The very first fully-automated e-commerce marketplace of cannabis is given by Santa Cruz, Calif-based Jane Technologies. The Company works to connect consumers securely with the best quality cannabis products, available in local dispensaries and brands for simple and affordable delivery and pick up.
This 2015-founded company powers over two thousand brands and dispensaries across 36 states of US markets along with the Canadian markets. The offerings and solutions of the e-commerce company provide the brands and dispensaries with real-time POS integration, retail, market analytics, and curated content directly from the brands.
Socrates Rosenfeld established this firm along with others and they believe that the cannabis industry is able to bring health, well-being, and love into this world, so their aim is to give confidence for the shopping of cannabis experience.
The Californian cannabis company announced its closing of a $100 million series C round that brings the total raised value since inception in 2015 to $130 million. The company didn’t specify the valuation after this round.
Menlo Park-based venture capital firm, Honor Ventures led this round. Other investors also supported this funding round including Third Point Ventures, L2 Ventures, Gotham Green Partners, Artemis Growth Partners, and Delta Emerald Partners.
The Managing Partner of Honor Ventures, Jeffrey Housenbold joined the Board of Directors of Jane Technologies.
The CEO and co-founder of Jane Technologies, Socrates Rosenfeld said that over the past few years, the team of Jane Technologies has worked very sedulously and also ensured that the company has the right foundation to take the next step(Series C) to establish the digital infrastructure of the cannabis industry on a global scale.
He added by saying that they don’t define success by the amount of capital raised by the company or the size of the company but it depends on the value created by them for their brand partners, dispensary partners, and consumers.
The Managing Partner of Honor Ventures who joined the Board of Directors of Jane Technologies said that he has spent 25 years of his professional career working with e-commerce companies and few of them have become durable global platforms. And now, he started to work with Jane and he said that Jane has every ingredient that will lead it to be the next eBay or Shopify.
Jane has gathered help from some of the leading multi-state operators and brands, to manage and power their e-commerce platform including Columbia Care, Jushi Holdings, Thumb Industries, Kiva, Cresco, Papa and Barkley, Lowell Herb Co., and WYLD. This year alone, Jane has powered over $3 billion in cannabis sales and 25 million in orders from 2,100+ markets.
Aim Behind this Series C Round Funding
Socrates Rosenfeld said that this new funding round would begin a new chapter for Jane Technologies as they aim to continue steadfastly on their mission of enabling local businesses. While providing secure access to the plant that becomes the reason for cure and healing for millions, all around the world.
Jane Technologies will use the new capital in expanding its digital footprint, developing and growing its team across multiple operational areas, enhancing its existing solution software, and introducing new technologies which help small operators and large cannabis enterprises into the future of digital retail.
The CEO and co-founder of Jane Technologies said that he feels extremely fortunate to be born into the industry of cannabis where there was no direct ecosystem to cannabis and they had to go and figure out a way to interlink the brand and retailer.
Conclusion
The cannabis industry’s leading provider e-commerce company, Jane Technology has raised $100 million in a Series C round of funding and made its total raised since the inception $130 million. Honor Ventures led the round with the participation of Third Point Ventures, L2 Ventures, Gotham Green Partners, Artemis Growth Partners, and Delta Emerald Partners. The leading provider of quality products of cannabis all around the US and Canada said to use the fresh capital in expanding its digital footprint, enhance its existing solution software, and introduce new technologies to their company.
FAQs
Ans. $100 million.
Ans. Honor Ventures.
Ans. Third Point Ventures, L2 Ventures, Gotham Green Partners, Artemis Growth Partners, and Delta Emerald Partners.
Ans. Santa Cruz, California.
Ans. In 2015.
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