the power of capital markets to tackle big challenges by providing greater transparency on ESG risks and opportunities. We unlock the data set required to align sustainability, equity and profitability in the private sector.

What has been your greatest success so far with venture? Our first pilots with startups were a source of pride for our team. We are excited about the potential of the ESG dataset to make an impact, but business leaders and investors are the leaders who make the decision to adopt more environmentally and socially responsible practices in the world. within their companies. Seeing how the founders reacted to their ESG performance data and incorporated that understanding into operating and hiring decisions was hugely rewarding. Transparency is the first step towards meaningful action.

How has your MBA program helped you move this start-up business forward? HBS has been an incredible accelerator and network for Metric. Many thought leaders in ESG and the Impact Space (such as George Serafeim, Shawn Cole, and Vikram Gandhi) are generous professors with their time, commentary, and networks. However, I was very surprised by the proactive support of my classmates. The idea to prioritize private market investors as a bridgehead market came from classmates who worked in VC and PE and saw the need for Metric’s solution. Even after graduation, the HBS Network functioned as 900 pairs of eyes and ears reporting relevant articles, opportunities, and clients for Metric.

Which founder or entrepreneur inspired you to start your own entrepreneurial adventure? How did it prove to be motivating for you? By starting his own law firm, my father demonstrated how hard work and courage can create a business that better serves clients and provides meaningful opportunities for employees. My brother and I watched him for long hours not only to build something new, but also to take other people along on the trip with him. The law is known for its extremely long hours and long ascent to a partner, but my father was able to create a cohesive office as a family and give young practitioners a real opportunity for impact and success. His dedication to his team reinforced the lesson leaders need to take charge of and invest in their people, especially when they have taken the risk of joining something new with you.

Which MBA class was the most valuable in building your startup and what was the biggest lesson you learned from it? The Business Manager (TEM) was the most fundamental course for our start-up build. A compulsory course in first year, TEM provides the basics of starting a business – from founder dynamics to fundraising. The professor in my section, Stig Leschly, is himself an incredibly motivating entrepreneur and leader. What I take away the most from Stig is that the problems that deserve to be solved today (climate change, inequalities, etc.) require visionaries and people. different than the founders of yesterday. The world needs leaders who are more empathetic, collaborative, and fundamentally passionate about the problem they solve.

Which teacher has made a significant contribution to your projects and why?
Christina Wallace has been an irreplaceable thought partner, mentor and advocate. She teaches entrepreneurial marketing, and the course teaches you that even the most feature-rich product won’t sell initially. We were able to build Metric’s go-to-market strategy as a final project. Beyond the course content, Christina continued to be a trusted mentor. I respect and appreciate her advice on my most difficult business and personal matters, as she experienced many of it herself as a founder.

What is your long term goal with your startup? At scale, Metric provides the horizontal layer of technology infrastructure for ESG data management. By enabling private and public companies to organize, understand and disclose their ESG performance data, we are helping to create a more sustainable and fairer world. Unlocking this dataset allows investors to efficiently allocate capital, consumers to make value-aligned buying decisions, and companies to access new markets for ESG solutions. The metric allows capitalism to deliver on its promise to create shared prosperity and long-term value.